Debt Snowball vs. Debt Avalanche: Choosing the Best Debt Payoff Strategy
May 01, 2025
So, you're staring down a mountain of debt and wondering how to conquer it. You're not alone! Millions of people are in the same boat, and thankfully, there are proven strategies to help you get back on track. Two of the most popular methods are the debt snowball and the debt avalanche. But which one is right for you? Let's dive in and explore the pros and cons of each so you can choose the best debt payoff strategy for your unique situation.
Understanding the Debt Snowball Method
The debt snowball method, popularized by Dave Ramsey, is all about quick wins. The core idea is to list your debts from smallest to largest, regardless of interest rate. You then focus on paying off the smallest debt first, while making minimum payments on all other debts. Once that first debt is gone, you take the money you were putting towards it and
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