Don’t worry, I just found a good review over the 3 Debt Repayment Methods which will help you decide which method to use. This review was posted in Samerwriter.com which discuss the Snowball Method, Higest Rate First Method and The Lowest Rate First Method.
Starting with an example of 4 debts, the discussion will let you know which debt can be paid off faster and with the minimum money.
Results?
|
|
Less Time needed |
Less Money needed |
|
Rank 1 |
Highest Rate First Method |
Highest Rate First Method |
|
Rank 2 |
SnowBall Method |
SnowBall Method |
|
Rank 3 |
Lowest Rate First Method |
Lowest Rate First Method |
For more information, please go to Samerwriter.comand read the full explanation.
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