If you have more than one debt, choosing which to pay off first makes a real difference. Both methods below start the same way: keep up the minimum payment on every debt, then put any extra money towards one target.
The snowball method
Pay off the smallest balance first. When it's cleared, roll its payment onto the next smallest. You see debts disappear quickly, which keeps you motivated.
The avalanche method
Pay off the debt with the highest interest rate first. This usually costs you less in interest overall, but the first win can take longer.
Which is better?
On paper, the avalanche saves more money. In practice, the best method is the one you'll stick with. Some people start with a quick snowball win, then switch to avalanche.
If you're struggling
If you can't keep up with minimum payments, get help early. Free, confidential debt advice is available from StepChange, National Debtline and MoneyHelper. Avoid companies that charge fees for help you can get for free.