06-09-2024, 01:50 PM
Here is my three step strategy to pay multiple loans:
List and Prioritize: I rank loans by interest rate, focusing on high-interest ones first.
Consolidate: I combine loans into a single payment with a lower interest rate if possible.
Snowball Method: I pay off the smallest loan first, then apply that payment to the next smallest, building momentum and reducing the number of loans.
List and Prioritize: I rank loans by interest rate, focusing on high-interest ones first.
Consolidate: I combine loans into a single payment with a lower interest rate if possible.
Snowball Method: I pay off the smallest loan first, then apply that payment to the next smallest, building momentum and reducing the number of loans.