[castlebrew]

Take out the smallest debt first, make minimums on the others. When it's paid off, take that payment and put it on the next smallest, and so forth.

Build momentum - This is the way.

Otherwise, you're going to be waiting a long time to see a dent in that highest-rate debt balance. You'll get bored with the lack of progress and lose interest (so to speak).

Some illustrations

[FatherofFive]

the smallest debt first, make minimums on the others. When it's paid off, take that payment and put it on the next smallest, and so forth. Build momentum - This is the way. Otherwise, you're going to be waiting a long time to see a dent in that highest-rate debt balance.

I understand the logic of the discipline thing with Ramsey, but the wise move is to payoff the high interest rates first. Long term, you save. Big-time.

Think of it this way - you have three investment vehicles that pay 1%, 3% and 10%, guaranteed, and you can add to it anytime. Where would you put your money to get the greatest return? Same thing in reverse.