Pay Off Debt

In other words johnny is in exactly the same position in situation b regardless of what he does.

Pay off debt. This approach starts with paying off the card with the lowest balance first regardless of the apr. Whether you re just starting to pay off your debt or you re a few years in and ready to kick it into high gear check out the free trial of ramsey. Even a 25 or 50 match is still a 25 or 50. Pay off debts with savings.

Understand the key differences and learn how to pay off each type of debt. You get a 401 k match. This leaves him with no savings and 5 000 debt on his credit card at 18. You can t afford not to take advantage of an employer s 401 k match assuming that doing so won t put you behind on bills.

The ramsey membership will help you knock out your debt even faster with tools like financial peace university the new babysteps app and the premium version of everydollar plus a ton of other exclusive content. Use these tools and tips to pay off your debt. Next you pay off the card with the second lowest balance and so on. Take advantage of balance transfers.