“Snowball” debt! If you aren’t familiar with this concept by Dave Ramsey, it is basically making minimum payments on your debts, and applying all the extra you can to the smallest one. Then, when that is paid off, take the amount you were paying and add it to the next smallest debt. The cycle continues until you are debt-free!
I started doing this last year. It’s amazing how much you can apply to the later debts once the smaller ones are paid off. Getting closer to having my last student loan paid off and it is great!
I love debt snowball! The debt snowball is the only debt payment method that worked for us! We were able to pay off a lot of credit card debts.