http://www.mightybargainhunter.com/2006/04/02/which-debt-to-reduce-first/ Personal finance, commentary, and spending less the easy way Sat, 21 Nov 2009 01:23:30 -0400 http://wordpress.org/?v=2.8.6 hourly 1 http://www.mightybargainhunter.com/2006/04/02/which-debt-to-reduce-first/comment-page-1/#comment-1142 fivecentnickel.com Sun, 02 Apr 2006 17:52:57 +0000 http://www.mightybargainhunter.com/2006/04/02/which-debt-to-reduce-first/#comment-1142 This seems like a no-brainer to me... Kill mortgage #2. It has a higher rate, so it makes sense to pay it down first. I'm not sure why anyone would ever pay of the cheaper money faster. There might be circumstances in which it's warranted -- like if you're using the debt snowball and the debt with the lowest balance also happens to have the lowest interest rate (Ramsey says pay of lowest balance first regardless of interest rates). This seems like a no-brainer to me… Kill mortgage #2. It has a higher rate, so it makes sense to pay it down first. I’m not sure why anyone would ever pay of the cheaper money faster. There might be circumstances in which it’s warranted — like if you’re using the debt snowball and the debt with the lowest balance also happens to have the lowest interest rate (Ramsey says pay of lowest balance first regardless of interest rates).

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