When it comes to our debt, we are in disgust.  We hate knowing that we owe other’s money, and that we need to keep working it off.  Although, what can be confusing is to know which debts to pay off first.  Debt is debt, but some can do more harm in the long run than others can.  If you’re looking to work on paying off your debt, consider a few of these to pay off first.

Highest interest – You should find out which debts have the highest interest rate.  This is what you will want to pay off first because it will hurt you the most if you keep pushing it off.  Sooner than you know it, you’ll be paying double if you keep letting it rack up.

Credit cards – Credit cards are dangerous for some people.  They either spend more than they make, or make unwise purchases.  Credit cards can be bad because all it takes is a swipe to buy something, yet maybe years to pay off.  Therefore, you want to consider the interest rates on these cards and get them paid off as soon as possible.

Student loans – A lot of young adults are carrying student loan debt around with them.  If this is you, you want to get rid of this as well.  Make good payments on this monthly so you can avoid huge interest rates.

Car – You probably have an average car, with an average car loan.  If so, you want to get rid of this debt as well.  Although, this isn’t a top priority.  The ones listed above go much higher before this one.  This is something you can make the minimum payments for and not feel too bad.

Mortgage – You mortgage is probably your biggest debt, but it probably has the lowest interest rate.  It is important to make payments and try to pay it off as soon as possible, but what is the rush?  If you’re young, make the minimum payments and start building up your savings instead.

Debt isn’t a good thing, but is something they almost everyone has.  I suggest you pay off your debts in this order.  It is important to get rid of the ones with the highest interest rate so that you don’t end up paying a lot more in the long run!