A debt avalanche is an accelerated debt repayment plan that prioritizes paying off debt with the highest interest rate, saving you money in total interest paid compared to other methods. You begin by listing all your debts, high to low by interest rate. Next, you make minimum payments on all debts every month. Then you focus all additional money on the highest rate debt. When the debt with the highest interest rate is entirely paid off, you move on to the next highest interest loan. This cycle is repeated until all debts are paid off. If you receive any “windfalls” (tax refunds, bonus, selling stuff, side gig, etc) you can use that on the highest rate debt to accelerate the process.