Decisions to Make Before You Begin Paying Off Your Credit Cards\r\nAre You Going to Continue Using Your Credit Cards While You Pay Them Down?\r\nWhere Will the Money Come From to Pay Off the Debt?\r\nWhy Are You Doing This?\r\nPrepare for Winter!\r\nOkay, now that you\u2019ve made some decisions, let\u2019s talk about Winter. Winter, you ask? Not to steal from Game of Thrones, but winter is coming. And what I mean by that is when it comes to how to pay off credit cards, you can choose the snowball or avalanche method. Hopefully my less than funny winter and GoT references make sense now (nudge, nudge)!\r\n\r\nThe Snowball Debt Repayment Method\r\nThe snowball method for paying off debt looks like this: list out each credit product you have, from lowest balance to highest. Make minimum payments on all products except for the one with the lowest balance as this is the one you\u2019ll focus on. Let\u2019s say you have four (4) credit products (credit cards, line of credit, or overdraft). We\u2019ll call them A, B, C, and D. Take all of your extra money and put it onto product A, while making minimum payments on products B, C, and D. Keep this going until you have paid off product A. Then take all of the money you were putting on product A and now put it onto product B while making minimum payments on products C and D. When B is paid off, move everything over to C until it\u2019s paid off. And finally, put everything you\u2019ve got available on product D until it\u2019s paid off.\r\n\r\nsnowball\r\nThe Avalanche Debt Repayment Method\r\nThe avalanche method for paying down credit card debt looks a little different. List out each credit product you have from highest interest to lowest. Let\u2019s again say you have four (4) credit products (D, C, B, and A). Take all of your extra money and put it on product D, the one with the highest interest, while making minimum payments on C, B, and A. Once D is paid off, take the money and put it on the next highest interest product (C), and keep going until all products are paid off.\r\n\r\nThe Best Way to Pay Off Credit Card Debt and Get Out of Debt\r\nYou may ask which option is better \u2013 which option is the best way to pay off credit card debt fast and get out of debt quickly? I would suggest that you go with the one that feels the easiest and most doable. When it comes to money, it\u2019s so much more than dollars and cents, it\u2019s about feelings, confidence, experience, history, and practice. The avalanche method may be the most logical option; however, if it feels like it\u2019s going to take forever (insert eye roll here), then go with the snowball method, where you\u2019ll get quicker wins.\r\n\r\nRegardless of what you choose for how you\u2019re going to pay off your credit cards, choose something because inaction will just get you further into debt. And if you\u2019re lost, need advice, or even a cheerleader, call us and we can help you.