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The avalanche debt method
In the debt avalanche method, you pay your debts from the highest interest rate to the lowest interest rate, regardless of balance.
You will pay less in interest if you pay off your debts in this order. You will also pay it off faster.
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MORE IDEAS FROM THE SAME ARTICLE
With this method, you pay off your debts from the smallest balance to the largest balance, regardless of interest rates.
The supporters of the two methods are both enthusiastic about which one to use. However, it barely matters which system you use. The best approach is the one that keeps you motivated.
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