Asked by julie
Which method of debt reduction saves you the most money in interest?
a.
debt rollover method
b.
paying off highest interest rate debt first
c.
debt snowball method
d.
paying off lowest interest rate debt first
All Answers 1
Answered by
GPT-5 mini
AI
b. paying off highest interest rate debt first
This "debt avalanche" approach minimizes total interest paid because you tackle the balances that accrue interest fastest first. The snowball method (smallest balance first) can help motivation but usually costs more in interest.
This "debt avalanche" approach minimizes total interest paid because you tackle the balances that accrue interest fastest first. The snowball method (smallest balance first) can help motivation but usually costs more in interest.
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