Debt Snowball vs Debt Avalanche: Which Strategy Eliminates Debt Faster?

By David

May 09, 2025

In Personal Finance

Debt Snowball vs Debt Avalanche: Which Strategy Eliminates Debt Faster?

So, you're staring down a mountain of debt and feeling overwhelmed? You're not alone! Many people are searching for the best way to tackle their debt, and two popular methods often come up: the debt snowball and the debt avalanche. Both aim to get you debt-free, but they approach the problem from different angles. In this article, we'll dive deep into the debt snowball vs debt avalanche debate, exploring their pros, cons, and which might be the perfect fit for your unique situation.

Understanding the Debt Snowball Method: Motivation First

The debt snowball method, popularized by Dave Ramsey, focuses on quick wins to keep you motivated. The idea is simple: list all your debts from smallest to largest, regardless of interest rate. You then throw every extra dollar you can at the smallest debt while making minimum payments on everything else. Once that smallest debt is gone, you take the money you were paying on it and