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You skipped the Zero-th step: Step 0: pay your minimum on all debts. That prevents your principle amounts from increasing
by fr0sty 16y ago
You skipped the Zero-th step:
Step 0: pay your minimum on all debts.
That prevents your principle amounts from increasing
- eru 16y agoLetting the principal on low interest debt increase in favour of paying off a high interest bearing one earlier, is actually a good idea financewise.
- fr0sty 16y agopresuming, of course that you can do so without penalty, yes. But there are very few source of credit which will let you get away with deferring payments penalty-free.