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Hi, I'm Dave.

You have financial goals and my job is to help you get there.

Blog Post
  • Writer's pictureDave Wallace

The Fastest Way to Become Debt-Free (Debt Snowball vs. Debt Avalanche)

Updated: Jan 24, 2023

Is it best to pay off debt using The Debt Snowball or The Debt Avalanche method?
There's a better way to pay off your debt.

Trying to pay off debt can feel overwhelming. Becoming debt free is like having a tremendous weight lifted off your shoulders. That feeling of doing the work to become debt free is best described as financial peace.

But, what's the best method out there to become debt-free though? The Debt Snowball or The Debt Avalanche method?

The "snowball method," simply put, means paying off your debt from smallest to largest balance until all debt is paid off.

The "debt avalanche method" means paying off your debt in order of highest to lowest interest rate.

Banks and lenders in general pump up "the debt snowball" method as being the best option, saying it's "easier" to start with the smallest balance and build momentum. It's no coincidence that this approach nets lenders more of your hard-earned dollars...

The "debt avalanche method" is the best approach to pay off your debt, because you are tackling the most expensive debt first, therefore, reducing balances faster and saving you money in the process.

To pay off your debt using the "avalanche method":

1. Pay all your minimum payments

2. Listing your debt from highest to lowest interest rate

3. Build an emergency fund of 1 month's expenses

4. Make overpayments into your highest interest rate debt until paid off

5. Roll overpayments into the next highest interest rate debt, until all debt is paid off

After this process is complete, you will join the elite group making up 25% of Americans who are DEBT-FREE.

Would you like to become debt-free in 2023? (comment on Instagram)

If so, you don't have to get it perfect. Just get started.

You've got this!

All the best,


P.S. Download are share the cheat sheet.

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