Podcasts about debt avalanche

About the Episode:  Struggling with debt? In this episode of Monday Money Tip, we're sharing the best shortcuts to becoming debt-free faster!

Are you tired of feeling like a slave to your debt, weighed down by shame and stress every time a bill arrives?   In this episode, we dive into the biblical view of debt, its impact on your mental health, and practical steps to break free from the cycle for good.  

In this episode, Hazel explores effective strategies for managing and eliminating debt, focusing on two popular methods: the Debt Snowball and Debt Avalanche techniques. The Debt Avalanche method prioritises paying off debts with the highest interest rates first, ultimately saving money on interest payments and reducing the time needed to become debt-free. KEY TAKEAWAYS Debt Repayment Strategies: There are two primary methods for managing debt: the Debt Avalanche method, which focuses on paying off the highest interest debt first, and the Debt Snowball method, which targets the smallest debt first. Each method has its own advantages and disadvantages. Importance of Minimum Payments: Regardless of the chosen method, it's crucial to make minimum payments on all debts except for the one being targeted. Setting up automatic payments can help ensure that these minimums are met consistently. Pros and Cons of Each Method: The Debt Avalanche method can save money on interest and reduce the time to become debt-free, but it requires discipline and commitment. In contrast, the Debt Snowball method can provide quick wins and motivation by eliminating smaller debts first, though it may result in paying more interest over time. Debt Consolidation Option: Consolidating debts can be a beneficial strategy, especially if one has equity in their home. By refinancing at a lower interest rate, individuals can potentially reduce their overall interest payments and simplify their debt management. BEST MOMENTS"The Debt Avalanche method means you pay off the highest interest debt first, while the Debt Snowball method has you pay off the smallest debt first." "Using the Debt Avalanche method will save you the most in interest payments as you go along." "The snowball method can give you that motivation to settle your debts faster and see accounts closed down much quicker." VALUABLE RESOURCES Click here to download your FREE gift, our Financial Freedom Spreadsheet, to help you get a 'snap shot' of your finances... https://www.the-freedom-club.com/financial-freedom-spreadsheet-landing-page ABOUT THE HOST Having started her career as a professional, classical musician, Hazel de Kloe also had a personal quest to become financially free. She and her husband built a successful, multi-million-pound property business, next to their own careers, but soon realised that true freedom doesn’t JUST come from being financially independent… Having meant so much to her family, it has been her passion ever since, to inspire, educate and empower others on their journeys towards this 'Holy Grail'. During one particular property mentoring session back in 2009, she had a powerful recognition of exactly how to facilitate this. Nicknamed now, The Wealth Whisperer, she has a unique way of getting to the crux of what is needed to help fulfil this quest. CONTACT METHODS WebsiteInstagram

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2989: Kalen Bruce explores two powerful strategies for paying off debt - the debt snowball and the debt avalanche. By comparing their benefits and drawbacks, this article empowers you to choose the method that aligns with your financial goals and motivation style, whether you crave small wins or want to minimize interest payments. Read along with the original article(s) here: https://moneyminiblog.com/debt-relief/pay-off-debt-snowball-vs-avalanche Quotes to ponder: "If you become debt free, you win. It doesn't matter which method you used once you are debt free." "Personal finance is less about the math and more about behavior, habits, and mindset." "Sometimes the right method may not make the most sense on paper, but if it works, you still win!" Episode references: Dave Ramsey's The Total Money Makeover: https://www.amazon.com/Total-Money-Makeover-Dave-Ramsey/dp/1595555277 Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2989: Kalen Bruce explores two powerful strategies for paying off debt - the debt snowball and the debt avalanche. By comparing their benefits and drawbacks, this article empowers you to choose the method that aligns with your financial goals and motivation style, whether you crave small wins or want to minimize interest payments. Read along with the original article(s) here: https://moneyminiblog.com/debt-relief/pay-off-debt-snowball-vs-avalanche Quotes to ponder: "If you become debt free, you win. It doesn't matter which method you used once you are debt free." "Personal finance is less about the math and more about behavior, habits, and mindset." "Sometimes the right method may not make the most sense on paper, but if it works, you still win!" Episode references: Dave Ramsey's The Total Money Makeover: https://www.amazon.com/Total-Money-Makeover-Dave-Ramsey/dp/1595555277 Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2989: Kalen Bruce explores two powerful strategies for paying off debt - the debt snowball and the debt avalanche. By comparing their benefits and drawbacks, this article empowers you to choose the method that aligns with your financial goals and motivation style, whether you crave small wins or want to minimize interest payments. Read along with the original article(s) here: https://moneyminiblog.com/debt-relief/pay-off-debt-snowball-vs-avalanche Quotes to ponder: "If you become debt free, you win. It doesn't matter which method you used once you are debt free." "Personal finance is less about the math and more about behavior, habits, and mindset." "Sometimes the right method may not make the most sense on paper, but if it works, you still win!" Episode references: Dave Ramsey's The Total Money Makeover: https://www.amazon.com/Total-Money-Makeover-Dave-Ramsey/dp/1595555277 Learn more about your ad choices. Visit megaphone.fm/adchoices

Are you looking to start fresh financially this new year? Join the hosts of Making Cents of Money as they kick off 2025 with a special episode – New Year, New Financial Resolutions. Show Notes: • National Endowment for Financial Education (NEFE) – Emergency Fund Tips https://www.nefe.org/what-we-provide/consumer-financial-literacy-resources/emergency-fund • Consumer Financial Protection Bureau (CFPB) – Paying Off Debt https://www.consumerfinance.gov/ask-cfpb/what-is-the-debt-snowball-method-en-1916/ • Charles Schwab, New Years Financial Resolutions: https://www.schwab.com/learn/story/new-years-financial-resolutions-get-your-finances-in-shape • CNBC: Financial New Years Resolutions: https://www.cnbc.com/select/financial-new-years-resolutions/ • Motley Fool Money: https://www.fool.com/money/research/financial-new-years-resolutions/ • Consumer Financial Protection Bureau: An essential guide to building an emergency fund: https://www.consumerfinance.gov/an-essential-guide-to-building-an-emergency-fund/ • PowerPlay: https://extension.usu.edu/powerpay/ • Making Cents of Money episodes about establishing credit: https://soundcloud.com/idfpr/sets/establishing-managing-credit • Episode 80: Building Wealth After Graduation: https://soundcloud.com/idfpr/episode-80-building-wealth-after-graduation • Episode 55: Making Cents of Money: Wealth Building as a Balancing Act: https://soundcloud.com/idfpr/episode-55-wealth-building-as-a-balancing-act?utm_source=clipboard&utm_campaign=wtshare&utm_medium=widget&utm_content=https%253A%252F%252Fsoundcloud.com%252Fidfpr%252Fepisode-55-wealth-building-as-a-balancing-act • Episode 49: Making Cents of Money: Dealing with Emergencies: https://soundcloud.com/idfpr/episode-49-dealing-with-emergencies?utm_source=clipboard&utm_campaign=wtshare&utm_medium=widget&utm_content=https%253A%252F%252Fsoundcloud.com%252Fidfpr%252Fepisode-49-dealing-with-emergencies • Budget Hacks webinar: https://www.youtube.com/watch?feature=shared&v=X2p09ddcB4Q • Experian: Debt Snowball vs. Debt Avalanche: https://www.experian.com/blogs/ask-experian/avalanche-vs-snowball-which-repayment-strategy-is-best/#:~:text=For%20the%20most%20part%2C%20the,money%20in%20interest%20over%20time.

Snag Our Signature Budget Template! Do you find yourself juggling multiple debts and wondering which one to tackle first?

