You pay the minimum on every debt, then put any extra money toward the debt with the highest interest rate first. It minimizes the total interest you pay.
What is the debt snowball method?
You pay the minimum on every debt, then attack the smallest balance first for quick wins. It costs slightly more interest but builds motivation and momentum.
Which is better — avalanche or snowball?
Avalanche saves the most money mathematically; snowball is often easier to stick with. The best method is the one you’ll actually follow.