I’m wondering how other people prioritize debt repayment.
Derbel
47

If the objective is to pay as little interest as possible, pay down the accounts with the highest interest rates first. But month-to-month cash flow is important too. When I started paying down my debts, I put extra money towards both my mortgage (higher interest rate) and my car loan (lower). But once I saw that my car loan dipped below 5k, I just paid it all off entirely because having that expense off the monthly budget just felt good.

As long as the interest rates aren’t too divergent, it doesn’t really matter. Do what makes you feel good.

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