Hey Mom! Do you have multiple sources of debt you are working to pay off? Do you feel overwhelmed with figuring out the right strategy to use? Do your debt balances feel like they aren't getting any lower? Don't stress; I'm here to help you! In this episode I break down the definitions of both the debt snowball payoff method and the debt avalanche method. I also list out the pros and cons of each, and I even help you determine which is the best way for YOUR family to get out of debt once and for all.  If you are working to eliminate debt, this episode is a must listen.  Also, here is a FREE Debt Reduction Calculator as mentioned in the episode. Let's go! Blessings to your family, Mandy P.S. -> Join our awesome FREE Facebook community! https://www.facebook.com/groups/frugallivingforfamilies -> Become a Frugal Living for Families Insider! Sign up at: subscribepage.io/FrugalLivingforFamiliesPodcast for more tips on saving money, getting out of debt, becoming a stay-at-home mom, living on a single income, first access to my offerings and more! -> For my latest coaching options, email me at FrugalLivingforFamilies@gmail.com. Thank you for helping this show rank in the top 5% globally! I appreciate you so much!

So you've got a lot of debt. A lot. But you're ready to do something about it. You know that you can never pay off that debt all at once—So what's next? The Debt Snowball and the Debt Avalanche are two of the most misunderstood concepts in personal finance, but they're also two of the most important ones. In this episode, I'lll explain exactly what those terms mean, why they matter, and how to use them to get your finances back on track! Resources Mentioned in this Podcast: Contact Dave for a free 30mins strategy sessio

Money Hack of the Week: Automate savings and investments Did you know most millionaires automate savings and investments? Did you know you can set up multiple direct deposit accounts with your employer to “force savings” for yourself? You can also have multiple savings accounts with companies like ally bank and set up automatic transfers on a weekly/monthly basis  Main Topic Getting out of debt!   1st - need to analyze how we got here in the 1st place Can you increase your income?   Look for opportunities to grow inside your organization - or if you're a business owner, are there additional products/services you can offer to increase your cash flow?  Monthly budget is key - need to free up $$ to be able to live below your means. Consider a side gig - temporarily to help you get out of debt Drive for uber, make arts and crafts, shop for instacart, do doordash.  Do something that will generate a little extra money if you're unable to come up with extra money within your monthly budget. Other things to note: Debt consolidation (personal loan to decrease credit card debt) Credit card transfers 2 main concepts to getting out of debt: Debt snowball, debt avalanche Here's how the Debt Snowball works: 1.    List Your Debts: Begin by making a comprehensive list of all your debts, including credit cards, personal loans, student loans, and any other outstanding balances. Arrange them from the smallest balance to the largest. 2.    Minimum Payments: Continue making minimum payments on all your debts to avoid penalties and late fees. 3.    Focus on the Smallest Debt: Allocate any extra money or funds you can towards the smallest debt on your list while maintaining minimum payments on the others. 4.    Pay Off Smallest Debt: Once you've paid off the smallest debt, celebrate this accomplishment! The key to the Debt Snowball method is the psychological boost you get from achieving these small victories. 5.    Roll Over Payments: Now that the smallest debt is paid off, take the money you were using to pay it off and add it to the minimum payment of the next smallest debt on your list. 6.    Repeat and Build Momentum: Continue this process, "snowballing" your payments from one debt to the next as each one is paid off. As you progress, your ability to pay off larger debts increases, creating a momentum that keeps you motivated throughout the debt repayment journey. The Debt Snowball method emphasizes the importance of behavior and motivation in paying off debt. While it may not be the most mathematically optimal strategy in terms of interest savings (compared to the Debt Avalanche method), its psychological benefits can be highly effective in helping individuals stay committed and focused on their debt repayment goals. Here's how the Debt Avalanche works: 1.    List Your Debts: Start by making a list of all your debts, including credit cards, personal loans, student loans, and any other outstanding balances. Arrange them from the highest interest rate to the lowest. 2.    Minimum Payments: As with any debt repayment plan, continue making minimum payments on all your debts to avoid penalties and late fees. 3.    Focus on the Highest Interest Debt: Allocate any extra money or funds you can towards the debt with the highest interest rate while maintaining minimum payments on the others. 4.    Pay Off Highest Interest Debt: Once you've paid off the debt with the highest interest rate, take the money you were using to pay it off and add it to the minimum payment of the next debt on your list with the next highest interest rate. 5.    Repeat and Save on Interest: Continue this process, "avalanching" your payments from one debt to the next based on their interest rates. By targeting the high-interest debts first, you reduce the overall amount of interest you'll pay over time. -PLEASE WRITE US AT QUESTIONS@DOLLARSANDHOPS.COM 

Today our focus is on debt mastery. The way you think about and handle debt has a massive impact on your bottom line. My goal is to help you transform your perspective and take back your power when it comes to debt. I have an unique approach to debt that empowers and equips you to get rid of it if you want to. I'll share that approach with you on this episode.We'll also dive into some effective debt strategies like the Debt Snowball, Debt Avalanche, and introducing...the Annoying Debt First method. We'll break them down and help you figure out which one suits you best. Tune in for some practical insights and inspiration.Next Steps:✔️ Click Here to learn more about The Wealthy Woman's Academy ✔️Click Here to subscribe to The Wealthy Wednesdays Weekly Newsletter. ✔️ Interested in private coaching? Click Here to schedule a consultation.✔️ Join The Facebook Group:https://www.facebook.com/groups/herlifeandmoney✔️ Visit the Website:https://www.germainefoley.com✔️ Follow Germaine on Instagram:https://www.instagram.com/germainefoleycoaching/

Step right up and prepare to be blown away by an electrifying journey through the exhilarating world of wealth creation! The Epic Real Estate Investing Podcast is here, dishing out red-hot strategies and explosive insights that'll have you gripping the edge of your seat, hungry for more! In this adrenaline-fueled episode, we're cracking the code to liberate you from the suffocating grip of debt! Brace yourself as we plunge into the epic clash of debt demolition titans: Debt Avalanche, Debt Snowball, and Debt Delegator! Who will emerge victorious as the undisputed King Destroyer of Debt? You'll have to tune in to find out! But wait, there's more! We're also serving up the ultimate face-off on how to unearth good real estate leads! Uncover the astonishing technique that skyrockets your lead generation success by a jaw-dropping 92%—and it all boils down to THIS ONE SIMPLE TRICK! Prepare to unlock the hidden treasures of real estate mastery and rocket your investing career into the stratosphere! And, as the cherry on top, we're treating you to our tantalizing Deal of the Week, a heartwarming spoonful of Good News, and the freshest, most buzzworthy scoop in Cryptocurrency! This action-packed episode is brimming with value bombs designed to ignite your passion and propel you to victory in the thrilling quest for financial freedom! So, what are you waiting for? Don't miss this opportunity to supercharge your wealth-building journey! Hit that play button and let the battle for financial freedom begin! P.S. Whenever you're ready... here are 3 ways I can help you become the healthy, wealthy, beast of an investor God designed you to be: 1.    Become an Epic community member at “Epic Real Estate Investing.” One of Mercedes' and my favorite things to do is share with investors real estate trends, interesting guests, and housing market news. We do it every week, and you can listen in by subscribing to Epic Real Estate Investing on Apple Podcasts - Click Here. Or WATCH HERE on YouTube. 2. Become an Epic partner (I'll pay you) If you want to go deeper and further as a real estate investor, looking into my partner program to help you get your first deal might be the move... take the first step here for free. 3. Work with me One-on-One If you'd like to work directly with me on your business... meet me here, answer some short questions, and we'll hop on the phone to brainstorm some cool ideas for you and your market. Also...check these out :) FreeEntity.com (Need an LLC? Get one for almost FREE) DealEngineer (Most powerful data for finding motivated sellers) TrueProfit.net (Less stress and greater profits for your real estate business) Learn more about your ad choices. Visit megaphone.fm/adchoices

Queer Money Tips and how to manage your finances in bad economic times. John and David share their story about how they got into debt, why it is so alluring, and what they did to get out of debt. This is a problem shared by most people in the US. It is hard to avoid debt as it is so pervasive and seductive. Yet if you want to be financially free and lift the psychological burden that keeps you from your own financial freedom, you need to know how to be smart with debt. John and David talk about the 5 Steps to Being Debt Free, The Lasso Method, The Debt Avalanche, Debt Snowball, and many more strategies to eliminate debt in your life.  Today's Panelists: Kirk Chisholm | Innovative Wealth Barbara Friedberg | Barbara Friedberg Personal Finance Megan Gorman | The Wealth Intersection Douglas Heagren | Pro College Planners   Follow on Facebook: https://www.facebook.com/moneytreepodcast Follow LinkedIn: https://www.linkedin.com/showcase/money-tree-investing-podcast Follow on Twitter: https://twitter.com/MTIPodcast  

