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Question
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which payment plan usually has the lowest total payments required to pay off your debt?
debt snowball
debt avalanche
even - split payments
varies widely by types of debt
The Debt Avalanche method focuses on paying off debts with the highest interest rates first. By reducing the amount of interest accrued over time, it typically results in the lowest total payments compared to methods like Debt Snowball (which targets smallest debts first, often leading to more interest paid overall), Even - Split Payments, or variable payments by debt type.
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B. Debt Avalanche