The widespread adoption of the debt avalanche method could have several societal effects. Firstly, it could lead to a more financially literate society as individuals would need to understand interest rates and their impact on debt repayment. Secondly, it could potentially reduce the overall level of debt in society as individuals would be paying off their highest interest debts first, reducing the total amount paid in the long run. However, it could also lead to increased financial stress in the short term as progress may be slower and less visible, potentially discouraging some individuals.
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