Are you able to leave the office for a week on vacation and leave your work behind? What do you need to do prior to leaving, to make sure that your vacation is a vacation, and not just working remote from some other place?  This past week, Shawn & his family took a trip to Arizona. They were gone for a week, but Shawn left behind his iPad and laptop (he did bring  his phone, but he needed a phone, GPS, camera, etc.).  In this week's episode Shawn & George discuss what Shawn did prior to leaving, so that Shawn could "unplug" for a week! You may also want to listen to Episode 307, Twenty-One Ways to Crush Your Vacation Debt (which Shawn also did prior to leaving), but this episode is more about unplugging than it is reducing debt: https://yesnerlawpodcast.libsyn.com/21-ways-to-crush-your-vacation-debt-episode-307  Some things to think about that we discuss in this week's episode: How long will you be gone? What bills need to be paid in advance? If you're the one with authority over the bank account, how do you handle unforseen expenses that might pop up? Should you bring anything for work purposes (my vote is no)? Setting auto-responders for emails and phones. How the office can reach you in the event of a real emergency? Let us know if you enjoy this episode and, if so, please share it with your friends! Please also visit our sponsors: Sam Cohen of Attorneys First Insurance for Attorneys and Title Companies looking to get a quote on Errors & Ommissions (malpractice) Insurance coverage. www.AttorneysFirst.com.  Mark Purvis to help retirees who are looking for a fun and rewarding project  by capturing wisdom and stories that will bless their families today and for generations to come. www.LegacySpotlight.com.  Or, you can support the show by visiting our Patreon page: https://www.patreon.com/crushingDebt  To contact George Curbelo, you can email him at GCFinancialCoach21@gmail.com, or follow his Tiktok channel - https://www.tiktok.com/@curbelofinancialcoach  To contact Shawn Yesner, you can email him at Shawn@Yesnerlaw.com or visit www.YesnerLaw.com. 

Episode 26 | Debt Snowball vs. Debt Avalanche | Que Malone Follow Que Malone Socials: www.instagram.com/ayuypodcast www.instagram.com/quemalone1x www.tiktok.com/quemalone1x www.twitter.com/quemalone1x --- Support this podcast: https://podcasters.spotify.com/pod/show/areyouuncomfortableyet/support

Start your debt snowball: https://www.ramseysolutions.com/debt/debt-calculator 

In this episode Katelyn and I discuss figuring your debt to income ratio (see calculators below) and two ways to pay off debt. The first is the Debt Snowball (created by Dave Ramsey) and the second is the Debt Avalanche. I believe the most reliable way to eliminate debt is to avoid spending beyond your means, and paying your bills in full and on time each month. Discipline is exchanging short term pleasure for long term respect. Good Luck getting debt free!! https://www.bankrate.com/mortgages/ratio-debt-calculator/ https://www.nerdwallet.com/article/loans/personal-loans/calculate-debt-income-ratio --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Wondering where to put the rest of your money after you've paid all your bills? Should you use it to pay off more debt, or should you put it towards something else? Listen in today's episode, as Ashley discusses debt strategies with Christina, including what to do with her leftover money after paying all of her bills, how to allocate those funds, and what her options are for paying off her debt. Hosting Today: I'm Ashley Patrick, ex detective turned debt-free CEO of my very own business and stay at home mom of three. Not too long ago, my dreams of staying at home with my kids seemed impossible. I thought I'd have to stay miserable in a high stress demanding job, just so I could retire someday. After gaining the confidence in my own ability to manage my family's finances and a simple step-by-step plan to make it happen, I was able to pay off $45,000 in just 17 months, which then allowed me to finally quit my job, stay at home with my kids, and build a debt-free business. Now, my mission is to help moms like you conquer debt and free themselves from the mental load of handling their family's finances. “Well, it's overwhelming. And then you're like, I don't know what to do because I'm overwhelmed. And so when you just take it one step at a time, so just focus on the one debt you wanna pay off first, I find running the numbers motivating, especially if you have a good chunk each month that you could send to it and you see that number, you're like, oh, I can do that. It'll help get you going. It'll give you that momentum to get started.” - Ashley Patrick Timestamps: 00:00 - How to sign up for your Budget Strategy Session 00:38 - Introduction to today's episode 01:16 - Meet Christina 04:02 - Christina's financial struggle 06:23 - What to do with the money that is left over after paying bills 08:38 - Emergency and Sinking funds 09:44 - Having a buffer amount 11:13 - Deciding on your biggest financial goal 13:37 - Which debt to pay off first 17:01 - Focusing on one debt at a time 19:07 - Christina's 24 hour action step 19:34 - Impact, Debt Snowball, and Debt Avalanche method 23:07 - Planning your left over money where you want it to go If you'd like to work through your own struggle with your budget 1:1 with me, sign up for a FREE Budget Strategy Session on The Money Mindset Podcast! Sign up at www.budgetsmadeeasy.com/strategy And if you enjoyed the podcast today and got some great takeaways, I'd really appreciate it if you followed the Money Mindset Podcast so you don't miss out on future episodes Resources and Links Mentioned: * Book your Budget Strategy Session here-> www.budgetsmadeeasy.com/strategy Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy

Today's episode is focused on the difference between the debt snowball strategy and the debt avalanche strategy. Then I discuss should indivduals pay off their student loans and/or a mortgage early?

What would you do if you could make more money, have more time, and have more fun? What would your life look like? This past week, Shawn was a speaker at the More Money, Time & Fun online Summit, hosted by our friend and frequent guest, Tiffanie Kellog. In today's episode, Shawn and George talk about how to have more money by having less debt. This topic mirrors Shawn's second book, Become Debt Free in One Hour or Less. Specifically, getting educated around: (1) how to make money and what to do with it, (2) how to budget, and (3) understanding your Credit Score. Then increase your income. Next, decrease expenses. Finally, eliminate debt! Let us know if you enjoy this episode and, if so, please share it with your friends! Please also visit our sponsors: Sam Cohen of Attorneys First Insurance for Attorneys and Title Companies looking to get a quote on Errors & Ommissions (malpractice) Insurance coverage. www.AttorneysFirst.com. Mark Purvis to help retirees who are looking for a fun and rewarding project  by capturing wisdom and stories that will bless their families today and for generations to come. www.LegacySpotlight.com.  Or, you can support the show by visiting our new Patreon page: https://www.patreon.com/crushingDebt  To contact George Curbelo, you can email him at GCFinancialCoach21@gmail.com, or follow his Tiktok channel - https://www.tiktok.com/@curbelofinancialcoach  To contact Shawn Yesner, you can email him at Shawn@Yesnerlaw.com or visit www.YesnerLaw.com. 

