This Week’s RainTask
The faster you pay, the less you pay. Credit cards have interest rates that can trap you into paying a significantly larger amount than intended. The faster you pay these cards down, the less money you will pay in the long run. Paying one extra payment a month can save you some money that you can put towards something else or into your savings. Paying off credit card debt also will help your credit score. It’s all about the long-game!
Try using the snowball effect strategy. By paying off your smaller balances first, you can start using the money that was going towards that balance towards paying off the next balance. This strategy will set you up well to eliminate interest charges ASAP.