February 9, 2007, Newsletter Issue #51: Bill Paying Strategy

Tip of the Week

When you say "pay off my bills," you are referring to your debt. Debt is anything other than your basic living expenses. Credit cards, mortgages, student loans, that type of thing. Some people think any debt other than home mortgage debt is bad. In most cases, that's true, although depending on what stage of life you're at, a little credit card debt might not be a horrible thing.

Assuming you've already racked up a "little" credit card debt, a student loan or two, and you'd like to get out from under it, there are strategies that will pay off bills more quickly than others. To find out the best way to pay off your bills, visit Bankrate.com and use the site's Pay-down Debt Adviser calculator. You'll find it in the site's Calculator section.

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