which answer choice best describes the debt snowball method?\na. pay off credit cards in order of interest…
which answer choice best describes the debt snowball method?\na. pay off credit cards in order of interest they carry, lowest interest first\nb. pay off credit cards in order of interest they carry, highest interest first\nc. pay off credit cards in order of balance amount, lowest balance first\nd. pay off credit cards in order of balance amount, highest balance first
Answer
Answer:
C. pay off credit cards in order of balance amount, lowest balance first
Brief Explanations:
The debt - snowball method focuses on paying off debts with the smallest balances first to gain momentum and motivation, regardless of the interest rate.