Which debt payment method is better?

  • The snowball and avalanche methods are two popular strategies for paying down debt.
  • The snowball method tackles the lowest balances first and offers small, immediate wins.
  • The avalanche method prioritizes higher-interest debt, which minimizes long-term costs.
  • Read more Personal Finance Insider stories.

Paying off multiple debts can be challenging. Having a strategy, and sticking to it, is key to making this happen.

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