Which Debt to Pay First?

Having a choice is tough – you have a mortgage and credit card debt. Which one is to be paid first? If you are still in the grace period of the mortgage, it is a no-brainer: pay your credit card debt before its interest accumulates more and more. If your mortgage grace period is over, the choice is not so easy to make because if you don't pay your mortgage, you risk losing your house but on the other hand, mortgage interest rates are much lower than credit card interest rates, so you still need to make your best to pay off as much credit card debt as possible.

 

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