Debt Snowball and Debt Avalanche Methods

If the coronavirus pandemic has taught us one thing about personal finance, it’s that tackling debt should be a priority during good financial times. When debt is used appropriately, such as buying a house, it can enhance our lives and help us build wealth. However, when debt is used inappropriately or excessively, it can have dire financial consequences.

I think the use of debt will increase in the short term because interest rates are so low. The key to debt is to use it wisely to pursue your financial goals in a risk-appropriate manner. In this article, I will present two well-known methods for tacking debt.

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