Let’s have an honest conversation about something most people avoid discussing: debt.
If you’re carrying debt right now, I want you to hear something before we go any further: your debt does not define you.
At Facing Finances, we work with clients every day who feel overwhelmed by what they owe. Credit cards, student loans, medical bills, car notes — the weight of it can feel crushing. But here’s what I’ve seen over and over again: the moment someone writes down their debts, picks a strategy, and takes the first step, something shifts. The shame starts to lift. Confidence starts to build and what once felt impossible starts to feel manageable.
Today, I’m going to walk you through the two most proven debt payoff strategies — the Snowball Method and the Avalanche Method. You get to decide which one is right for you. After reading this article, you will be not only be empowered, but also equipped to take your first step today.
Before You Pick a Strategy: Know Your Numbers
Before we talk methods, we need to talk about something harder: looking at the full picture. You can’t build a payoff plan for something you don’t know.
Grab a piece of paper, open a spreadsheet, or use the notes app on your phone. List every single debt you carry. For each one, write down the following:
Who you owe (the creditor or lender)
The total balance (what you owe today)
The interest rate (the APR)
The minimum monthly payment
This step is uncomfortable. I know. But it’s also the most powerful thing you can do for yourself and your family. When you see your debt on paper, it stops being a vague cloud of anxiety and becomes a concrete problem with a concrete solution. Concrete problems are problems we can solve.
Once you have your list, add up all of your minimum payments. That’s your baseline — the amount you’re already committed to paying each month. Next, look at your spending plan and ask yourself: “where can I find even $25 to $50 more per month to put toward debt?” That extra amount is what powers both strategies below.
The Snowball Method: Quick Wins, Big Momentum
The Snowball Method is simple: pay the minimum on every debt, then throw every extra dollar at the one with the smallest balance first. Once that smallest debt is completely paid off, take everything you were paying on it — the minimum plus the extra — and roll it into the next smallest debt. Repeat this strategy until every debt you carry is paid off.
The magic of the Snowball Method is psychological. Each time a debt disappears from your list, you feel a rush of accomplishment. That feeling builds momentum. The momentum is what keeps people going when the journey feels long.
The Snowball Method is best for you if: you need to see progress quickly to stay motivated, you have several small debts that can be knocked out in a few months, or you’ve tried to pay off debt before but lost steam.
The Avalanche Method: Maximum Savings, Minimum Interest
The Avalanche Method also has you paying the minimum on everything, but instead of targeting the smallest balance, you throw your extra money at the debt with the highest interest rate first. Once that high-interest debt is gone, you move to the next highest rate. Repeat this strategy until every debt you carry is paid off.
This approach is mathematically optimal because it saves you the most money in interest paid over time. If you have a credit card at 24% APR sitting alongside a student loan at 5%, the Avalanche Method ensures you’re not spending money to high interest rates while chipping away at lower-rate debts.
The Avalanche Method is best for you if: you are motivated by logic and long-term savings, you have high-interest debt like credit cards that are costing you significantly each month, or you are disciplined enough to stay the course even if the first payoff takes a while.
So Which One Should You Choose?
Here’s what I tell my clients: both methods work. The best one is the one you will actually stick with.
If you know yourself well enough to know that you need quick wins to stay motivated, start with the Snowball. Knock out that $200 medical bill or that $500 store credit card first. Let the momentum carry you.
If you’re the type of person who looks at a spreadsheet and thinks, “I refuse to pay one more dollar in unnecessary interest,” the Avalanche is your strategy.
Here’s a secret: you don’t have to be purist about it. Some of my clients start with the Snowball to build confidence by knocking out a couple of small debts, then switch to the Avalanche once they have momentum. The strategies aren’t rigid — they are frameworks. Use them in the way that serves your life and goals.
What the Bible Says About Debt
At Facing Finances, our approach to money is rooted in faith. Scripture has a lot to say about debt — not to condemn, but to guide.
Proverbs 22:7 tells us, “The rich rules over the poor, and the borrower is servant to the lender.” This isn’t meant to shame anyone who carries debt. It’s a statement of reality: when we owe, our options are limited. Our income serves someone else’s balance sheet before it serves our own families. Paying off debt is an act of reclaiming your freedom and your future.
Romans 13:8 encourages us to “owe no one anything, except to love each other.” Again, this isn’t condemnation — it’s a vision. Imagine what your life looks like when the only thing you “owe” is love. That’s the destination. A debt payoff strategy is the road that gets you there.
Proverbs 21:5 reminds us: “The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.” Paying off debt is an exercise in diligence. It can be slow and it requires patience. That patience is an act of faith — trusting that consistent, intentional steps will lead to the abundance God promises to those who steward wisely.
If you are carrying the weight of debt today, know this: God’s focus is not on your balances. His focus is your heart. The fact that you’re reading this article, shows that you are looking for a way forward. You do your piece and God will show up and do His.
Your Next Steps
You don’t have to figure this out alone. Your mission is to start and starting is easier than you think.
Step 1: Write down every debt you have (balance, interest rate, minimum payment). Put it on one page. That is your starting point.
Step 2: Select your method. Snowball for motivation. Avalanche for math. Either one moves you forward. Moving forward is all that matters.
If you want personalized guidance — someone to help you build your spending plan, choose your strategy, and walk alongside you on the journey — that’s exactly what we do at Facing Finances. We offer one-on-one coaching, group workshops, and corporate financial wellness programs designed to meet you exactly where you are.
Debt doesn’t define your story. Your plan does. Your story is just getting started.
Ready to face your finances?
Book a consultation at www.FacingFinances.com or email us at info@facingfinances.com
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