Debt Payoff Strategies\n\n## The Snowball Method\n\nPay off your smallest debts first, regardless of interest rate. This provides quick psychological wins, motivating you to keep going.\n\n* Pros: Highly motivating.\n* Cons: You may pay more in interest over time.\n\n## The Avalanche Method\n\nPay off your highest-interest debts first. This is the most financially efficient method.\n\n* Pros: Saves the most money on interest.\n* Cons: May take longer to get the first debt paid off, which can be discouraging.