Multiple Choice Question
When paying off multiple debts using the Stack Method, How do you determine which debt to target to pay off first?
A.
Pick the debt that you currently have the largest balance on, because it's going to take longer to pay of, so you need to get started right away.
B.
Pick the debt that you currently have the lowest balance on, because then you can get rid of one of your debts quickly
C.
Pick the debt that has the highest interest rate, because the faster you pay it off, the less interest you will have to pay
D.
Pick the debt that has the lowest interest rate, because it's easier to pay of that debt, because less is going toward interest
1 answer
C. Pick the debt that has the highest interest rate, because the faster you pay it off, the less interest you will have to pay
1 answer