This might be a silly question, but I’ve been trying to learn more about personal finance. I keep reading that it’s more important to pay down high-interest debt before low-interest debt. But what is considered high-interest? Is 10% high?

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An interest rate of 10% would generally be considered high and a debt with that rate would be a candidate to pay off early. If you look up the term "debt avalanche method" you'll get some practical advice on how and why to pay off higher interest loans.

It’s relative to the other debt but the bank rate is also considered the average if you like. Work top down in terms of what you decide to pay down.

Like M1 said, "high" is relative to your other interest rates. 10% isn't high if you have a 33% card you need to pay off. Compare your interest rates to each other, not to some universal standard :)

Compare all the debt you have and then you'll figure out which one is the highest..

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