Debt Repayment Strategies

Debt repayment strategies are planned approaches to paying off what you owe. Common methods include the "avalanche," where you prioritize paying off high-interest debts first to save money over time, and the "snowball," where you focus on paying off smaller balances first to build momentum and motivation. Choosing the right strategy depends on your financial situation and goals. Consistent payments, avoiding new debt, and budgeting are key to successfully reducing debts. Clear planning and discipline help ensure you pay what you owe efficiently and regain financial stability.