The debt snowball and debt avalanche methods both prioritize one balance while you keep making minimum payments on the others. The best method is the one you can follow consistently.
Compare the methods
The snowball targets the smallest balance first and can create quick motivation. The avalanche targets the highest interest rate first and may reduce total interest. List your balances, rates, and minimum payments before choosing.
FAQ
Can I combine both methods?
Yes. You can begin with a small balance for momentum and then focus on the costliest debt.