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infinity_o t1_j6ipx8u wrote

Reply to comment by weruroverlord95 in Review my budget please by weruroverlord95

Investigate if you can consolidate some of the high interest debt. You may be able to get a lower interest rate which will make paying it down easier.

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weruroverlord95 OP t1_j6iqeqq wrote

Currently working the snowball method. I understand this is mathematically incorrect, but it's my habits that got me into debt. So far I've got 2 paid off in January so it's working for me.

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infinity_o t1_j6j7j9l wrote

Snowball method is a totally valid approach, but you can do both. “Snowball” the lower interest debts but consolidate high interest debts to slow the bleeding.

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weruroverlord95 OP t1_j6j7rbb wrote

Hmmm. This is a great hybrid method. Another one I was thinking about is to list the highest payment to the lowest. Pay off debt with the highest payment to free up more money per month to put the next one.

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