According to a study by Annuity, the average American carried multiple credit cards, with the average debt load being $5,525.
Rathner laid out the steps of the debt avalanche method:Make minimum payments on all of your debts to avoid late fees and keep accounts in good standingWhen the highest interest rate debt is paid off, take
the monthly amount you were paying on it and apply it to the next highest interest rate card, while continuing to pay the minimum on all the others and then repeat this method until all of the debt is paid off.
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