Before I researched the best way to get out of debt, I would pay extra on every debt that I possibly could which was great in theory but was not bringing me to the point I hoped to be quickly enough. I was working on my debts the same way I was working on other things in my life and that was without real purpose. You see I wasn’t really making any great strides because I wasn’t focused. Once I became focused on one particular debt I began to put my efforts there and saw results.
One of the best ways I have found to pay off debt is by focusing your money on the debt that has the lowest balance. For example, if you have a debt with a balance of $275 and one for $780 it would be best to focus on the lowest balance of $275. Once you pay off this balance (and it should be done fairly quick), you would take the payment you were making on the low balance and combine it with the next lowest balance payment. Before you know it, you will have paid off several small debts and will be on your way to getting out of debt. While paying off our debt, I really gained confidence once I saw the debts being paid off. It really works and I highly recommend this method.