Whats the best way to pay off my debt?
Snowball it. Pay off your highest interest rate card first (or your lowest balance, if that is easier). Pay as much extra as you can. Once it is paid off, take whatever you were paying on the first one, and apply all of it to your next highest rate card. Once that is paid off, take what you were paying on both cards and pay off the next debt. Keep doing that until all debts are paid. Then when all the debts are paid off, take that nice monthly sum and start a savings account. Get 10 to 12 thousand dollars saved for an emergency fund. Then find a good financial planner and start investing the rest in a good mutual fund. The most important thing is to STOP spending money on your credit cards. If you can’t pay with cash, don’t buy it!
