Get out of debt fast using the Snowball or Avalanche method


Paying off debt can be a challenge, but could be the most rewarding feeling when its done.. There are two strategies you can use to pay off debt:

  • The debt avalanche approach.
  • The debt snowball method.

Whilst each are beneficial,  one approach is probably less complicated to stick with and make a bigger impact on your debt repayments. Here is the way to discover which approach may work for you.

Each technique requires you to list out your debts and make minimum payments on all except for one debt. The only difference between the snowball and avalanche is the order that you will pay off your debts. Some personal finance writers argue that one is better than another, while we believe it’s a matter of personal preference


  • The debt avalanche method involves making minimum payments on all debt, then use any last cash to repay the debt with the highest interest fee. This can frequently decrease payments through the years.
  • The debt snowball approach entails making minimum bills on all debt, then paying off the smallest debts first to get them out of the way before moving on to bigger ones. This approach could be useful for keeping electricity and willpower at the same.

Debt Avalanche

The debt avalanche approach involves making minimum payments on all debt, then the use of any remaining cash to repay the debt with the highest interest fee.

Using the debt avalanche method, you pay your debts from highest interest rate to lowest interest rate, regardless of balance. Mathematically this makes the most sense. You will pay less in interest if you tackle your debts in this order. Saving money on interest means you will pay your debts off more quickly. Isn’t the whole point of getting out of debt to do it as quickly as possible?

Just via switching the order of your debts, you can save alot in interest bills. For people with large amounts of debt, the avalanche technique can lessen the time it takes to repay the debt by some months.

Debt Snowball

The benefit of the debt snowball method is that it facilitates to build motivation for debt reimbursement. The debt snowball approach includes paying off the smallest debts first to get them out of the way earlier then shifting on to bigger ones.

Throwing huge bills at your debt is even more difficult if you do not see quick development.

With the debt snowball approach, you spot instant progress and may be capable of paying off a debt completely in just a few months.


If you are serious about tackling your debt, then pick which method is best for your own situation and personality. The best method is the one you can stick to. If you are a person that needs more motivation to pay off debt, then stick with the debt snowball method.

You can also use a combination of the two methods.  Both debt repayment plans are useful and can help you regain financial freedom.

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