Paying Down Debt

Paying down your debt? Tackling debt can seem like an uphill struggle, but there are a couple of popular, proven methods for getting things rolling in the right direction again. So how should you Learn more about the Avalanche choose between them? and Snowball Methods SOUTH STATE BANK The Avalanche Method is paying down the debt with the highest interest rate first, second-highest rate second, etc. - Better for those with many high-interest loans - Lessens the overall time needed to get out of debt Saves money by eliminating - Can require extra discipline, since results come more slowly high-interest debt first The SnowballI Method is paying off your smallest balance first and rolling the extra money into the next-smallest payment, and so on. - Better for those who want fast results, since the first debt paid off is the smallest - Costs are generally higher because you usually end up paying It's not just about the numbers – it's about you, more interest your unique situation and your personal financial goals. - Can make it easier - Often takes longer to stay motivated overall than Avalanche At South State Bank, we know that great banking starts with a conversation. Let's talk through options and formulate a plan, balancing what you can pay (and how long you want to make the payments) to find the debt solution that's right for you. SouthStateBank.com/debt | 1-800-277-2175 Member FDIC