The avalanche debt repayment method focuses on tackling the debt with the highest interest rate first. You make the biggest payment possible to the debt with the highest interest rate while making the minimum payment on other debts.
Once the higher-interest debt is eliminated, apply the minimum payment from the eliminated debt on the debt with the next highest interest rate and so on.
By eliminating the most expensive debt first, you can effectively cut down the amount of interest you pay each month. The avalanche method helps you save the most in interest.
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