Chapter 1 of 5
The Reckoning
Debbie finally opens all her loan statements and adds up the real numbers. $68,400 across 6 loans at rates from 4.5% to 7.8%. The minimum payments total $720/month. She's been paying for 4 years and the balance has barely moved.
Key Insight
At minimum payments, Debbie will pay $28,400 in interest over 10 years. The avalanche method saves $11,200.
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