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Avraham "AY"  Rappaport, CLTC

President, Financial Professional

 

Yaniv "Jay" Natanov

President, Financial Planner

 

Eli Rappaport

Vice President, Financial Planner

 

Shlomo Rosenstein

Financial Professional

 

Ozzie Marizan

Financial Planner

 

Joseph Greer

Office Administrator

 

Premier Financial

6395 Dobbin Road, Suite 102, Columbia, MD 21045

 

Phone:  240-309-6001

 

Email: joseph.greer@prudential.com

Website: premierfinancial1.com

May/June 2022

Pay Off, Not Down

Pay Off Not Down

U.S. consumer debt—including money owed on credit cards and student and auto loans — reached $4.37 trillion in September 2021, according to the Federal Reserve. If you’re carrying balances on high-interest credit cards, choose one of these strategies to get out of debt.

Pay off the card with the highest interest rate or the largest balance.
Pay as much as you can toward one card, while paying the minimum on your other cards. When the first card is paid off, put the same amount toward the card with the next highest rate/ biggest balance.


Pay off cards with low balances first.
Eliminating several small balances may give you a psychological boost and help you continue the momentum with your higher balance cards.

Consolidate debt.
A debt consolidation loan allows you to pay off your cards and have a single monthly payment, often at a lower interest rate.

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Life insurance is issued by The Prudential Insurance Company of America, Newark, NJ, and its affiliates. Premier Financial is not affiliated with Prudential Financial. Premier Financial sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Premier is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Premier Financial and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Joseph Greer is employed by Eli Rappaport and not The Prudential Insurance Company of America or its subsidiaries.
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