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Which one is better - Debt Snowball or Debt Avalanche?

Submitted by lindy on Tue, 01/10/2017 - 20:08

I have credit card debts to pay off. I have heard about 2 DIY options - Debt Snowball and Debt Avalanche. Which one is better?

Both are suitable DIY strategies to get out of debt.
Debt Avalanche is definitely better if you want to save money in the long run since you target and pay off the highest interest debts first and continue paying off the next highest interest debt.
In case of Debt Snowball, you start paying off your debts from the lowest balance; so, it can keep you motivated to repay till the last cent.

Submitted by Good Nelly on Fri, 01/13/2017 - 02:19

Good Nelly

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