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Question By
YankeeKipper

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Order of debt payoff
Should I pay off several low balance credit cards or pay larger amounts on high interest cards with much larger balances?

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Top Contributor
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Create your "pay off budget"

Figure out what you can afford to pay off each month. (In my case it was 600 a month) 

Make sure you pay at least the minimum payment on each account. Anything that is left should go to pay off the smallest balances first. As you pay them off you will have more to pay towards the other accounts. If balances are about equal, you should pay on the one with the highest interest rate. 

If your in a position where you can open a new card. Try moving part of the debt ( highest interest rate) to a 0% interest card. Most of those are offering a year to 15 months right now. 

Good luck.

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