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Focus on paying off highinterest debt first from "summary" of Debt Free for Life by David Bach
When it comes to getting out of debt, one of the most important strategies you can use is to prioritize paying off high-interest debt first. This means focusing on the debt that is costing you the most money in interest charges. High-interest debt, such as credit card debt, can quickly spiral out of control if left unchecked. The compounding interest can make it seem like you are barely making a dent in your balance, despite making regular payments. By focusing on paying off high-interest debt first, you can save yourself a significant amount of money in the long run. To do this, you should first make a list of all your debts, along with the interest rates for each one. Then, prioritize your debts based on the interest rate, with the highest interest rate debt at the top of the list. O...
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