Harvard Business Review has spoken Their article examined several scenarios and once again proved the power of small wins. The effect also demonstrates how much more important how someone "feels" versus what they "know".
However, keep in mind that using whatever strategy does have costs. Paying off the smallest balance first might result in more interest paid over time or even a longer time to pay off all.
This highlights a common question people have about paying off debt - which way is the "best" way? The GOOD - Get Out of Debt Program - will analyze your specific situation to help you figure out which strategy is best for you. It may be the smallest balance, or something else entirely. But you'll know.
If you're interested in speaking about getting out of debt and getting control over your finances, message me and we can schedule a 15-30 introductory, no obligation meeting!
