Trying to pay off your debt can seem impossible at times, but there are strategies that can help. Two popular methods that can help you prioritize your debt are the “snowball method” and the “avalanche method.” Cold and calculated, each will have you paying off your debt in a nice orderly fashion.
If you prefer to see progress quickly, try the "snowball method." You pay off the smallest of all your loans first. Paying off small debts quickly can feel rewarding. Once that debt is paid, you take the money you were putting toward that payment and roll it onto the next-smallest. The amount “snowballs” and the debt that is reduced gets bigger and bigger.
Some experts recommend the "avalanche method." You pay the loan with the highest interest rate first. You’ll pay less interest over time, saving you money in the long run. It may take time to pay off the debt with the highest interest rate. But once you do, your debt can start dropping fast.