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yaxomoxay said:
Baby Step 2's Debt Snowball: pay the lowest debt first, don't look at APR %. Once first debt is paid, use that saved $ to pay for the second debt. Then the third. And so on.
Click to expand...

Personally I prefer the Avalanche Method - send all extra payments to highest APR debt first. Total amount paid is less this way. Less instant gratification of course, but I'm good at seeing the long-term benefits. Currently paying off student debt this way, and compressing 20 years of payments into 5. By the end of it, I will have saved $35k in interest compared to making only the scheduled payments. Incidentally, my dream car costs ~$35k these days...
[doublepost=1481323404][/doublepost]I use this spreadsheet, and it's wonderful. It lets you compare the Snowball vs Avalanche too.
https://www.vertex42.com/Calculators/debt-reduction-calculator.html
 
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