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How do I pay off my debt? Snowball Vs. High Interest?

Oct 16, 2008 by milan D | Posted in Personal Finance

Here is my situation:

Loan Balance Rate Payment

Stafford Loan 14,252.82 4.00%(fixed) 116.35
Private Loan 24,357.72 8.00% (variable) 348.96
Parent Plus

The reason Dave says to pay off the smallest balance first is because it is a psychological "high" to get something paid off. From experience, his method works. I have done the nerd thing and figured out how much "faster" it would

mldjay | Oct 16, 2008

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