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Hi, thanks for joining us.
Professor Savings here.
Credit card debt can put an emotional strain on us. Let’s lets jump into a credit debt reduction strategy.
Let’s say I have two credit card debt. Credit card A has $1000 debt with 10% interest and credit card B
has $300 debt with 15% interest.Lets introduce snowball debt reduction which pay off accounts
starting with the smallest balance.
While paying minimum on large debts.
So pay off credit card B first while paying minimum payment on credit card A
Why?
Well..
Psychologically we feel more confident when we can eliminate one debt and have great momentum simple as that.
Professorsavings signing off.
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