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What Are The Two Standard Debt Repayment Strategies And How Do They Work
Finance

What Are The Two Standard Debt Repayment Strategies And How Do They Work

People who have been in debt will be aware of how it can feel. It’s like exercising on a treadmill. Each month they pay a small sum to a loan, some to a card and finally they feel that they haven’t got anywhere. The good news is that it need not be that way always. How? The answer is a debt repayment strategy. The plan must be realistic to follow. Follow the plan, and you get moving in the right direction. In this article, we'll discuss high interest credit card debt. There’re several ways that people can attack their debt. Two are standard. The first is the snowball method.  In this method, people repay their debts by balance. Another tested method? Paying off debts by their interest rates. We’ll refer to this as the high rate method. How do the above strategies work? The Sno...