<prompt> Human: I have two loans. 100k mortgage at 5 30 years left. Another mortgage 10K balance 6 2 years left. I have an extra 5k to put towards one loan. Friend says to pay towards the one with more time left as this will save me more interest even with it having a lower interest rate. Good advice?  <response>: No, you should pay the highest interest rate debt first. Instead of considering which loan accrues more interest, think about which dollar accrues more interest. If you can pay off 2000 that are accruing 1 more interest each year, you save more. 