Choose the strategy that fits your psychology (or your math).
Getting out of debt is as much a psychological battle as it is a mathematical one. The **Snowball Method** involves listing your debts from smallest balance to largest, ignoring interest rates. You pay off the smallest one first to get a quick 'win', building motivation to tackle the next. The **Avalanche Method** targets the debt with the highest interest rate first. This creates the most mathematical efficiency, saving you the most money on interest over time, but it might take longer to see the first debt completely disappear.
If you are the type of person who needs to see immediate progress to stay motivated, the Snowball method is likely your best bet—studies show it has higher completion rates for this reason. However, if you are strictly analytical and want to pay the absolute minimum in total dollars, the Avalanche method is superior. The best strategy is ultimately the one you will actually stick to until you are debt-free.
Compare Snowball vs Avalanche strategies to crush your debt.
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