Planning
·6 min read·5 May 2026Paying Off Debt: Snowball vs Avalanche (Naira Edition)
Two proven methods to clear credit cards, soft loans, and POS borrowing — which one fits you?
Debt is heavy. A method makes it lighter.
List every debt
Lender, balance, APR, minimum payment. Even the ₦50,000 you borrowed from your cousin.
Snowball method
Pay minimums on everything. Throw extra money at the *smallest* balance. Quick wins, momentum.
Avalanche method
Pay minimums on everything. Throw extra money at the *highest interest* debt. Mathematically optimal.
Which one?
If you need motivation → snowball. If you need maximum savings → avalanche. Both work; consistency matters more than choice.
While paying down
- Stop new borrowing.
- Keep a ₦100k emergency mini-fund so a setback does not push you back into debt.
- Renegotiate APRs where possible.