A conversation with multidisciplinary designer Amy D Lux about how she got on track to become financially independent.   Topics: ⭐️ Index funds ⭐️ Credit scores ⭐️ Compound interest ⭐️ Late bloomers can retire early ⭐️ Tools for budgeting and investing ⭐️ Using a Debt Avalanche to pay off debt ⭐️ FIRE - Financial Independence, Retire Early ⭐️ Loan rehabilitation - how to get your student loans out of default   If you think you're too old to turn your financial life around, skip to minute 59. Amy gives a realistic timeline on how long it takes to get retirement on track.   Amy's Financial Resources: https://utopiadreamscape.com/category/wellness/finance/   Lighting LoboLuxDesign.com IG/FB/TW @LoboLuxDesign LinkedIn Amy D Lux   Lifestyle UtopiaDreamscape.com IG/FB @UtopiaDreamscape   Retirement Contribution Limits 2023: https://www.irs.gov/newsroom/401k-limit-increases-to-22500-for-2023-ira-limit-rises-to-6500   Women In Lighting: https://womeninlighting.com/site/page/about   Alphonse Mucha: https://www.alfonsmucha.org/the-complete-works.html   Iran Death Toll: https://www.bbc.com/news/world-middle-east-63242100   Compound Interest with Paddy Hirsch: https://www.artisticfinance.com/episode/DuW0LZ00yYMPsqiwFKyH/Compound-Interest-with-Paddy-Hirsch   Lap Chi Chu - Lighting Designer - SIMPLE retirement plan: https://www.artisticfinance.com/episode/a28i0vVANKirBQ1nR324/Lap-Chi-Chu-Lighting-Designer   Rich Dad, Poor Dad - Audiobook: https://www.youtube.com/watch?v=gliZHyovI7c   Afford Anything - Podcast: https://podcasts.apple.com/us/podcast/afford-anything/id1079598542   Acorns - “Round Up” Investing: https://www.acorns.com/   Mint.com: https://mint.intuit.com/   Index Fund Investing: https://investor.vanguard.com/investment-products/index-funds   VTSAX - Vanguard Index Fund: https://finance.yahoo.com/quote/VTSAX/   Debt Avalanche - How Amy Paid Off Her Debt: https://www.nerdwallet.com/article/finance/what-is-a-debt-avalanche   Paying More For Utilities Because of Low Credit Score: https://blog.risecredit.com/can-bad-credit-score-affect-utility-bills/#:~:text=Can%20a%20Poor%20Credit%20Score,your%20service%20up%20and%20running.   Student Loan Default: https://studentaid.gov/manage-loans/default/get-out   Money Mustache - Saving Chart:  https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/   AYRTON: https://www.ayrton.eu/   LDI: https://www.ldishow.com/   Book List: Your Money or Your Life 4 Hour Work Week The Simple Path To Wealth The Millionaire Next Door Early Retirement Extreme Playing With Fire Set For Life Quit Like A Millionaire Retire Early With Real Estate The Bogleheads Guide To Investing Financial Freedom Rich Dad Poor Dad   Become a patron at: www.patreon.com/artisticfinance   Interview by Ethan Steimel

Bob Moriarty, Michael Oliver and Chen Lin return. Virtually every time the Fed has started raising rates they continue to raise rates until something breaks. While a portion of the air is left out of the credit bubble that the Fed pops, they never go all the way in letting all the excess air out of those past mal-invested bubbles. Instead, they pile one bubble on top of another such that, over the past 60 years since gold was removed from the dollar, the Fed has created the greatest bubble ever! So when this current bubble is broken it is possible that the financial system will be reset with a new global financial system. That's because we know from experience that in a globally connected world financial distress in one market in a corner of the world can't necessarily be kept from spreading. Global markets have been so distorted by the Fed and other central banks that have manipulated interest rates way below their free-market levels that even the smallest interest rate snowflake rise can be the next one to set the entire dollar-based financial system into a destructive avalanche. Bob will provide his insights into current events that may be set to break the system and we will seek his advice regarding how he believes we should prepare. Michael recently wrote that “This was not a controlled adjustment in rates. This is a collapse situation.” We will ask him why he thinks a total collapse of the bond market is a foregone conclusion. Chen who has just returned from travels in Kazakhstan, Turkey and Finland will tell us where he is investing his money during these troubled times.

Bob Moriarty, Michael Oliver and Chen Lin return. Virtually every time the Fed has started raising rates they continue to raise rates until something breaks. While a portion of the air is left out of the credit bubble that the Fed pops, they never go all the way in letting all the excess air out of those past mal-invested bubbles. Instead, they pile one bubble on top of another such that, over the past 60 years since gold was removed from the dollar, the Fed has created the greatest bubble ever! So when this current bubble is broken it is possible that the financial system will be reset with a new global financial system. That's because we know from experience that in a globally connected world financial distress in one market in a corner of the world can't necessarily be kept from spreading. Global markets have been so distorted by the Fed and other central banks that have manipulated interest rates way below their free-market levels that even the smallest interest rate snowflake rise can be the next one to set the entire dollar-based financial system into a destructive avalanche. Bob will provide his insights into current events that may be set to break the system and we will seek his advice regarding how he believes we should prepare. Michael recently wrote that “This was not a controlled adjustment in rates. This is a collapse situation.” We will ask him why he thinks a total collapse of the bond market is a foregone conclusion. Chen who has just returned from travels in Kazakhstan, Turkey and Finland will tell us where he is investing his money during these troubled times.

There has been a long lasting debate about which Debt Payoff you should you, Avalanche or Snowball. Tune-in to figure out how they both work and which one you should use.

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 2 of 2. Episode 1966: [Part 2] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 2 of 2. Episode 1966: [Part 2] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 2 of 2. Episode 1966: [Part 2] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 1 of 2. Episode 1965: [Part 1] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 1 of 2. Episode 1965: [Part 1] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 1 of 2. Episode 1965: [Part 1] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family's beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family's journey to acquire the one thing money can't buy: a simpler — and happier — life.  The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown   Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Money Minute is a quick money hack delivered to your phone once a week to help you think about better ways to manage your finances. Todays episode is about paying off your debts and the difference between the snowball and avalanche methodIf you have a great money hack you use yourself and want to share please send it into the show and I will share it on an upcoming episodeLinks and ways to contact us

Don't get sucked into some of these personal finance arguments! I'm so over these!1. Dave Ramsey - you either love him or despise him2. The Latte Factor - Can you drink coffee or not?3. Debt Snowball or Debt Avalanche - either way, you're getting out of debt! 4. Being a stay at home mom or working momFind me on YouTube!

Tackling your debt can feel like an impossible task, but you can do it with the Debt Snowball Method. The Debt Snowball Method is a proven way to get out of debt. It has helped millions of people pay off their debts faster and easier than they ever thought was possible. It works by breaking down your debt into smaller, more manageable chunks. In this episode, I'll share exactly how it works and why this could be a good strategy for you to use. My free debt payoff planner lets you see when each of your debts will be paid off using the Debt Snowball and Debt Avalanche methods. In addition to seeing your projected payoff date, you'll also be able to track payments and compare the total interest accrued with each method. ----- Connect with Jazzy on Instagram, TikTok, and YouTube. Visit our website for freebies, resources, and more. Want to learn how to create and sell a profitable digital product? Check out this FREE TRAINING.

S A U N A I E Presents D E B T DON'T LiVE HERE ANYMORE Quotes: Wake Up With Determination & Go to Sleep with Satisfaction. 2nd: Regret is the thing we should fear most. Failure is an Answer. Rejection is an Answer. Regret is an Eternal Question you will never have the answer to. S E G M E N T S: DEBT DON'T LiVE HERE ANYMORE & 8 Tips - Americans are BURiED in Debt from Mortgages, Credit Cards, Personal Loans, Bills, and Student Loans, and the amount owed in total is on the rise. - In 2020, Experian reported that the average American owes approximately $92,727 in Total Debt—that's highest amount on record in the U.S. - Members of Generation X owes about $140,643, followed by Baby Boomers ($97,290) and Millennials ($87,448). Financial experts often recommend two ways to tackle debt. - The "Avalanche" method and the "Snowball" method. - An Avalanche approach means you Pay Off your Loans or Credit Cards with the Highest interest Rates First. You throw as much money as you can at them, and pay only the minimum on all your other loans. - The Snowball approach has you Tackle the Lowest Amount of Debt First, Pay it Off, and then Tackle the Next Loan. 2ND SEGMENT: Tips On Eliminating Debt 1. F A C E F A C T S - If you've been trying to make bills vanish by throwing them away unopened, then the 1st step is Accountability. You knew what you signed up for, this isn't your 1st rodeo or maybe it is but avoiding your bills won't make them go away. - Clear off your Desk or kitchen table and get out all your Loan Statements, Bills, & Budget—basically everything you can think of that relates to your Finances. Start Adding. 2. R E P A Y M E N T - Not all Debts are Created Equal. When making Your Plan, You'll need to Establish a Hierarchy among Your Debts & make a Plan Of Attack. Experts say to Target the High-interest Debt 1st; Non-Deductible, Low-interest Debt Next; and Tax-Deductible Debt Last. 3. Get The Damage Report - Check your credit Score and review your credit report for inaccuracies or patterns of bad behavior. You can get your credit rating the same way lenders, and landlords do—from each of the three credit bureaus - Experian, Equifax, and TransUnion. 4. Gaining Control - Get rid of Troublesome Accounts and Pay Down your overall debt on time. Use Automatic Payments & Tighten Up your Budget to get your debt under control. This will keep your credit rating from getting worse and, over time, will improve it. 5. Doubling Down - Whenever possible, Double Up the payments on your highest-interest debt. Although it's not quite as efficient as consolidating, Doubling Up on payments can speed up the payback period. Once you've eliminated the highest-interest debt, double up payments on the next-highest debt. This strategy is called a Debt Avalanche. H o u s e k e e p i n g New Merch is out - > www.SAUNAIE.com/store/ Digit Link - > https://digit.co/r/Z1jPwzPBzN?ad&twb=true --- Send in a voice message: https://anchor.fm/saunaie/message Support this podcast: https://anchor.fm/saunaie/support

