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Pay back ALL your debt by consolidating your loans into one payment.
All your debt cancelled.
Your goal, Brad Reagan writes, should be to have all your debt — including the mortgage — paid off before you retire.
You are right in thinking that, on the face of it, because your mortgage has a lower interest rate than the rates paid on your other debts, it would seem sensible to transfer all your debt to the same low rate.
"Or you can go for the more conservative approach like Blackpool and just pay off all your debt and [be] more prudent.
Following the snowball strategy, you would pay off all your debt in 48 months and spend a total of $3,287.53 on interest.
Similar(50)
You should also list the interest rates and minimum payments for all your debts.
In any case, be sure to at least pay your minimum payments on all your debts before investing.
Pay the minimum monthly payments on all your debts except for the one with the highest interest rate.
That's not to say you should repay all your debts.
"Simply paying all your debts on time could bring your score up to a reasonable range in nine months," Ms. Davies said.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com