Tackling Debt: To Snowball or to Avalanche that is the Question?
Tackling debt can be daunting. But when you have multiple debts you need to pay off, the task can seem intimidating and become overwhelming for many. I remember, being in my mid-twenties saddled with an undergraduate student loan, a personal loan, a car loan, credit card debt, and a graduate student loan looming around the corner. I knew I had to figure out a way to address this debt and fast. So, I did what I always do when I want to learn something - I Googled it 😆. I started reading articles about different methods to use to pay off debt. This is how I initially learned about the Snowball and Avalanche methods. In my opinion, both methods are ultimately beneficial because they use strategy (whether based on emotion or logic) to help you pay off your debt.
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