00:00Are you putting money towards higher debt balances?
00:03UAE-based debt advisors caution against it.
00:07Here's why.
00:08Paying high-interest debt can often get complicated, as it makes sense to attack debts with higher
00:14balances first.
00:16However, higher-interest credit card debt can pile up much quicker.
00:21But if you don't pay your auto loan on time, your car will get repossessed.
00:25And if you don't pay your home loan on time, your home can get foreclosed.
00:30So how do you prioritize your debt payments?
00:32Using a debt repayment strategy like Debt Snowball Method can help.
00:37With this method, instead of focusing on balances with high-interest rate debt, focusing also
00:43on small balances as much as possible can help as well.
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