Asked by: Liz Velasquez
Paying off high-interest debt is likely to provide a better return on your money than almost any investment. If you decide to pay down debt, start with your debts with the highest interest rates and work down from there.
What is the best way to pay off?
How to Pay Off Debt Faster
- Pay more than the minimum. …
- Pay more than once a month. …
- Pay off your most expensive loan first. …
- Consider the snowball method of paying off debt. …
- Keep track of bills and pay them in less time. …
- Shorten the length of your loan. …
- Consolidate multiple debts.