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
Psychologically we feel more confident when we can eliminate one debt and have great momentum simple as that.
Professorsavings signing off.
If you would like to learn more about finance basic subscribe to our channel now