Strategies to Pay Off Debt Faster (Snowball vs. Avalanche Method)
- Fatima Qureshi
- Jul 3
- 2 min read
Stuck in debt? These two science-backed strategies can help you escape.

The Debt Dilemma
Credit card balances, EMIs, personal loans—it can feel like you’re treading water, never really making progress. But with a structured plan, you can regain control and get debt-free sooner than you think.
Step 1: List All Your Debts
Debt | Balance | Interest Rate | Monthly EMI |
Credit Card A | ₹20,000 | 36% | ₹2,000 |
Personal Loan | ₹60,000 | 14% | ₹3,000 |
Credit Card B | ₹10,000 | 40% | ₹1,200 |
Snowball vs. Avalanche: What’s the Difference?
Strategy | Focus | Motivation | Ideal For |
Snowball | Pay off smallest debt first | Quick wins | Emotional momentum |
Avalanche | Pay off highest interest first | Long-term savings | Mathematically optimal |
How the Snowball Method Works
Pay minimums on all debts.
Put extra money toward the smallest debt first.
Once that’s done, tackle the next smallest.
Best for: People who feel overwhelmed or need motivation boosts.
How the Avalanche Method Works
Pay minimums on all debts.
Put extra money toward highest-interest debt.
Continue until all debts are paid.
Best for: Saving money in the long run.
Which One Should You Choose?
Choose Snowball if you need quick wins and motivation.
Choose Avalanche if you want to minimize total interest paid.
Can’t decide? Hybrid approach is also possible—start with Snowball, shift to Avalanche.
Bonus Tips to Accelerate Debt Payoff
Use bonuses or tax refunds to make lump-sum payments.
Avoid taking new loans during the payoff period.
Set up auto-debit to avoid late fees.
Track your progress monthly—it keeps you going.
Final Thought
Debt freedom isn’t a fantasy—it’s a formula. Whether you choose Snowball or Avalanche, the key is consistency + intention. Every rupee you pay down is a step toward peace of mind and financial strength.
Reference:
Investopedia. Debt Snowball vs. Debt Avalanche
NerdWallet. How to Pay Off Debt
National Foundation for Credit Counseling (NFCC).Debt Repayment Strategies
Commentaires