What is the debt snowball method?

The debt snowball method pays off debts from smallest to largest balance, regardless of interest rate. This provides psychological wins and momentum as you eliminate debts quickly.

What is the debt avalanche method?

The debt avalanche method pays off debts from highest to lowest interest rate. This saves the most money on interest over time, though it may take longer to eliminate your first debt.

Which debt payoff method is better?

Avalanche saves more money on interest, but snowball provides faster psychological wins. Choose avalanche if you're motivated by math, snowball if you need momentum and quick victories.

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