Debt Literacy
Debt decisions become clearer when every balance, rate, minimum payment, and due date is on the same page. The aim here is understanding, not a universal payoff prescription.
Debt Snowball vs. Avalanche: Compare the Tradeoffs
The debt snowball sends extra money to the smallest balance after all required minimum payments; the avalanche method sends it to the highest-interest debt.
Statement Balance vs Current Balance: Read Both
For a U.S. credit card, the statement balance records the amount at a billing cycle's close; the current balance reflects subsequent account activity.