Debt Laddering

One of the most popular ways to pay off debt is to use a method called debt laddering. With this method, you aggressively pay off your debt one account at a time, starting with the account with the highest interest rate. While you put as much money as possible to the one account, other accounts receive only the minimum payment due. Once the account is paid off, move down the "ladder" to aggressively pay off the next account with the highest interest rate and so on until they are all eventually paid off.