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The Annual Meeting of The Membership will be held on Tuesday, April 23, 2024, at 5:00 p.m. CST.

August 08, 2023 Money Management

Debt Priority Options On Money Management

We recommend prioritizing your debts for the fastest possible payoff. However, there are four built-in prioritization options that you can choose from, based on your particular situation.

  • Fastest payoff first: Debts are ordered by which debt you will pay off soonest, based on balance, APR, and minimum payment. This ordering is considered the standard snowball method.
  • Highest interest first: Debts are ordered from the highest APR to the lowest APR. This ordering is often referred to as the “avalanche method”; it can save you more money over the life of the debt.
  • Lowest balance first: Debts are ordered by balance from lowest to highest.
  • Highest balance first: Debts are ordered by balance from highest to lowest.

To change your debt priorities:

  1. Select the dropdown menu on the top left.
  2. Select one of the four available options. The chart and all associated calculations will automatically update.