#avalanche method

[bitchesgetriches]

How To Pay off Credit Card Debt: From Snowball To Avalanche

There's no right way to pay off credit card debt. Throw everything at the highest interest card, the lowest, or split payments equally.

How To Pay off Credit Card Debt: From the Snowball to the Avalanche Method

Every time you pay off a debt, you roll the payment for that debt over into the next debt you have to pay. As you pay off debts, the total amount you’re paying every month stays the same while the total amount going toward the account you’re currently paying off increases exponentially.

The Snowball Method works, especially for those less logical than Tuvok. It has helped millions of folks get out of debt. Just as Kettle & Co. reveal in their study, the tactic is gratifying, simple, and fast. Like playing a video game, it makes paying off debt feel like leveling up. Every time you kill a debt, you’re able to face the next one with a bigger, stronger payment that does more damage.

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[bitchesgetriches]

hi bitches! I'm debt-avalanching my way through about $10k of credit card debt, and I'm making progress 🎉

BUT I need to call a plumber this month, which I wasn't prepared for. if I need to charge that to a credit card until my next paycheck, do I send that to the highest interest card? the lowest interest card?

Send it to the lowest interest card, my dear. Plumbing issues are no joke, but there's no reason you should pay more than you have to for the services of a professional!

Whenever possible, use the card that accrues the LOWEST interest. That'll keep you from accruing debt too fast.

You got this, honey! And for everyone wondering what the hell a debt-avalanche is, here's our guide:

How To Pay off Credit Card Debt: From the Snowball to the Avalanche Method 

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[bitchesgetriches]

Hi bitches! I have about $6K in debt across two credit cards (due to unexpected medical stuff) and the good news is my upcoming bonus comes out to almost exactly $6K. However, I also have what I estimate to be about $1K in car repairs needed sooner rather than later, which will leave me not quite enough to pay off both cards. The card with $4K has a higher APR, but I could pay the $2K off entirely and then put the remaining $3K-ish toward the bigger card. Which is better - pay off one card in full or tackle as much of the higher APR as possible???

Depends on your definition of "better." Do you want to know what will get you out of debt fastest, what will save you the most money in the long term, or what will give you the most satisfaction? If you'll allow me to Smokey-the-Bear you: only YOU can make that decision.

But assuming you're looking for a mathematical answer, we've got a how-to right here:

The Best Way To Pay off Credit Card Debt: From the Snowball To the Avalanche 

Whatever you decide, we know you'll succeed. You got this, babycakes!

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