Daily Juice 021 – What debt should you pay off first?

Daily Juice 021 – What debt should you pay off first?

You’ve got an extra cash or disposable income in your budget and want to pay off some of your debts off. Where should you focus? Cut down the credit cards or student loan? Knock off the home equity line of credit or kick the car loan off? Not all debt is creating equal. Paying off some will get you much further financially.

Here are a few steps to help you decide:

1. Understand what kind of debt are you dealing with? “Bad” vs. “Good”?

2. Make a list of your debts. What are the balances? What are the terms? What are your monthly payments and let’s get ready to create a payoff schedule.

Tune in for the rest…

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Anna Sergunina
Anna Sergunina

I'm Anna Sergunina, CFP®, President & CEO at MainStreet Financial Planning, Inc. My passion lies in serving others through financial planning, helping clients achieve their dreams like buying a home, saving for education, or retiring early. With over two decades in the industry and a CFP designation since 2009, I'm dedicated to excellence and continuous growth. Beyond work, I cherish moments with my son Liam, prioritize self-care, and engage in content creation for my Money Boss Parent Podcast and Money Library blog.

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