3 Top Debt Payoff Strategies

[Suba]

We often meet people who have a lot of debt and of course their finances are unhealthy and will ruin their future. They all want to be free from debt but don't know how. Here are some of the most popular strategies used to pay off debt, namely:

1. Snowball Strategy
This strategy allows us to pay off debt starting from the smallest amount first and sequentially pay off larger debts.

2. Avalanche Strategy
The avalanche strategy pays debts based on the order of the largest/highest interest.

3. Debt Consolidation
The debt consolidation strategy is suitable for those who have difficulty managing debt, so they need to combine various types of debt into one bill/debt to a lending institution

 

[Springtime]

I dislike borrowing money. I don't have any debts. If I do, I think I'll try to work hard. make money and pay off the debts as soon as possible.

 

[Suba]

I dislike borrowing money. I don't have any debts. If I do, I think I'll try to work hard. make money and pay off the debts as soon as possible.

What I'm presenting is just a theory bro, not based on my experience but based on research by financial experts, which may be useful for anyone. It's no different when we study leadership management in college, we don't have to be leaders first.

 

[Min George]

One thing that I really avoid doing is to get in too much debts. When it accumulates, it becomes a huge burden to pay off.

 

[Augusta]

I'm always for Snowball Strategy with debt payments it allows for pay off of debt starting from the smallest amount first and pay off larger debts later