Compared the debt snowball vs avalanche method on my own numbers. Snowball won by a mile for me.

Crunched the math on $43k of debt across 6 cards and a car loan. Avalanche would've saved me like $1,200 in interest. But I kept failing after 4 months each time. Switched to snowball. Paid off the smallest card ($800 store card) in 6 weeks. That win feeling kept me going. Now 14 months later I'm down to $12k. The interest savings don't matter if you quit. Has anyone else switched methods mid-way and seen a difference?

2 comments

2 Comments

jamie_clark11d ago

I saw this one finance guy on YouTube break it down pretty simple. He said the math on avalanche is perfect but humans aren't spreadsheets. That stuck with me. Had a buddy who tried avalanche for nine months and dropped it twice. Switched to snowball and knocked out a $300 medical bill first month. That little win got him to actually finish the rest. The interest difference only matters if you don't quit. Sounds like you proved that yourself with that $800 card.

diana31411d ago

Respectfully, I think the math matters more than people give it credit for - that $800 card cost me like two extra months of interest because I didn't pay it first. Snowball feels good but avalanche saves real money if you can tough it out.