8 fool-proof ways anyone can pay off debt

We will review the best methods to pay off debt and their pros and cons. You’ll learn how to evaluate different options and know which one is best for you in the long run.

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Using debt wisely comes down to understanding the difference between good and bad debt and the right amounts based on your income and goals.

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Debt snowball

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Debt avalanche

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You pay off debts in order of newest to oldest. This method can help you improve your credit while you reduce your debt.

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Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.

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8 fool-proof ways anyone can pay off debt

We will review the best methods to pay off debt and their pros and cons. You’ll learn how to evaluate different options and know which one is best for you in the long run.

Using debt wisely comes down to understanding the difference between good and bad debt and the right amounts based on your income and goals.

How much debt is too much?

Debt snowball

You pay off debts in order of the smallest to largest balances, no matter their interest rates.

Debt avalanche

You pay off debts from the highest to the lowest interest rate. I really like this method because it’s the most cost-effective in the long run.

You pay off debts in order of newest to oldest. This method can help you improve your credit while you reduce your debt.

Debt landslide

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Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.

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