When you are staring down a mountain of debt, you need a strategy. The two heavyweights are the Snowball and the Avalanche.
Debt Snowball
Pay off balances from smallest to largest, regardless of interest rate. Best for: People who need quick psychological wins.
Debt Avalanche
Pay off balances from highest interest rate to lowest. Best for: People who want to pay the least amount of math-based interest.
The truth? The best method is the one you actually stick to.
