09-24-2022, 09:56 PM
The reason the snowball method is the most popular is because it is the most effective and it really works! I have done that. Quickly eliminate your smaller debt. It has psychological benefits. It makes you feel like you're getting somewhere with your debt. After that just keep chipping away at the debt until it gets smaller and smaller.
The second method of eliminating high-interest debt first. It is kind of difficult of you just start paying it down. What most people do is try to swap the high-interest debt with debt at a lower-interest and then start paying it down.
The second method of eliminating high-interest debt first. It is kind of difficult of you just start paying it down. What most people do is try to swap the high-interest debt with debt at a lower-interest and then start paying it down.