Does it matter which credit cards I pay off first?
Not really. Pick the strategy you’re most likely to stick with.
If you make to-do lists just to cross things off, you might like the snowball method. That’s when you pay off your smallest balance first. Then the second-smallest, and so on. A lot of experts like this approach because knocking out entire balances can build motivation to keep going until all your debt is gone.
If ‘efficiency’ is your middle name, you might prefer the avalanche method. That’s when you focus on paying the balance attached to the highest interest rate first. This saves you more money over time because you’ll pay less in interest.
