No. of Recommendations: 1
I think that you benefit more in the bigger picture by getting rid of your smaller debt first--and not just from the psychological standpoint.

If you retire your small debts first then one by one you will have more money to throw at you next debt and so on. That will take time, but as that time passes, your financial picture will get better and it might even present opportunities to lower your high interest debt. I think that too many times people look at the high interest debt and assume that they are married to it until the debt is completely paid off.

How is your budgeting and your e-fund coming? Snowballing is useless without it.

Thanks for keeping those Apaches flying.

Fred



Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement