What are debt avalanche and debt snowball?

The debt avalanche and debt snowball are two popular methods for approaching repayment. With the debt avalanche method, you’ll focus on paying off your debt with the highest interest rate. This may mean you throw any extra cash you have at the debt, while continuing to make minimum payments on your debts.

Is the debt avalanche method better than the debt snowball method?

If so, the debt avalanche method may work better for you. Comparing the methods from a purely financial standpoint, the debt avalanche method saves you more money in interest than the debt snowball method will.

How much money would you pay if you had a snowball Avalanche?

According to the calculator, you’d instead pay $10,374 over 24 months using the snowball method and $9,922 over 23 months using the avalanche method. Which is better: A debt snowball or avalanche?