Buried in Debt? Try the Snowball or Avalanche Method to Get Out

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Does your current debt have you feeling stuck with no place to go? Many people have some form of debt, but it’s not always a healthy amount. Indeed, many people have accumulated so much debt that fighting feelings of hopelessness can be difficult.

But don’t quit.

You can explore many resources. (For example, you can sharpen your knowledge about the importance of responsible credit and debt management as you learn about the best ways to improve your credit score.) Start managing your debt better today with some more attention on your finances.

Buried in Debt? Try the Snowball or Avalanche Method

Consider two techniques for making repayments on a large amount of debt:

The snowball technique, or the avalanche technique.

The snowball approach focuses on first paying off the smallest balances completely while making only minimal payments on other accounts. The avalanche approach, however, pays off the highest interest accounts . . . → Read More: Buried in Debt? Try the Snowball or Avalanche Method to Get Out