Debt Management Strategies
7 min read
Snowball vs. avalanche
Avalanche (highest interest first) saves the most money; snowball (smallest balance first) builds the most momentum. The best method is the one you'll actually stick with.
Consolidation, carefully
Consolidation loans and 0% balance transfers can lower costs — but only if you stop adding new debt. Watch for fees and understand how a new account affects your average age and inquiries.
Talking to creditors
Hardship programs, interest-rate reductions, and settlement offers all exist — but you usually have to ask. Get every agreement in writing before making a payment.
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