How to prioritize debt repayment when you have multiple creditors

Johnson2468

Valued Contributor
If you find yourself in a situation where you owe money to multiple creditors, it can be challenging to decide which debts to prioritize first. One effective strategy is to start by paying off the debt with the highest interest rate, as this will save you the most money in the long run. Another strategy is to prioritize paying off lesser debt first, as this can boost your drive and sense of accomplishment. As an alternative, you can consider combining your debts into a single manageable payment, which can assist to streamline your finances and make it simpler to set up payment priorities.
 
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