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Reply to "Credit Card Debt"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]As I recall, Michelle Singletary, the WaPo financial columnist, suggests paying off the one with the smallest balance first so that you feel like you are making progress. But in terms of saving the most money, paying off the one with the highest interest rate first seems the most rational. [/quote] [b]Singletary is an idiot, generally speaking. I mean, the woman has no business advising people on personal finances. [/b] That said, I can see the wisdom in tackling the smallest balances first, especially since it frees up more money to throw at the bigger balances.[/quote] Why?[/quote]
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