If you have any spare money left at the end of the month, it makes sense to pay a bit extra towards any debts. The best way to decide which of your cards to pay off first is to use the 'snowball' method.
Snowballing is all about paying off your debts in the most efficient and cost effective order: it makes good financial sense to pay off the debts with the highest interest rate first.
Check out the Snowball Calculator to determine the best way to prioritise your payments.
The Credit Crunch is affecting everyone in some way, Sort your finances out is updated regularly with money saving tips, hints on how to increase your income and advice on how to maximise the money that you have. Follow us and you we will keep you up to date with the latest bargain buys, competitions and freebies as well as plenty of budget friendly advice.
About Me
- Cass@TheDiaryofaFrugalFamily
- I am a working mum of two beautiful children aged 7 and 4. I am really, really bad with money but I am trying so hard to be better. A couple of months ago we realised that we needed to sort out our spending habits and that if I was going to work full time, I needed to make sure that the time I spent at home with the kids was quality time (a cliche, but true). Now we are learning to live a more frugal life and spending more time together as a family. Feel free to e mail me about anything at: frugalmom@frugalfamily.co.uk
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