Money Saving Expert Martin Lewis has went into detail about a method of paying off your debts with high interest rates.
The financial guru spoke about debt repayments on his ITV programme, The Martin Lewis Money Show.
In a segment of the show, Martin described how people can use a new 'snowballing' method of paying off what they owe.
READ MORE - Martin Lewis advises viewer on how to tackle her debts without using a loan
In Tuesday's (January 17) episode, Martin said: "If you have multiple debts, the rules change. I want you to list all your debts in order of interest rates, highest first, which for many will be the overdraft.
“And then, you take all the spare cash you possibly can have and you put it into clearing the highest interest rate debt.
“You only pay the minimums on the others. It’s not something I’d normally say, but with multiple debts, I would.
“Then when this one [the highest interest rate debt] goes, because you paid it off - you then focus on clearing the next highest interest rate debt.
“Why? Because that’s the one growing quickly and costing you the most. And once that goes, you clear the next and the next and so on.
“It’s known as snowballing.”
More information on high interest rate repayments can be found on the Money Saving Expert website.
The Martin Lewis Money Show returns to ITV on Tuesdays at 8pm.
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