I don't understand why anyone wouldn't use the avalanche method. How weak minded do you have to be that you need the snowball method to giver yourself a 'psychological win'?
In some cases it doesn't make any sense to pay off debt. For instance my car note is only 2%. There are many investments which yield a higher return than 2%.
Personally I just don’t like debt so I avoid it when ever possible. I’ve got my mortgage and that’s really it. I’m making a point to pay that off as quickly as possible.
Maybe if you have a small income to spend on the debt? I would pay off the biggest to smallest myself. But I can see how someone would need to save to pay off a big debt, so they tackle the small debts along the way.
Naw, just pay what you can on the highest interest. No matter your income that is the soundest way to go about it.
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