🏷️ À propos: Monnelia is your companion in achieving financial freedom and conquering debt. The primary objective of the app is to help you save both time and money as you work towards repaying your debts.
• The avalanche method: prioritize debts with the highest interest rates first, strategically minimizing overall interest payments and accelerating your path to debt freedom, most of the time this method is the most cost effective.
It consists of prioritizing the repayment of debts that generate the most interest, calculated on the basis of the remaining balance and the current interest rate on the debt.
• The snowball method: begin by tackling your smallest debts first, gradually building momentum as you move towards larger debts, this method keeps you motivated.
• Monnelia helps you save on interest, the application gives you the right strategy for your situation and makes significant interest savings.
• Compare the different debt repayment strategies (snowball, avalanche, tsunami or custom) and find out which one is best for your situation.
