Educational Article
Strategies to Pay Back Debt
Getting out of debt is a lot easier if you have a game plan.
You Can Get That Debt Under Control
Thinking about debt can feel stressful and overwhelming. But it does not have to be that way. There are two popular strategies to repay debt called Debt Snowball and Debt Avalanche.
Debt Avalanche
The debt avalanche method involves paying off debts with the highest interest rates first, while making minimum payments on other debts. This approach reduces the total amount of interest paid over time, allowing for faster debt elimination.
Debt Snowball
The debt snowball method involves paying off debts with the lowest balance first, while making minimum payments on other debts. This approach will give you faster wins and motivation to keep going.
Be a Debt Destroyer®
Get more information about each of the steps above in our Guide.