Join Financial Advisor Tim Russell, CFP® and Rev. Drew Gysi as they discuss two different debt repayment methods: The Debt Snowball and The Debt Avalanche.See the show notes here!Learn more at: StewardologyPodcast.comSchedule a Personal Stewardship Review at: StewardologyPodcast.com/ReviewGet in touch with us at: Contact@StewardologyPodcast.comor call us at: (800) 688-5800Send us episode ideas! StewardologyPodcast.com/idea

John and David of Debt Free Guys and Queer Money Podcast join Sammie and Michelle to talk about credit card debt. We had an amazing conversation discussing how they got into credit card debt, how it mirrors so many other people's stories and the best ways to get out of credit card debt including their Debt Lasso Method. Where to find John and David:  The Debt Free Guys: debtfreeguys.com Queer Money Podcast: queermoneypodcast.com or listen here  Debt Lasso Method: 7-Step Credit Card Debt Slasher Follow on Instagram: @queermoneypodcast and @debtfreeguys References: Profit and Prejudice: The Luddites of the Fourth Industrial Revolution by Paul DonovanAfford Anything with Paula PantJulie McCoy from The Love Boat "Debt Avalanche vs. Debt Snowball: What's the Difference?" (Investopedia) Groupthink #19: The 5 People You Surround Yourself With"A man is but the product of his thoughts what he thinks, he becomes." - Mahata Gandhi Status Post Adulting Instagram: @statuspostadultingStatus Post Adulting Email: statuspostadulting@gmail.comFind all show notes at statuspostadulting.com

Debt may seem like a four-letter word to some people, but there's nothing to be worried about for this episode. Spending Behavior Strategist, Amanda DeLaney, talks about her strategy for tackling debt covering how to get started and how to include it in the way she budgets. Debt Avalanche vs Debt Snowball: Article from InvestopediaEpisode 03: How the Shift from Cash to Credit Card Influences Spending HabitsConnect with Amanda:Free Facebook Community: https://www.facebook.com/groups/2462800253975452https://financialfixher.com/Podcast: Financial FixHerFollow me:https://www.instagram.com/its_coach_jess/

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Christy Wright, Dr. John Delony, and George Kamel. Part of the Ramsey Network. Delivered to you five days a week.

Finances are often a taboo subject, but it's a topic that impacts every single one of us. In this episode of "What Matters Most," Tim Moore chats with Norm & Glynis Wohlschlaeger about their story and how making some tough decisions early on made a huge impact on their future. Building healthy financial habits is possible no matter where you're at on the journey! Get a free budget tool here. *There is both a free and paid version of this resource. Learn more about Financial Peace University here.*We offer this class during our Community Nights at Faith Community.  Learn about the Debt Snowball & Debt Avalanche methods here.The Best of Cheapskate Monthly by Mary HuntDebt-Proof Living Resources00:00 Welcome01:00 Introductions03:35 Their personal story07:17 Money struggles16:10 Making changes & starting the journey to freedom20:28 The importance of working together & having a vision25:58 How long the process took & how they kept going29:35 What life looks like today33:24 Money is a tool to use35:13 There's no magic solution. You just have to do the work. 38:07 What keeps people from taking control of their finances. Spoiler alert: you can do it!40:45 Paying attention to what you spend44:12 Advice for our younger friends - start saving now & get a vision!46:44 Recognize your skills and talents, then leverage them - especially when you're young!50:15 Don't be afraid to talk about money and ask for help when you need it. You're not alone.53:18 Tools you can use & helpful practices57:51 Heart attack, surgery, and the benefit of being prepared1:01:19 Final thoughts & encouragement to take your next step toward financial health. You can do it!

You've probably heard of the "Debt Snowball" but have you heard of the "Debt Avalanche"? Find out how to rapidly pay down debt and create margin in your financial life using this simple technique. In this episode, we'll explain how the Debt Avalanche works and how it can help you pay your debt faster and pay even less in interest than using the Debt Snowball method. Email: info@nateskelly.com Website: https://www.nateskelly.com Facebook: https://www.facebook.com/financialpathwayllc

Welcome to the Balanced FI Podcast, episode 14! Thank you so much for listening in!Step 7 of the Financial Security Steps is: Pay Off Debt. This episode covers how to make that happen: Create a debt payoff planSave money where you can (or make more money)Make saving money fun through challengesCommunicate with your partner Resources:Read: Financial Security Step 7, Pay Off DebtDownload: Debt Payoff PlannerEnroll: Frugal Year Challenge (free in 2021!)Read: Financial Security Step 1, Track Your ExpensesRead: Financial Security Step 5, Create a Debt Payoff PlanRead: Financial Security Step 6, Create a BudgetRead: 4 Unexpected Ways to Save MoneyRead: Fun Money Budget: What You Need to KnowRead: 3 Ways to Use Meal Planning to Save MoneyRead: 30 Day Challenge + Free 30 Day TrackerRead: 7 Steps to Find Motivation for Debt PayoffRead: Struggling to Talk to Your Spouse About Money: 3 Simple Steps to Help Sources:SmartDollar

We examine the pros and cons of the debt snowball vs. debt avalanche to help you decide which payoff method is best for you. The post Debt Snowball vs. Debt Avalanche: Which Debt Payoff Method Is Best? appeared first on The College Investor.

We examine the pros and cons of the debt snowball vs. debt avalanche to help you decide which payoff method is best for you.

Welcome to the Balanced FI Podcast, episode 10! Thank you so much for listening in! After you download the free Debt Payoff Planner, fill it in by listing all of your debts. Next, choose a payoff method - debt snowball, debt avalanche, or a hybrid method -  that works with your life and personality.Finally, calculate your rolling debt payment amount and put it into practice in your own financial life. Use this method to keep your motivation up, to stay engaged in the long debt-payoff process, and really speed the timeline up. Resources:Read: Financial Security Step 5, Create a Debt Payoff PlanDownload: Debt Payoff PlannerRead: Financial Security Step 2a, Save a Mini Emergency FundRead: Financial Security Step 3, Save for Recurring ExpensesRead: Financial Security Step 4, Calculate your Net WorthRead: Financial Security Step 6, Create a BudgetAnnual Credit ReportCredit KarmaSources:Dave Ramsey: How the Debt Snowball Method WorksNerd Wallet: How to Use Debt Avalanche

Join the TMG Community Newsletter for a replay of my free personal finance webinars at TheMarcusGarrett.com/webinar This week: a 4-week D.E.B.T. Free System, The 50/30/20 Budget, Debt Snowball versus Debt Avalanche, how to achieve an 800 FICO, and much more!

