Keep paying the minimum on every loan, then put every extra shilling into one loan at a time. Two good methods:
- Most expensive first (avalanche): clear the loan with the highest cost first. This saves the most money.
- Smallest first (snowball): clear the smallest balance first. Quick wins keep you motivated.
Short-term mobile loans and overdrafts are usually the most expensive, so many people start there. When one loan is cleared, add its payment to the next one.
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