Cover story
Issue 26
Why paying off the wrong debt first costs you more than you think
A magazine from Balance Buster
The Ledger
Stories about money, told honestly.
Established 2024
Volume 01 · May 2026
Free online
Cover story · Strategies
Why paying off the wrong debt first costs you more than you think
Most people attack the smallest balance first because it feels good. That instinct isn't wrong, exactly — but it has a price, and the price has a number.
Read the essayIn this issue.
Read one at a time, on a quiet evening. No popups, no countdowns, no “tap to unlock the free PDF.”
Strategies
No. 01
Why paying off the wrong debt first costs you more than you think
Why paying off the wrong debt first costs you more than you think
Most people default to paying off their smallest balance first. It feels good. It also costs an average of $1,200 more in interest than the...
Strategies
No. 02
Why paying off the wrong debt first costs you more than you think
Why paying off the wrong debt first costs you more than you think
Most people start with the smallest balance because it feels manageable. Sometimes that's fine. Sometimes it quietly adds hundreds of dollar...
Money Tips
No. 03
What Is a Good Debt-to-Income Ratio?
What Is a Good Debt-to-Income Ratio?
Understanding your DTI ratio and why lenders care about this number more than your credit score.
Motivation
No. 04
How to Stay Motivated While Paying Off Debt
How to Stay Motivated While Paying Off Debt
The psychological tricks and practical strategies that keep you going when debt payoff feels endless.
Money Tips
No. 05
7 Debt Payoff Mistakes That Keep You Stuck
7 Debt Payoff Mistakes That Keep You Stuck
Avoid these common pitfalls that derail even the most determined debt-free journeys.
Strategies
No. 06
Balance Transfer vs Personal Loan for Debt Payoff
Balance Transfer vs Personal Loan for Debt Payoff
Two popular options for consolidating debt—but which one will save you more money?
Calculator Guides
No. 07
How to Use the Debt Snowball Method (Step-by-Step)
How to Use the Debt Snowball Method (Step-by-Step)
The complete guide to the debt snowball method, from listing your debts to celebrating your final payment.
Strategies
No. 08
Is Debt Consolidation Worth It?
Is Debt Consolidation Worth It?
Debt consolidation sounds appealing, but is it the right move for you? Here's how to decide.
Calculator Guides
No. 09
How to Pay Off $10,000 in Credit Card Debt
How to Pay Off $10,000 in Credit Card Debt
A realistic, step-by-step plan to eliminate $10K in credit card debt faster than you thought possible.
Strategies
No. 10
Debt Snowball vs Avalanche: Which Strategy Is Right for You?
Debt Snowball vs Avalanche: Which Strategy Is Right for You?
Compare the two most popular debt payoff strategies and discover which one fits your personality and financial situation.
From the editor
A small note, before you read on.
We don't run ads we wouldn't read ourselves, and we don't sell “debt freedom courses” on the back page. What you'll find here is the kind of writing we wanted to read when we were paying ours down — patient, specific, and willing to admit when the math and the heart are pulling in opposite directions.
If something here helps, send it to a friend. If it doesn't, write to us. The letters page is the best part of this magazine.
With care,
The Balance Buster Editors The Ledger
The Balance Buster Editors The Ledger