Snowballs or Avalanches: Which Debt Reduction Strategy Is Best for You?

debt reduction strategy

Are you in debt? Well, according to Transunion, many of us are — at least when it comes to credit cards.

If you answered “yes,” then my guess is that you really want to get out of debt and need a debt reduction strategy.

Once you come to this decision and begin looking for ways to get out of debt, you’ll likely find two methods:

  1. The Snowball Method
  2. The Avalanche Method

Let me briefly describe both — and which one is better.

 

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