What’s the best way to pay down debt?


“After buying her parents’ fixer-upper, Paula racked up $85,000 in debt. She’s looking for strategies to help reach her goal of paying it off within four years.

Q. I am retired and have money coming in every month from my company pension and Canada Pension Plan (CPP) totalling about $3,400 net per month. I bought my parents’ home and paid for it in full, in cash. But it needed a lot of work and I went into debt in order to cover the maintenance and renovations. I now have total debt of about $82,430. Which of these debts should I pay off first? “

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