Debt Snowball vs. Avalanche: Which One is Better?

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Debt Snowball vs. Avalanche: Which One is Better?

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Marriage Kids and Money

Күн бұрын

Пікірлер: 11

@MarriageKidsandMoney 10 ай бұрын

Which do you prefer? Debt snowball or debt avalanche?

@shar1202 2 ай бұрын

I pay off what is my biggest monthly payment. Which is my car. Once I pay my car off.I'll have more money to pay off other debts.

@MarriageKidsandMoney 2 ай бұрын

I like your plan! Recently, I had the chance to interview Jade Warshaw about paying off $460k in debt. She had some excellent advice if you want to check out our interview: kzfaq.info/get/bejne/e6t0apWSmK6tpKs.htmlsi=sOx4pPh-w0ivSTVb

@shar1202 2 ай бұрын

@@MarriageKidsandMoney thanks I would love to listen.

@MarriageKidsandMoney 2 ай бұрын

@@shar1202 I appreciate you checking it out! Thanks!

@Neji1984 5 ай бұрын

Im doing the debt squeeze Paying off the highest and lowest

@jared_does_hardmoney 10 ай бұрын

These questions are interesting because personal finance is an empiracle field - meaning there is always a mathematically correct answer. Paying off your highest interest debts first is the 'best' way mathematically to tackle debt. However, the emotional aspect of turning small wins into bigger wins is SUPER important. I think is a total case by case type of question as it will vary based on someone's financial position and their emotional relationship with money and debt

@MarriageKidsandMoney 10 ай бұрын

Agreed! There's no one right answer ... only your own personal "right" answer.

@MrKlawUK 4 ай бұрын

My counter to that would be - if you have more than one high interest debt (which you do if you’re choosing what order to attack them) - then the ‘technical’ best may be less applicable because if that is your preference, you’d arguably be less likely to be in that position in the first place. There is no ‘right’ answer but I think snowball for people with 3 or more high interest debts is close to a ‘right’ answer