Pay off highinterest debt first from "summary" of I Will Teach You to Be Rich: The Journal by Ramit Sethi
One of the key principles of managing your finances effectively is to prioritize paying off high-interest debt first. High-interest debt, such as credit card debt, can end up costing you a significant amount of money in the long run if you do not address it promptly. By focusing on paying off high-interest debt before other financial goals, you can save money on interest payments and improve your overall financial health. When you have high-interest debt, a portion of your monthly payments goes towards paying off the interest accrued on the balance. This means that you may end up paying much more than the original amount you borrowed if you only make the minimum payments each month. By focusing on paying off high-interest debt first, you can reduce the total amount you pay in interest over time. To pay off high-in...
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