![Businessman smiles while working on laptop.](https://www.bankrate.com/2020/02/28110205/how-to-use-the-debt-avalanche-payment-strategy.jpg?auto=webp&fit=crop&width=230&height=150)
How to use the debt avalanche payment strategy
The debt avalanche method is a good way to tackle multiple debts.
Heidi Rivera is a personal finance writer and reporter for Bankrate. Her areas of expertise include personal loans, student loans and debt consolidation, in addition to data collection and analysis. Heidi started covering personal finance topics in late 2018 and her work has been featured in several publications, including Money, MSN Money, Yahoo Finance and Money Under 30.
Before working in finance, Heidi spent several years in post production, working as a subtitle editor for different TV and film studios.
When she isn’t giving her best financial advice, Heidi enjoys spending time with her cats, crafting and pinning home decor ideas on Pinterest.
Before applying for any loan product, make sure you understand how the APR (annual percentage rate) works and how it accrues. I certainly didn’t know this when I took out private student loans in college and was surprised to see how much my balances had grown once I graduated. If possible, make interest payments even when you’re in your grace period — this can make a world of difference in the long run.
The debt avalanche method is a good way to tackle multiple debts.
Student loan payment resumption has recently had a notable impact on borrowers’ financial security. President Biden’s new proposal aims to alleviate the distress faced by those struggling with loan [...]
Personal loan deferment may be your best option. Find out if it’s right for you.
Is refinancing the best option for your student loans? We weigh the pros and cons.
How much does it cost to adopt a child?
The purchase price of a private jet is only one element of the overall cost.
Who’s the better online lender between Best Egg and Laurel Road? Find out here.
Financing for engagement rings is available no matter the cost of your dream ring.