Borrowology

Paying off debt with snowball or avalanche

What changes when you pay the minimum, use debt snowball, or pay the highest rate first with the debt avalanche. The comparison is interest, not a score.

3 guides · about 13 minutes

  1. Debt snowball vs avalanche

    Debt snowball vs avalanche: paying the highest rate first usually costs less interest. Paying the smallest balance first can clear an account sooner.

     9 min
  2. How credit card interest is charged Short overview

    Some cards charge interest every day. A simple monthly estimate divides the yearly rate by 12. Those are not the same bill.

     2 min
  3. How long a debt stays on your report Short overview

    On a United States credit report, most negative items stay about seven years. The deadline to sue is separate and depends on local law.

     2 min