Sentences with phrase «towards high interest credit card debt»

If you only pay minimum payments towards high interest credit card debt, well this could lead to you paying on the accounts for more than ten years and paying more than double what you owe after calculating the interest into the equation.

Not exact matches

Another thing you can do in order to increase your available income is to spread your debts into longer repayment programs so as to destine higher amounts towards repaying your higher interest credit cards.

If you have high interest credit card debts, it is better to direct your efforts towards paying off the credit card debts first while you pay the possible minimum amount on your student loans.

If you are carrying debt on a high interest credit card with 15 % -22 % interest or on a store credit card with 29 - 30 %, you will have a better rate of return putting the $ 10,000 towards your debt than you would investing it at a 4 % rate of return.

We tracked our expenses and used Gail's snowball debt - repayment method that had us putting $ 3,500 a month towards the debt with the highest interest rate first — in our case the credit cards.

Credit card debt is a like a financial black hole, with extremely high interest charges eating away at money that could, and should, be going towards a retirement account, an emergency fund, your mortgage, or at least something more enjoyable than credit cardCredit card debt is a like a financial black hole, with extremely high interest charges eating away at money that could, and should, be going towards a retirement account, an emergency fund, your mortgage, or at least something more enjoyable than credit cardcredit card debt!

If you're carrying high - interest debt like a credit card balance, putting a bonus towards the principal (as opposed to eating out or indulging a luxury purchase) can drastically reduce the interest you pay.