Debt is one of those things that seems like a good idea at the time, but turns out to be a compounding mistake. Whether it's a credit card debt, car loan, or a mortgage we owe money. When you have debt, you need to pay it off as quickly as possible. Here are some strategies to help you pay off debt fast. Written by Sebastian Rodriguez, Founder at ProsperityLeaders.net What you will learn: Why should you pay off debt? How to pay off debt fast?: Changing your behaviors to pay off debt. Do's and dont's of paying off debt Debt Reduction Strategies: Reduce interest, Debt Snowball vs. Debt Avalanche, Debt Consolidation, Debt Settlement 4. Conclusion: Make more Money, Save more money, and Pay Off Debt Fast Originally Written by Sebastian Rodriguez, founder at Prosperity Leaders. source: https://prosperityleaders.net/how-to-pay-off-debt-fast/ --- Send in a voice message: https://anchor.fm/prosperityleaders/message

If you find yourself with too much debt, you're not alone. America has a debt problem. The accumulation of high-interest debt is one of the quickest ways to derail your financial life, so it's no surprise that strategies and philosophies on debt re-payment are a popular topic among financial commentators. With so many people telling you what to do with your debt, how do you know which approach is the best? In this episode, we break down two of the most popular approaches to debt re-payment (the Debt Snowball and the Debt Avalanche,) then do the math to help you understand which one will maximize your money and get your finances back on track! For more information, visit: https://www.moneyguy.com/2021/06/debt-snowball-vs-debt-avalanche-best-way-to-pay-off-debt/

Today on the show: Which is better paying off debt fast or paying off debt easier? Today we're breaking it down! Text a friend about this show! Thanks for helping to spread the word! Become an ELEVATED COMMITTEE MEMBER! It's only a dollar! https://www.patreon.com/SparksRadio Watch and SUBSCRIBE to this episode here: https://youtu.be/IZKqQxtl4dg?sub_confirmation=1 This is the link to BlockFi where you can earn 6% interest on your Bitcoin - We get paid a bit if you use this, but I also use this - blockfi.mxuy67.net/kj0vkn Watch the CRYPTO RANT VIDEO HERE: https://youtu.be/vJR5LPv1j1s?sub_confirmation=1 SHOP THE SHOP! SparksRadio.com/Shop The Sparks Show is put out LIVE every weekday at 8am ET! Subscribe and get it everyday! Tell a friend you enjoyed it! Follow and DM your address on INSTAGRAM @SPARKSRADIO for a free Sparks Radio sticker and I'll mail you one! Thanks for hanging! The following are Amazon Affiliate links, so we'll make a little bit if you do end up buying them: Electric toothbrush link: https://amzn.to/33kDx8L Pike's Cheap Ass toothbrush link: https://amzn.to/3lhIMwj (Sparks recommendation) THE BEST TOILET PAPER: https://amzn.to/33lECwZ _______________

Today on the show: Which is better paying off debt fast or paying off debt easier? Today we're breaking it down! Text a friend about this show! Thanks for helping to spread the word! Become an ELEVATED COMMITTEE MEMBER! It's only a dollar! https://www.patreon.com/SparksRadio Watch and SUBSCRIBE to this episode here: https://youtu.be/IZKqQxtl4dg?sub_confirmation=1 This is the link to BlockFi where you can earn 6% interest on your Bitcoin - We get paid a bit if you use this, but I also use this - blockfi.mxuy67.net/kj0vkn Watch the CRYPTO RANT VIDEO HERE: https://youtu.be/vJR5LPv1j1s?sub_confirmation=1 SHOP THE SHOP! SparksRadio.com/Shop The Sparks Show is put out LIVE every weekday at 8am ET! Subscribe and get it everyday! Tell a friend you enjoyed it! Follow and DM your address on INSTAGRAM @SPARKSRADIO for a free Sparks Radio sticker and I'll mail you one! Thanks for hanging! The following are Amazon Affiliate links, so we'll make a little bit if you do end up buying them: Electric toothbrush link: https://amzn.to/33kDx8L Pike's Cheap Ass toothbrush link: https://amzn.to/3lhIMwj (Sparks recommendation) THE BEST TOILET PAPER: https://amzn.to/33lECwZ _______________

¿Sabías que 3 de cada 4 familias tienen deudas rotativas? Quizás piensas que vivir con deuda de auto, préstamos personales y tarjetas de crédito es “just fine” o “normal”. Sin embargo, vivir una vida “normal” tiene el potencial de llevarte a un estilo de vida INSOSTENIBLE para tu futuro financiero. Si este es tu caso, permíteme decirte que NECESITAS tomar acción ya! Es hora, mi gente. Eliminar tus deudas es un paso que necesita atención URGENTE si aspiras a vivir tu Libertad Financiera.Aprende aquí: la estrategia que te va a ayudar a deshacerte de estas deudas LO ANTES POSIBLE. 1️⃣ Cafecito Ready2️⃣ Un buen Respiro3️⃣ Dale PLAY⚠️Ayúdanos a llegar a más personas como tú. Solo tienes que “rate us” con un 5-star rating y un review en Apple Podcast (old iTunes). ⚠️ No te pierdas la Cumbre de Finanzas Personales el 24 de Abril 2021: https://www.finanzasonthego.com/cumbre2021/¡Síguenos en nuestras Redes Sociales!Facebook: https://www.facebook.com/cafeonabudget/Instagram: https://www.instagram.com/cafeonabudget/ 

In this episode, we discussed the two main methods of paying off debt: The Debt Snowball versus the Debt Avalanche. We also discussed what we consider good or bad debt. We told our debt stories and how we struggled with debt and which method we used to pay off our debt. We also mentioned a list of books that we read that helped us in our personal finance journey. --- Send in a voice message: https://podcasters.spotify.com/pod/show/fitalkpodcast/message

Today, I talk about the top two most talked about debt pay down strategies: The Debt Snowball, and The Debt Avalanche. I talk about how each one works, in what situations would one or the other be better for you, and my recommendations for someone using either of these methods!   If you are on twitter, be sure to check out Jason from @FinanceHippy Have ideas for a future episode? Send in an email or tweet @MainStMoney to have your idea as a future show! Be sure to check out the YouTube channel for new demonstrations! My Usual Links: Show Email address: Mainstfinance@gmail.com Twitter Account: @MainStMoney YouTube Channel: https://www.youtube.com/channel/UCxWzLF_ZCgeDJ6PcIovg9ww

What is the best way to pay down debt? Americans are in tremendous amounts of debt (think over 400 billion on just credit cards alone)! Not only is this debt keeping folks from reaching their financial goals, but it’s also taking a toll on the mental health of borrowers. Knowing the best strategy to get out of this debt is a big deal and could be the difference between living paycheck to paycheck or achieving financial freedom. Listen as we cover both approaches so you can decide which is better for you: the debt snowball (popularized by Dave Ramsey) and the debt avalanche (also known as debt stacking). During this episode we enjoyed a Maple Vanilla Copra Kai by Southern Grist Brewing. And as we’re looking forward to kicking things off with a bang in 2021, we could really use your help to spread the word- let friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money in these difficult times! Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers

How can you develop proper money management skills if you don't know where to start? I get it. Understanding finances can be a difficult, confusing, or even complex topic for many. And if you weren't educated on it growing up, it can be really nerve-racking trying to figure out where to begin. In this episode we talk about basic money skills every adult should know to help secure their financial future. From learning how to create a budget to basic investing principles, you will learn the core pillars on how to manage your money. And remember, there are so many ways to educate yourself. You may not have learned how to manage your finances growing up, but you have the opportunity right now to change that. We also talk about: Free platforms to learn about finances Identifying your money mentality Debt snowball vs Debt Avalanche pay off methods Episode Edit: @23:25 --> $1,500 * 12 = 18,000 NOT $1,800. Good one, Cat. Good one. Frugal Tip Shout Out: Instagram: Megan, @frugaltaurus Resources: Education Platforms YouTube Instagram edX Skillshare HYSA Ally American Express Chime Let's connect: Website: www.funfrugalfree.com Instagram: @funfrugalfree Email: funfrugalfree3@gmail.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/funfrugalfree/support

In today's discussion, performance mindset coach, Sean Hansen, dips into the personal finance world to help frame the discussion around strategies for behavior change.  Many people are familiar with the Debt Snowball and Debt Avalanche/Stacking methods for eliminating personal financial debt.  Similarly, when it comes to productivity, people have often heard that they need to "eat that frog."  Meaning, that they should tackle the hardest thing first to be most productive.Sean breaks down those concepts and applies them to the mindset mastery game and how each method could be beneficial or counter-productive to real behavior change.Resources mentioned in this episode:Dave Ramsey blog post on Debt Snowball vs. Debt Avalanche methodsBrian Tracy's - Eat That FrogAre you an executive, entrepreneur, or combat veteran looking to overcome subconscious blind spots and limiting messaging to unlock your highest performance?  Feel free to reach out to Sean at Reload Coaching and Consulting.

