Here's a summary of the debate:
Team debt snowball tells you that you should pay off your debts smallest balance to largest balance. The psychological boost that you receive from paying off the small debts will motivate you to stick to the debt payoff plan.
Team debt avalanche says, "You fools." Math indicates that you should payoff the highest interest rate first. That way you'll pay less over time.
Why do we waste so much time on this debate? The reason is that we can see that some plan is better than no plan.
It's much better to focus on debt payoff than to pay a little bit off here, and a little off there.
However, isn't even better to make a tailored plan that will work?
One size fits all debt payoff plans don't work. Instead of assuming that your favorite type of frozen water will work for everyone, let's get a little bit smarter. This is a guide to making your own debt payoff plan that will work for you.