September 02, 2010

Get Out of Debt (Part 4 of 4): Combine Methods Depending on Your Situation

Adapt Each Step to Your Situation to Get Rid of Debt

It’s also possible to combine the highest interest rate method and the lowest balance method (see previous posts) to eliminate your debts.

Depending on your situation, you will decide for each step the liability to be eliminated.  The highest interest rate one or the lowest balance one.

Just remember that the highest interest rate method is always the fastest and the most financially sound. The lowest balance method should only be used if you need an emotional boost.

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