If you're carrying more than one debt, the question isn't just "how do I pay this off" — it's "which one do I pay off first." Two methods dominate this conversation: the snowball and the avalanche. Both work. They just work differently, and picking the right one for you matters more than picking the "mathematically correct" one.

The debt avalanche has you list every debt by interest rate, highest to lowest, and throw every extra dollar at the highest-rate balance first while paying minimums on everything else. Once that one's gone, you roll its payment into the next highest rate. Mathematically, this method saves you the most money in interest over time, full stop.

The debt snowball instead lists debts by balance, smallest to largest, regardless of interest rate. You attack the smallest balance first, then roll that payment into the next smallest. It usually costs a little more in interest, but it front-loads quick wins — and for a lot of people, that momentum is the difference between sticking with a payoff plan and giving up on it three months in.

So which one is "right"? If you're the kind of person who's motivated by logic and can stay consistent without frequent wins, the avalanche will save you real money. If you've tried to pay off debt before and lost steam, or if you just know you need proof it's working to keep going, the snowball's quick wins are worth the extra interest — think of it as the cost of a strategy you'll actually finish.

A few things matter regardless of which method you pick. First, keep making minimum payments on every debt except the one you're targeting — missing minimums anywhere undoes your progress with fees and credit damage. Second, put a real number on your "extra" payment each month before you start, even if it's small; consistency beats intensity here. Third, revisit your list every few months, since balances and rates change and your motivation might shift too.

There's no prize for picking the "smartest" method if it's not the one you'll stick with. The best debt payoff plan is the one you're still following six months from now.