What are the potential societal effects of widespread adoption of the debt avalanche method for debt repayment?

Some alternative strategies to the debt avalanche method for managing debts include the debt snowball method and a customizable method. The debt snowball method involves paying off debts with the smallest balances first while making minimum payments on larger debts. This method can provide a psychological boost as you see debts being eliminated more quickly. A customizable method allows you to tailor your debt repayment strategy to your specific circumstances and preferences, which may involve a combination of the avalanche and snowball methods or other strategies.

The debt avalanche method, in theory, could be applied to large global companies like Apple or Google, but it's important to note that these companies operate on a much larger scale with more complex financial structures. They would prioritize their debts based on the interest rate, paying off the debt with the highest interest rate first while making minimum payments on their other debts. However, these companies often have various strategies and resources to manage their debts, including negotiating with creditors, refinancing, or issuing new securities.