Getting out of debt is about strategy as much as willpower. These guides cover the two proven payoff methods, how to choose between them, and the behavioral side of debt that most guides skip.
Both methods work. The honest answer about which one to choose: it depends on what motivates you. Here's a simple framework for deciding — and the hybrid approach if you can't choose.
The debt avalanche is the mathematically optimal way to pay off debt. You pay minimums on everything, then throw every extra dollar at your highest-interest debt first. Here's exactly how it works.
Missing minimum payments is scary, but the situation isn't hopeless. Here's the order of operations — from calling your creditor to understanding your real options — without the judgment.
The debt snowball pays off your smallest balance first, regardless of interest rate. It costs more in interest — but it works better for most people because quick wins build the momentum to keep going.