If you have a bunch of loans on the go, focus on tackling one at a time. Pay more towards your highest-interest debt – the one that costs the most – and make minimum repayments on the rest. That’s the cheapest and quickest way out. But if you need a little extra momentum and motivation, pay off the smallest debt first for a satisfying quick win. When the first is done, funnel your extra money towards the next on your list. Rinse and repeat. Use the ĠEMMA Getting Out of Debt Calculator to work out how best to quickly pay off your debt: download

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