What Should I Pay Off First

[MegaMagma39]

I think it depends on your own personal preference...and the interest rates. I would pay off the one with the highest interest rate first, then go down from there. After all, that's the majority of what you're paying monthly!

[jmckinstry]

I would pay the Sears, Discover and then the Master Card. Smallest balances first so that you will feel like you are making "traction" in paying off your cards.

[iamhuman]

Originally Posted by ronny_todgers

While there is a role for Psychology here, you have to make some effort to optimise your behaviour when you are dealing with money. Its not just that it might not be fastest - in teh example three debts you would end up spending way more money which you could have spent on something you actually wanted.

Always pay the debt that is costing you most off first.

Also, have an some extra job to lessen your debt.

[iamhuman]

Originally Posted by iamhuman

Also, have an some extra job to lessen your debt.

True. this would give a big concern if you are not settle your debt that has the highest interest rate.

[lerrygibson]

I have different opinion to share and i feel it is better to pay mastercard first otherwise, it will put you in more debt and then paying the amount of sears and later discover.