I like the snowball method because, in addition to giving you "quick wins," it reduces the number of bills you have to pay every month -- which means fewer opportunities to forget to pay it and get charged with a late fee and a credit score ding.
I started getting renter's insurance last year. I haven't had to use it yet, but I'm glad it's there! I got it through my car insurance company and it's only $25 for me and my husband and our giant piles of DVDs and electronics. It also covers you if someone gets hurt in your house, like if your dog bites them.
On Paying Off Your Debt: The Snowball Plan vs. The Avalanche Method
I like the snowball method because, in addition to giving you "quick wins," it reduces the number of bills you have to pay every month -- which means fewer opportunities to forget to pay it and get charged with a late fee and a credit score ding.