Paying Off Credit Cards Is the Best Financial Return for Your Money

Great article on Lifehacker about prioritizing paying off your credit card debt as a personal finance mandate.

If you’re like me, who for some reason has been suckered with 20% APRs on his credit cards, then paying off your credit card debts is the best thing you can do to get back to saving $.  It’s kind of obvious as there is no benefit, other than avoiding paying one large lump sum for a purchase, for carrying a huge debt with an outrageous APR.  Consider it a short-term loan with an extremely high interest rate and you’ll quickly recognize its effect on your savings.