 TITLE: How to Pay Off $25K in Debt Fast CONTENT: Utilize Debt Repayment Strategies\n---------------------------------\nIt helps to have a plan for how you're going to tackle your debt. Two popular approaches are the debt avalanche and debt snowball strategies. Although these methods are typically used to pay off high-interest credit cards, you can apply them to all types of debt.\n**Debt avalanche**: With the debt avalanche plan, you make the minimum monthly payments on all of your debts except the one with the highest interest. You put as much as you can afford each month to that high-interest debt until it's paid off. Then, once that debt is cleared, you move to the second-highest interest debt and repeat the process until all of your debt is repaid.\n**Debt snowball**: Under the debt snowball approach, you make the minimum monthly payments on all of your accounts except the one with the smallest balance. You prioritize the smallest debt, paying as much each month as you can, until it's paid off. After you've paid down that account, you apply the same approach to the second-smallest balance.\nAs you can see, the debt avalanche and debt snowball methods are similar philosophically, but differ in practice. The avalanche method will likely save you more money over the snowball method, but the snowball method may be easier to stick to since it provides faster and more frequent gratification. It really comes down to your preference and which strategy fits your timeline best. In either case, you'll make faster progress and save more on interest than simply paying your monthly minimums on all accounts. END