Choosing
a debt reduction method for you comes down to how your mind works and the type of debt you have.
Debt Reduction Methods and Philosophies: Snowball, Avalanche and More — Do you know the difference between the snowball and avalanche debt reduction methods?
Many young people appear to be somewhat comfortable carrying a certain amount of debt, and that leads to
a debt reduction method known as the siege.
After selecting
a debt reduction method, get a jump - start by using any year - end bonuses or cash gifts and begin to attack your debts.
All debt reduction methods have associated fees and / or closing costs, and some have tax ramifications with possible deductions or penalties, so consider this when doing cost - benefit calculations.