Personal finance experts love to argue about the best approach to shrinking your debt: paying off loans with the biggest balance first vs. tackling your highest-interest debt. This debate can get as heated as a Thanksgiving dinner where your relatives debate politics, religion or the winner on Dancing With The Stars.
Now comes new research that proves what the smart financial advisors have said all along: the best method is one you can stick with until you're debt-free.
The debate comes down to two mindsets, sort of like men being from Mars and women hailing from Venus. Rationalists claim the best way to pay off debts is to target extra cash at your highest-interest rate debt first, because that lowers your total interest payments and means you pay the least amount to get out of d...
from MoneyTips http://www.moneytips.com/how-to-pay-off-debt
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