Getting Ready for Marriage - Suggestions for Paying Down Debt
Don't add new debt while you’re trying to pay down your current debt. Some financial planners suggest that you pay off your highest-interest debt first - which is usually the credit card. Others recommend you pay off your smallest debt (regardless of the interest rate) in order to get it out of your budget and have a psychological victory of paying something off. There are multiple actions you could take, and you’ll need to decide what works best for you.
Remember, there will be pain - choose the pain of discipline now so you don’t have to experience the pain of regret later. Your marriage is much more valuable than a nicer car or a pair of fancy bikes. Staying out of debt will create freedom in your marriage. Here are a few suggestions to help you save some money and pay down your debt.