Debt Snowball vs The Debt Avalanche
Money is 10% behavior and 90% fifth grade math. I want you to keep that in mind throughout today’s episode where we dissect the two main methods of paying down debt as quickly as possible: The Debt Avalanche and the Debt Snowball method.
The good news is they both get the job done because in the end if you stick to the formula, your debt will be gone!
However, I still only recommend one method over the other, and I will explain why in this week’s episode. The old saying goes, “There is more than one way to skin cat”.
That may be true, but in my opinion (and I am an expert in my opinion), there is one method that is so much better than the other, and is the only method I recommend. Knowledge is power, which is why I am showing you both, but at the end of the episode you will see there is a clear cut winner.
The first step to solving your problems with money is to take back control of your money. This always starts with the Budget.
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Mentioned in this Episode