
In What Order Should I Pay Off My Debts? A Rational Guide to the Debt Snowball, Debt Avalanche, and Other Considerations RPF0032
Radical Personal Finance
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How to Get Out of Debt Faster
So i've got a 20 thousand dollar credit card balance with an interest rate of 18 % and a monthly payment of 500 dollars. I've got a 15 thousand dollar car loan with an interest Rate of eight % and a Monthly Payment of 300 dollars. And i'veGot a student loan balance of ten thousand dollars and An interest rate of six%. So total, minimum monthly payments are 900 dollars. The way this spread sheet works isy because i have my minimum payment that has to be paid of 900 dollars, but then i can choose to put in what is my extra payment. What additional amount can i pay every month? Now, if i don't pay any additional amount, and i just
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