The Benefits of Paying Off High-Interest Debt First

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When it comes to controling personal finances, paying off debt is often at the top of the priority list. But not all debt is created equal. High-interest debt, like credit card balances, payday loans, and some personal loans, can be especially damaging to your financial health. That’s why many financial experts recommend the strategy of tackling high-interest debt first. Here’s a breakdown of why this method makes sense and how it can benefit you.