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What is the best way to make minimum payments?

Submitted by Rusel on Mon, 06/29/2020 - 18:09

What is the best strategy to make minimum payments ? Shall I divide the minimum payments into 4 parts and pay in 4 weeks? Or, shall I pay the total amount once at the end of the billing cycle?

You can divide the minimum payments in 4 parts and pay the amount each week. As long as you pay the total amount, it's fine. Not an issue. The best part is you have to pay less interest every week. If nothing else, it will give you a psychological boost.

Submitted by David Martin on Tue, 06/30/2020 - 22:27

David Martin

( Posts: 394 | Credits: 3933 )

Hi Rusel! Why do you want to make minimum payments? By making minimum payments you are just stretching your debt an you will end up paying more interest than you otherwise would!
If you need debt help, call 800-DEBT-913 and get immediate assistance. The expert financial coaches are gonna help you out regarding your debt and advice you the best way to pay it off!

Submitted by Craigh.terry on Sun, 07/12/2020 - 21:17


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