Debt Avalanche Method

The Debt Avalanche Method is a strategy for paying off debt efficiently. You start by listing your debts from the highest interest rate to the lowest. Focus all your extra payments on the debt with the highest interest while making minimum payments on the others. Once the highest-interest debt is paid off, move to the next one. This method minimizes the total interest you pay over time, allowing you to become debt-free faster. It’s a smart approach to managing debt, as it saves money in the long run.