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Pay Down Your Smallest Loan to Avoid Interest Costs

3 months agoMoney saving tips - reviewed

If you still have car, student or credit card debt, focus on paying that down to avoid high 5-15% interest payments. Dave Ramsey recommends making minimum payments on all your loans, and focusing on paying down the small down entirely to get rid of it (“Attack that one with a vengeance. Once it’s gone, take that payment and put it toward the second-smallest debt”).