Tackling Personal Debt

I’ve got occasional inquiries from friends on personal debt strategies:  how to pay them down?  how to prioritize?  Are there any tricks you’ve learned at UBS or Stanford?

To the last question, no.  There are no special tricks.  Take the highest interest debt and work on winnowing that down, while maintaining minimum payments on all other debts.  When that highest interest debt is paid off, move on down to the next highest interest debt, and tackle that one.

No tricks, but a whole lot of personal discipline and commitment to becoming debt free.


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