However, when it comes to debt, an overwhelming number of financial experts recommend using one of two comparable, but not identical, payoff strategies: the debt snowball and the debt avalanche.

7. She picked the debt payoff strategy that worked for her The same debt payoff strategy doesn't work for everyone. While some may prefer paying off balances with the highest interest first (the ...

Credit card debt management isn't a magic solution, but it can be a powerful debt relief tool for the right person.

Before we dive into credit card payoff strategies, here’s a look at a few key statistics to help you see how your debt compares to others. 48% of credit cardholders have carried a balance at ...

And if you have debt on more than one credit card, planning also helps you focus on which balance to pay off first. Below, CNBC Select outlines three common strategies for paying off debt.

I'm eager to check this off my financial to-do list in 2025. After researching debt payoff strategies, I met with certified financial planner André Small, to see if it made more sense for me to ...

Nonprofit credit counseling agencies provide a number of services, including helping consumers figure out the right strategy for paying off debt. A credit counselor or debt counselor can look at ...

They usually encourage you to use a debt payoff strategy like the snowball or avalanche method. These programs can help motivate you to stick with a plan and/or make extra payments toward your ...

meaning that the strategy could offer big relief to seniors who are simply unable to pay off their debt through other means. Other factors to consider: This type of debt relief typically requires ...