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MONEY PLAN
Avalanche vs. snowball, in plain English
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DEBT PAYOFF · 1/7
That’s the average rate on cards that charge interest, according to Federal Reserve data.
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DEBT PAYOFF · 2/7
Balance, APR and minimum payment. Seeing it all turns worry into a plan.
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DEBT PAYOFF · 3/7
Pause card spending and build a $500–$1,000 buffer for surprises.
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DEBT PAYOFF · 4/7
Pay the highest APR first. You pay the least interest overall.
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DEBT PAYOFF · 5/7
Pay the smallest balance first. Quick wins keep you motivated.
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DEBT PAYOFF · 6/7
Ask your issuer, try a 0% balance transfer (3–5% fee) or a credit union loan.
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DEBT PAYOFF · 7/7
Nonprofit NFCC counselors can help. Be wary of debt settlement companies.
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Methods compared, balance transfers and when to get help.
General information, not financial, legal or medical advice. nexgenheadlines.com