How To Determine Your Debt Repayment Strategy

How can I determine my debt repayment strategy?

Your debt repayment strategy depends on what makes sense to you and what makes you feel most comfortable. Do you want to repay the high rate debt first? Do you want to repay the low accounts first, the low balance accounts? One good thing is that once you repay the low balance accounts, you can take some of that money and put it toward your remaining debt or put it toward your higher interest debt. You might want to do a combination of the two. Let's say you have two hundred dollars a month that you want to put toward paying off debt. One hundred of it goes to the expense of credit card debt and another one hundred dollars goes toward paying off those little accounts that you want to get rid of.