Whichever strategy suits you, as long as you commit to it, you will be fine. As long as you follow the first principle of paying yourself first, this second principle, of using your surplus amounts to pay off debt, will keep going on its own. Depending on how many people you owe, the task may look daunting at first, but you will find that with time, the process feeds on itself, because with each loan you knock off, the payments you have to make decrease, and there is that much more surplus for you to pay away the remaining debts with.
