Question

Why does paying off the highest interest rate credit card first make the most mathematical sense?

Answer 1

Answer:

Paying off the highest interest rate credit card first makes the most mathematical sense because it will save you more money and allow you to redirect funds to other financial goals faster. Paying off the highest interest rate first is better because this way you get to avoid financial problems and avoid having to pay too much money of interest since the card with the highest interest rate is usually the one that will cause you the most financial pain.

Answer 2

Because you’re paying interest first so the faster you pay off the interest the faster you get to the principal and pay the actual debt off