Sentences with phrase «smaller debts first»

It was a great starting point for my journey to living debt free, but I realized after reading hundreds of blog posts on PF and frugality that I was throwing away hundreds of dollars in finance charges by paying the smaller debts first.

Known as the «snowball method,» paying smaller debts first allows you to concentrate more money toward larger debts.

The idea behind this method is that tackling smaller debts first will empower you to go after larger debts, a strategy devised by personal finance expert Dave Ramsey.

Those looking to get out of debt quickly may opt for paying down the biggest amount first while those looking to stay motivated may choose to pay off a few smaller debts first.

It makes perfect sense to eliminate the smaller debts first so you can eventually focus on the larger ones.

You can choose to pay off smaller debts first, using that extra money to pay off increasingly larger debts.

If you instead pay off smaller debts first, that would free up money that you could put toward your larger debt.

Consolidating your loans can be very advantageous to you, especially if you don't have enough cash flow to successfully pull off the «Debt Snowball» of paying off smaller debts first.

But accumulating debt is as much a behavioral problem as a math problem, so get some easy wins under your belt by purging some smaller debts first.

To stay motivated and on track to pay back his debt as quickly as possible, Sall utilized the snowball method, which targets the smallest debts first.

Popularized by Dave Ramsey, author of «The Total Money Makeover,» it means you prioritize your smallest debts first, regardless of interest rate.

One approach is to start with the smallest debts first to eliminate at least some of your debt burden and interest payments in a timely manner.

This is in large part due to Dave Ramsey's insistence that paying the smallest debt first is the best option regardless of interest rates.

After making minimum payment for all debts (which should be part of your budget) attack the smallest debt first and continue to move up through debt amounts.

Many financial experts recommend the «debt snowball» method in which you pay off your smallest debts first, regardless of interest rate.

I was stunned the first time I saw personal finance advisers offering the advice to pay off your smallest debts first.

The «Debt Snowball» method, advocated by financial guru Dave Ramsey, starts with paying off the smallest debt first, and working up to the next smallest and so on.

I personally advise to pay down your smallest debt first so you can feel the accomplishment!

My plan would be to pay off my smallest debt first, and then move to the next largest (snowball effect), until you are completely debt free.

Paying off the smallest debt first will be your quickest route to getting one of your debts paid in full, putting you that much closer to the light at the end of the tunnel.

Some people prefer to attack their smallest debts first, rather than their most expensive debts.

Those people may be better served by paying off the smallest debts first, to get them out of the way.

-LSB-...] The magic of the Dave Ramsey version is that if you tackle the smallest debt first, you'll pay that off quite quickly which will give you the psychological boost you need to believe that it will work, and so stick to it.

As with the avalanche method, you'll need to make your minimum required payments for all of your debts, but you'll focus any extra funds — including your income tax refund — on the smallest debt first.

By focusing on your smallest debt first, you'll be able to pay it off very quickly, giving you a feeling of progress and an important boost in motivation, which can help you stay on track and keep to your debt repayment plan.

In the snowball strategy, you apply your extra payments to the smallest debt first and keep doing so until it's paid off.

The two leading theories are the Debt Snowball, as advocated by Dave Ramsey, in which you pay the smallest debts first, and the Right Way, as advocated by rational people, in which you pay the highest interest rate debts first.

The debt snowball strategy focuses on the smallest debt first.

One of the reasons the debt snowball is so popular is due to the nature of the situation: You pay off your smallest debt first, so you receive the benefit of seeing fast results.

Some advisers believe that you should pay off your small debts first, so you see that you are making progress, but Chris believes that financially you are better off by reducing your high interest debts first.

The best practice is to eliminate your smallest debts first.

This meant paying off a small debt first and being able to feel that they were achieving something.

They say it's best to pay off your small debts first so you have a feeling of accomplishment as you reduce the number of debts that you have.

This remedy, also called Debt Snowball, targets your smallest debts first, no matter the interest rate.

By attacking your smallest debts first, you get some quick wins, which provide a mental boost.

They do that by knocking out the smallest debt first and then snowballing that payment on top of the next smallest debt to get that one paid.

Sometimes it's easier to stay motivated if you pay off some small debts first so you feel empowered and inspired to keep paying off the rest of your credit card debt.

This strategy of focusing on paying off the smallest debt first, and then moving on to the next smallest debt and so on, is sometimes called the «snowball method.»

John suggested I use the snowball method: Get rid of the smallest debt first by paying extra, while making the minimum payment on the rest.

But Prospero prefers to erase the smallest debts first.

Key quote: «Our results indicate that the «small victory» of paying off the smallest debt first may increase motivation in debt repayment.

The alternative is to pay off your smallest debt first, then the next smallest.

Pay off the small debt first — this will free up money with each debt that is cleared, giving you more money to use to pay off additional debts.

Truth: You should knock out the smallest debt first to create momentum in your debt snowball.

«Pay the smallest debt first» is a straightforward strategy that can be easily communicated and easily applied — and that's sorely needed by millions of American credit card users.

You could start by making extra repayments on your smallest debt first.

Carol then prioritised her debts in order of size and committed to allocating any spare change she had to paying off the smallest debts first.

However, Dave Ramsey argues that paying off the smallest debts first is going to give you the push you need to continue your plan.

While making the minimum payments on all the rest, attack your smallest debt first.

You then put ALL surplus cash you have available into paying back the smallest debt first.