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Money Matters| Snowball vs Avalanche—Which Debt Repayment Strategy Can Maximize Your Savings

Debt can be scary and overwhelming, but with the right strategy, it can be managed and eliminated. Two popular approaches to debt repayment are the balloon method and the avalanche method. Each has its own advantages and disadvantages, and the best choice for you will depend on your specific financial situation and goals. Debt is a heavy burden, both emotionally and financially. It can limit your ability to save, invest, and achieve your long-term goals. Fortunately, there are several effective strategies you can employ to reduce your debt and regain control of your finances.

first published: Oct 13, 2024 09:02 pm