So you have debt. As you probably know, you’re suffering in good company. According to the Federal Reserve, total household debt is at a staggering $13.86 trillion — and has been steadily climbing.

While you might be one of millions mired in debt, how you go about paying off that debt is unique to you. In a perfect world, you’d ideally be able to metaphorically take a bazooka and obliterate your debt in one fell swoop.

The reality? You’re most likely juggling a bunch of different financial commitments — paying rent, putting food on the table, saving for an emergency fund or a down payment on a home — making it harder to focus on crushing your debt.

Realistically, you’d want to tackle your debt in a methodical fashion, focusing on one debt at a time. And while you might have heard of the debt avalanche and debt snowball method, you can also consider what’s known as…

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