Janet has an outstanding balance on four different credit cards. Which method of paying off her credit card debt will be the easiest to track while still saving money?
paying the minimum balance each month
making fixed payments
snowballing her payments according to the highest interest rate
snowballing her payments according to the lowest balance
I think the easiest way to track payment of card debts while still saving money is PAYING THE MINIMUM BALANCE EACH MONTH.
The fastest way to pay off card debts is to pay the minimum balance of each card and snowballing payment according to the lowest balance. Do this until you pay off the highest amount of your credit card debts.
