Struggling with debt repayment strategies? Learn the differences between the Debt Snowball and Debt Avalanche methods, compare their pros and cons, and find out which approach best fits your financial goals and personality.
Credit card debt can quickly spiral out of control due to high interest rates, making it crucial to understand how interest accumulates if you don’t pay off your balances promptly. The longer you take to pay off your debt, the more interest you accumulate, making it increasingly difficult to become debt-free. This guide shares practical strategies specifically tailored for Canadians to pay off credit card debt quickly and regain financial freedom.