Take on little debt and pay off smallest first

Document created by annettew on May 27, 2016
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When my husband and I graduated we had several loans between us. Our strategy was to aggressively pay off the highest interest loan first - all money besides food, rent, utilities, insurance and taxes went to one loan once all minimums met. Paying one off completely releases a burden and spurs you on to the next. My son paid off his wife's smallest loan that had a lower interest - but was able to reduce the stress of two loans. The key is to take your whole situation into account and minimize the number of loans and take whatever pressure off that you can.