If you’re struggling to pay down some outstanding debt, how to you know which one to tackle first? Most experts say pay off the most expensive debt first! Not everyone abides by this approach, and instead prefers to pay off the smallest debts first to build momentum and a sense of accomplishment. But paying off the most expensive debt first helps save more money in the long run by reducing interest and fee payments. Credit card debt is often the most expensive debt that people carry, followed by auto loans and student loans. And remember, any debt with a variable rate can go up quickly when interest rates start to rise!