How the snowball method works
Pay minimums on everything, then throw every extra dollar at your smallest balance first, regardless of interest rate. Once it's paid off, roll that payment into the next-smallest balance.
How the avalanche method works
Pay minimums on everything, then throw every extra dollar at your highest-interest-rate debt first, regardless of balance size. This method minimizes total interest paid over time.
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Which one actually gets finished
Avalanche wins on pure math. Snowball tends to win on follow-through, because knocking out a full balance early creates a visible win that keeps people motivated through a long payoff journey.
The best method is the one you'll actually stick with for the full 12-24 months it usually takes — a mathematically perfect plan abandoned in month three helps no one.
Frequently Asked Questions
Can I switch methods partway through?
Yes. Some people start with snowball for early motivation, then switch to avalanche once the habit is established and the psychological win matters less.
Should I stop saving entirely to pay off debt faster?
Most guidance suggests keeping a small emergency cushion even while aggressively paying down debt, so a surprise expense doesn't force new borrowing.
Disclosure: this content is for educational purposes only and does not constitute personalized financial, legal, or tax advice. Consult a qualified professional for advice specific to your situation.