Debt can be overwhelming, especially when interest rates are high. Fortunately, there are several strategies designed to help manage and eliminate debt more effectively. One popular method involves prioritizing debts with the highest interest rates, which helps you save the most money in the long run.

By focusing on high-interest debt, you reduce the overall amount of interest you’ll pay over time, freeing up more of your budget for savings and other financial goals. While it can take time to see the results of this strategy, the long-term benefits are significant, especially for those struggling with multiple debts.

But do you know which method is specifically designed to tackle high-interest debt first? Let’s see if you can identify the most efficient debt-reduction strategy!