 TITLE: Debt Snowball Strategy: How Does It Work? CONTENT: Difference Between Debt Snowball and Debt Avalanche\n---------------------------------------------------\nAnother way to pay off your debt is by using the debt avalanche method. This approach rearranges the order in which you pay off debt by focusing on the loans or credit cards with the highest interest rates instead of the lowest balances.\nThe idea is that by eliminating the debts with the highest interest rates first, you'll save more money on interest. The actual difference, however, may not be a lot.\nUse the debt avalanche method if maximizing your savings is your top priority. But if you like the idea of getting rid of balances faster by focusing on the small ones first, use the debt snowball strategy. END