Debt Snowball versus Debt Avalanche

[bjl584]

Debt Avalanche vs. Debt Snowball: What's the Difference?

[disneysteve]

Good summary. In the vast majority of cases, it really doesn't matter which method you use as long as you stick to the method you choose. The difference is typically minor, on the order of hundreds or maybe a couple thousand dollars. It's insignificant in the big picture if you pay off all of your debt in 4 years/3 months or 4 years/ 7 months. One is mathematically better but the other is more psychologically motivating. You need to know which type of person you are and which of those will keep you on track better.