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Old 05-09-2013, 12:33 PM   #80
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Quote:
Originally Posted by Dante84 View Post
I like that idea, but do you suggest smallest first, or highest interest first?
Interest that you pay is opportunity lost (opportunity to save, opportunity to pay another loan). Therefore I would attack the loan that you pay the most interest on (not the rate). The trap is spending... keep spending and you'll never make any headway. Just make sure you allow yourself to spend some of the money you save (that way its not as much of a chore).

Credit cards are great, if you pay the balance every month. Another is track every nickel you spend to see where the money goes. You may find a way to save some money by adjusting your habits. There is a hole in everyones spending bucket.
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