The best way to pay off credit card debt

The Best Way To Pay off Credit Card Debt: From the Snowball To the Avalanche

The Harvard Business Review recently published a study on “the best strategy for paying off credit card debt.” Set aside for a moment the idea that you should try not to rack up credit card debt in the first place (shit happens, no judgment). This study benefits the millions of Americans who are literally $800 billion in collective credit card debt according to the Federal Reserve. So it’s a problem that needs a solution.

The researchers tested a couple of different methods for credit card debt reduction:

  1. Dispersing payments equally across every credit card each month.
  2. Concentrating as high a payment as possible on one account at a time.
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I Read a Book About Warren Buffett. Here's What I Learned.

I Read a Book About Warren Buffett. Here’s What I Learned.

So I read The Snowball by Alice Schroeder. It’s an absurdly long, absurdly detailed book about one of the most famously wealthy people in the world: Warren Buffett. Notorious for his frugal ways and uncanny ability to predict the future of the stock market (no seriously), Buffett’s name has become synonymous with financial success. Which is why I read the book.

I wanted to see if the Wizard of Omaha (I know—not nearly as sexy as the Wolf of Wall Street) had anything to teach me about making lots of money.

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