Which strategy is best?

Which strategy is best?
The Debt Avalanche will always save the absolute most amount of money, but the difference may not be very large between that method and the Debt Snowball method, depending on your situation. If you are simply going by the numbers, the Debt Avalanche method has the slight edge.

Although the Debt Avalanche saves you the most money, there is a psychological effect that should not be discounted. Unless your highest interest rate also happens to be on your smallest debt, it will take a lot longer to pay off the first debt using the Debt Avalanche method. Seeing your first debt being repaid more quickly gives you a psychological boost that can keep you focused and intent on repaying your debt.vBig Boss vote