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smurphy112192

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Should I pay off accounts with a small balance or the accounts with a big balance first?
Obviously the accounts with the higher balance will have a bigger interest charge verse the accounts with the lower balance. But it will take me longer to pay off the higher balance so should i make it a priority to pay off the smaller balances first or just try and lower the accounts that have high balances?

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There are two thoughts on how to go about it... Snowball which is what you are talking about when you start with the lowest cards first and that does help motivate you when you see progress.  The other one would be to pay off the ones with the highest interest rates first which would save you the most money. 

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