Getting to Financial Freedom does not happen over night. It is a process and there are many different roads to lead you there. Regardless of the path you take to reach Financial Success there is one step that we all must take. Managing and eliminating DEBT is crucial. Debt will deplete wealth and derail financial momentum.In this episode we are going to talk about debt! The good, the bad, and the ugly! We will give our debt stories and "ah ha" moments we had when making the choice that debt was no longer going to be apart of our lives. Our reasons may be different, but our goal was the same. LIVE DEBT FREE!We will discuss debt and it's role in relationships and marriage, different methods of debt payoff like the Debt Snowball vs Debt Avalanche, and other highly debated debt topics such as "Good Debt". We hope you enjoy this episode of Average Money. For video clips visit us on our YouTube Channel: Average Money YT LinkVisit us on our Instagram Page @AverageMoneyPodcast

"You have to take a step back, focus on what you can control and what you can control is your own household, and what you do there.” - Mike Zung, CFP® of Java Wealth PlanningIn episode 2, this is Part 2 of the Laying the Foundation series to kick off Personal Financial from the Hill-Top. Mike Zung, CFP®, from Java Wealth Planning, and I discuss why getting out of debt is crucial to your building wealth and a foundational principle for building your personal financial plan. We share first hand experiences, how to do it, and even have a little fun along the way.The rich rules over the poor, and the borrower is the slave of the lender. - Proverbs 22:7Resources:Car Depreciation,The Millionaire Next Door by Thomas Stanley,The Next Millionaire Next Door by Sarah Stanley Fallaw,7 characteristics that most “Millionaires” exhibit,FICO Score,Northwestern University Study on Debt Payment Method,Debt Avalanche,Debt Snowball,Debt Snowball Worksheet,US Debt Clock,Our Debt Free Scream!,I Turn My Camera On - Spoon,Sexy and I Know It - LMFAOMike Zung, CFP® - Java Wealth Planning: Website,YouTube,Blog,Facebook,Twitter,Instagram,LinkedIn,XY Planning Network (XYPN),NAPFAKyle Hill, CFP® - Hill-Top Financial Planning, LLCWebsite,

It can be easy to find yourself buried in debt. What matters most is having a plan to come out of it. In this episode, Zach Roberts of Application-Based Learning joins Chase to discuss the different ways to tackle debt. In this episode, we cover: Debt Snowball, Debt Avalanche and Other Methods of Eliminating Debt Which Method is Best for Which Person An Example of Each Strategy in Action To learn more about Zach and Application-Based Learning, check out: Facebook: https://www.facebook.com/ApplicationBasedLearning/ Instagram: https://www.instagram.com/applicationbasedlearning/ Pick up a copy of Chase's book here: https://www.amazon.com/dp/1082783188

Does recent events have you asking how to get out of debt? When debt is holding your paycheck hostage, using the best ways to pay off debt is key to success. Should you use the debt snowball or debt avalanche method? Many personal finance advisor says debt avalanche, but this financial lifestyle coach is proving that the debt snowball method really is king! ON YOUTUBE: https://youtu.be/VFv3bplobjI  Today, we used the Debt Reduction Calculator from Vertex42 to compare these debt payoff methods: https://www.vertex42.com/Calculators/debt-reduction-calculator.html Want a chance to win a $50 Amazon gift card? Just answer 10 questions that will help me service women entrepreneurs just you like as you step out of the coronavirus craziness into America 2.0. We’ll raffle the gift card live on my YouTube channel on Wed., May 20th at 1:00pm CST: https://www.tianabclewis.com/research Get more tips and strategies on creating a stellar budget here: https://www.tianabclewis.com/learn-to-budget #debtsnowball #debtavalanche # howtopayoffdebt

This is Money Talks on TEA Project: A Family Podcast. Your hosts, Gadiel and Michelle Espinoza. A husband and wife duo, where they discuss Personal Finances, Managing a Household, and so much more. Gadiel is a father, husband, a Military Veteran, and a Lawyer. Michelle is a mother, wife, BOSS, and above all, a productivity ENTHUSIAST!!! Oh yeah, she is also a Certified Public Accountant, and a Financial Director of a large corporation.In this episode, Michelle and I discuss the two methods you can use to pay down your credit card debt.Remember, either method can work for you but it depends on your actual financial standpoint. ie., how much income you receive each month, your monthly expenses, etc. Here is a link where you can learn more about opening up a Chase Bank account, which is who we bank with regarding our Youtube Productive Bunch Channel as we run every expense related to this channel as a business expense.If you are a business owner and are interested in learning more Chase business credit cards, which is what we use, here is a link to learn more and earn 80,00 bonus points with Chase Ink Business Preferred.Chase is by far one of the better banks in the market for your personal banking and small business needs.Please like, subscribe, and share. Check out our website: http://productivebunch.com/ and our Youtube Channel: TEA ProjectIf you are interested in learning more about how and why we created our podcast, click here. Buzzsprout is our podcast hosting service. Buzzsprout gets your show listed in every major podcast platform such as iTunes, Spotify, TuneIn, SoundCloud, and many other platforms.You’ll get a great looking podcast website, audio players that you can drop into other websites, detailed analytics to see how people are listening, tools to promote your episodes, and more.Podcasting isn’t hard when you have the right partners.The team at Buzzsprout is passionate about helping you succeed.Join over a hundred thousand podcasters already using Buzzsprout to get their message out to the world.website: http://productivebunch.com/Instagram: https://www.instagram.com/productivebunch/Instagram: https://www.instagram.com/teaprojectpodcast/Twitter: https://twitter.com/bunchproductiveFacebook: https://www.facebook.com/productivebunch/Pinterest: https://www.pinterest.com/productivebunch/Support the show (https://www.buymeacoffee.com/moneytalks)

