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Debt

Debt Avalanche Method: What is it, How it works, Example, Pros & Cons

What is it? It’s a debt repayment strategy where you pay off the higher interest rate debt first, then move on to lower interest debts. How does it work? This method works by first listing out all the debts you have in the order of higher interest rates to lower interest rates and allocating your […]

Categories
Debt

Debt Snowball Method: What is it, How it works, Example, Pros & Cons

What is it? It’s a debt repayment strategy where you pay off the smallest debt first, then move on to pay off higher debts. How does it work? It works by first paying the minimum payments for all your existing debts. Then sorting all the debts you have in the order of balance while the […]