If the only thing that matters to you when paying off debt is saving dollars and cents, the payment strategy that clearly makes the most financial sense is paying off your balance with the highest interest rate first. So try this method out and start watching your balances shrink!
Start out by doubling your monthly payments on the card with the highest APR while continuing to make the...
This Week's Credit Tip
Recent Credit Tips
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Oct 16, 2014 | Weekly Tip: Use coupons to save money when buying.
The average American consumer spends a lot of money at stores. There’s around $150 a week on food. Then there’s pharmacy costs, clothing, entertainment, and everything else. Using coupons, however, can be a good way... -
Aug 29, 2014 | Weekly Tip: Think about buying secondhand.
Although you might want something new, do you really need it? Oftentimes, buying secondhand can result in huge savings with little or no difference in quality. Used goods can be hundreds, even thousands, of dollars less. And you may not... -
Aug 15, 2014 | Weekly Tip: Avoid overdraft fees.
Although it may seem obvious to avoid overdraft fees, many people overcharge their credit card and end up paying for it. One time might be okay, but these charges add up fast. And if you are consistently forgetting, you’ll end up spending a lot of... -
Aug 01, 2014 | Weekly Tip: Buy generic.
Should you get Advil or the CVS version? A recent study, from economists at Tilburg University in the Netherlands and the University of Chicago, found that smart people tend to buy generic brands. Nine times out of ten, pharmacists and doctors will buy the... -
Jul 25, 2014 | Weekly Tip: Beware of credit repair scams.
If you have bad credit, you probably want to fix it quickly so that you can start getting approved for loans with low interest rates, rent properties, get a credit card, and more. Bad credit can affect a lot of areas of your life, so you... -
Jul 17, 2014 | Weekly Tip: Buy your plane ticket early, but not too early.
When should you book your travel tickets? If you’re planning a trip, you know how hard this question is to answer. Clearly, you want to buy your airline tickets in advance, so you don’... -
Jul 11, 2014 | Weekly Tip: Make budgeting a habit.
Waking up, brushing your teeth, taking a shower - these are all things that you don’t even think about. They have become so ingrained in your head that they are now habits. You automatically do them regularly without consciously thinking about it.... -
Jul 02, 2014 | Weekly Tip: Use an app to help you manage your finances.
Although it’s easy to swipe your credit card for everything you need, it is important to monitor your spending habits. And what better way to do that then using your smartphone. In the past, people used to spend... -
Jun 20, 2014 | Weekly Tip: Carry only the credit cards you need.
If you have a lot of credit cards, you probably have them in your wallet. It’s easy to keep them all in one safe place, but is it the best place for safekeeping? Although that may seem like the easiest place,... -
Jun 10, 2014 | Weekly Tip: Protect your smartphone with a password.
Most people have smartphones these days. And most people have personal information on those smartphones - phone contacts, emails, social media accounts, maybe even credit card numbers... It’s no question that you want to...
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