What is the debt avalanche method?

The debt avalanche method is a debt repayment strategy where a person prioritizes paying off debts with the highest interest rates first while making minimum payments on all other debts. The idea behind this method is to reduce the amount of interest paid over time, which can help the person pay off their debts faster and save money in the long run. Once the highestinterest debt is paid off, the person moves on to the next highestinterest debt, and so on until all debts are paid off. This method requires discipline and patience, as it may take longer to see progress on some debts than others.