In May 2010, I married my dream girl. She was funny, beautiful and chock-full of 90's TV trivia. Our first couple of dates consisted of a lot of Saved by the Bell and Seinfeld jokes. Outside of knowing the Soup Nazi episode verbatim, Nicole and I both came into the marriage knowing the general basics of personal finance. You know, advice like: "Don't carry a credit card balance" "Always have some savings for a rainy day" "Good debt is okay to have" In the years before our marriage, we did rack up a hefty amount of "good" debt. Car payments and student loans were a few of the good debt offenders we carried into our marriage. Hey, you NEED a car to get around, right?! And how else are you going to pay for college?!  After some research and personal soul-searching, there really was no good debt or bad debt in our eyes. It was just debt to us. This was all just money we owed someone. It wouldn’t go away until we decided to clean it up. We decided that being in debt was not something we wanted for our new family. We vowed to become debt-free (outside of our mortgage) before our first child was born. In September of 2010, we owed $20,908 on my wife’s car and $27,124 on my student loans for a grand total of $48,032 of good/bad/indifferent debt. During the next 12 months, we took that $48,032 of debt and clobbered it! By September 2011, we owed $0. Zilch. Nada. Bye-bye debt. Here are the 5 steps we took to rid debt from our family forever: 1. Develop a Monthly Budget We developed a monthly written budget that defined our way forward. We knew we had to reduce our expenses and increase our debt payments. The written budget guided us to ensure we would stay the course. For budgeting, we used a simple spreadsheet. It wasn't too fancy. We just listed out our income and our expenses and made sure we allocated each of our dollars to an assignment.  As the years past, we decided to upgrade to Mint. This online budgeting tool gave us more flexibility and made the monthly budgeting process a lot quicker through its ability to link up to your bank and credit card accounts.  I developed a simple 10-step guide to get started on Mint. (For couples, consider checking out Zeta. This is another free budgeting option that will help you win together.) Good old fashioned pencil and paper will even do! Make sure you have a budget and stick to it. 2. Choose Your Debt Elimination Strategy There are multiple debt elimination strategies to consider. Choose the one that works best for you and your situation. Debt Snowball How it works: Take your debts and line them up from smallest amount owed to the largest amount owed Pay the smallest off first by making extra payments each month Given that you’ll now have less interest to pay with one of your eliminated debts, take that extra amount of money and start paying down the principal on the next debt The process continues with your payments growing larger like a snowball down a hill Debt Snowball Example: You have $2,000 in credit card debt, $500 in medical debt, $25,000 in a HELOC Pay off the medical debt first, then the credit card, then the HELOC Why the Debt Snowball works: By getting some quick wins in paying off your smallest debt first, you’ll feel motivated to keep going! If you started with the $25,000 HELOC, you could be at it for a quite a while and become uninspired to continue paying off your debt Debt Avalanche How it works? Take your debts and line them up from largest interest rate to smallest interest rate Pay off the debt with the largest interest rate first by making extra payments each month The process continues similar to the debt snowball Debt Avalanche Example: Credit card debt (20% interest), medical debt (4% interest), HELOC (6%) Pay off credit card debt first, then HELOC, then medical debt Why the Debt Avalanche works: Mathematically, this helps you pay off the most financially draining debts that you have and will (in theory) help you save the most money. Other Debt Elimination Options Hybrid Model You can also look at using a Hybrid Model of these two approaches where you pay off the debt with the largest interest percentage first, and then get some quick wins on the debt with the smallest balance. Debt Hatred Or simply just choose the debt that you HATE the most and smash that one first! We chose the Debt Avalanche method because our student loan and car debts amounts were nearly similar. The student loan had an interest rate of 6.8% so we decided to blow that one up as soon as possible and then tackle the car loan. If the student loan refinancing companies like SoFi were around then, I definitely would have taken advantage of that for a lower interest rate (and even a cash bonus!) 3. Increase Your Income Outside of spending less money, another great way to eliminate your debt fast is to make more money! Before we decided to go crazy on our debt, I received a promotion to a sales position that allowed me to make a commission when I brought in new business. At that time I was making around $70,000 per year without commissions. When Nicole and I decided to rid ourselves of our debt, let’s just say, I became highly motivated to sell … a lot. I expanded our portfolio with a major client and doubled our business in 2011. Our business grew, my team grew and so did my commission checks. I ended 2011 with just over $100,000 in total income! With that additional income, we did not adjust our lifestyle and buy new clothes, fancy dinners, and jewelry. We took the extra money we received each month and slowly but surely paid down our debt using the Debt Avalanche. Now you may not be in a sales job like I was, but increasing your income is completely in your hands. It just takes extra effort. 10 ideas to increase your income Here are 10 ideas for increasing your income immediately. I’ve done 5 of these personally: Detail the value you bring to your company and ask for a salary increase Sell household items you don’t use anymore on Facebook Marketplace Become an Uber or Lyft driver in your downtime Airbnb a room at your house Get a roommate and charge a monthly rent Use your skills to create something and sell it online (Etsy, etc). Help people with everyday tasks through services like Task Rabbit Become a freelance writer or start a blog Sell unused gift cards on eBay or Cardpool Start a weekend dog sitting service Related Article: 26 Smart Ways for Moms and Dads to Make More Money 4. Stick to the Plan It is incredibly easy to stray away from your budget and your debt elimination strategy. There are always shiny objects that will distract you and take you off course. Although I consider myself a frugal and disciplined guy, I had a tough time not spending the extra commission dollars I was receiving at my job. I’m human, right? To help me stay on track, my wife and I would remind ourselves that being debt-free before our first child came into the world would set our family on a course for financial success that would last our entire lives. That reason for pushing hard (my “Why”) gave me the motivation to stick to the plan. I kept thinking about how SATISFYING it would feel to rid ourselves completely of this debt. 5. Celebrate the Wins We’re not robots. Live a little! When you pay off one of your debts, celebrate!! Go out to dinner. Pop some champagne. Share the news with family and friends. This is a BIG deal. You are NOT normal (in a good way)! This encouragement will motivate you to keep charging down the path toward complete financial freedom. Nicole and I celebrated each debt crushing milestone together and it made our new marriage that much stronger. We were partnering together on something so important for our future and we were winning. That year of debt destruction allowed us to have Nicole leave her job and stay home to raise our kids. You can't put a price tag on the bond she's developed with Zoey and Calvin during the first years of their lives. Fast forward to today, we've kept up our debt elimination plans and have paid off our $195,000 mortgage in less than 4 years. That major reduction in our expenses has allowed both me and Nicole to choose the work we want to do instead of the work we have to do.  At this rate, we’re creating a financial future for our two children that we would never have imagined possible. And to think, it all started with taking that first step in making the conscious decision to eliminate our debt once and for all. Now we have the freedom to live the lives we’ve always wanted. CLICK “PLAY” AT THE TOP OF THE POST TO LISTEN TO THIS INTERVIEW OR LISTEN ON: Show Sponsors FLO BY MOEN Receive 20% off by using discount code “Marriage20“. Learn more here. DEBT.COM Get your free consultation by visiting here. Mention Andy from MKM sent you! MKM Podcast Resources Thriving Families Facebook Group:  Join our new FREE Facebook Community! Young Family Wealth Playbook (FREE):  7-Steps to Solidifying Your Family’s Future Wealth Support this Show If you enjoyed this episode, here are some excellent ways to support the show: Leave a review for the show on Apple Podcasts or Stitcher Leave a comment below Check out my Recommended Resources Page Subscribe to the show on Apple Podcasts, YouTube, Spotify, Google Podcasts or Stitcher Join our Thriving Families Facebook Community – learn and help other families grow their wealth I truly appreciate the support everyone! Questions? I’d love to hear from you! If you’d like your question featured on the show, reach out and let me know. It would be my honor to support you in your journey toward financial freedom. Leave me a voicemail or connect with me on Instagram, Twitter and Facebook. Carpe Diem Quote "Believe you can and you're halfway there." Theodore Roosevelt SUBSCRIBE TO THE PODCAST TODAY (IT’S FREE): WHAT DOES A DEBT-FREE LIFE LOOK LIKE FOR YOU? PLEASE LET US KNOW IN THE COMMENTS BELOW.

Being neck-deep in debt can make you feel like all the odds are stacked against you, especially when you reach almost the seven figures! Today, Andy talks to Wendy Mays on how her family is climbing out of nearly $1,000,000 of student loans, home mortgages, car loans, and other consumer debt. Wendy is the host of the House of FI podcast, a part-time work-from-home lawyer and a mother to six children.  We talk about how she and her husband accumulated their debt, the turning point that led them to fix their situation and their progress on their journey to financial independence so far.  https://youtu.be/oM965CZVM3Q How they accumulated their debt Wendy and her husband went to college and amassed a huge amount of student loan debt. They started their marriage with six-figures of debt, believing that they would eventually be able to pay it all off. Wendy went to private law school and her husband earned degrees to support his teaching career. When it was all said and done, their total student loan debt was $330,000. Every time they made more money, they would spend it. They ended up getting a beautiful house in San Diego with a $550,000 mortgage. On top of that, they had a few car loans and borrowed money to renovate their house. By the time they reached their 40's, this brought their total debt to nearly $1,000,000. What made them want to improve their financial situation After adopting four children, Wendy realized she wanted a lifestyle change so she could stay at home with the kids. Wendy Mays with her husband Curtis and their six children But she couldn’t figure out a way. Without her income, they wouldn’t be able to pay the debt. She felt very stuck and hopeless. Her situation led her to Google a “laptop lifestyle”. One thing led to another and she discovered The Mad Fientist. After doing her research and learning as much as she could about financial independence, she figured out how she could save 50% of her income and improve her situation. What steps they took to fix their situation The first step was to reduce expenses. Wendy knew they had to be intentional with their spending. They eventually cut $10,000 from their monthly budget, while she was living on her lawyer's salary of $180,000 - $200,000 per year. Here's how they did it. Build a Budget and Question Every Expense To cut their spending down, they need to get aggressive. This meant looking at every dollar they were spending and finding ways to reduce it or eliminate it. By budgeting their monthly spending, this process became a lot clearer. Reduced Spending on Food Spending less on groceries and eating out became one of the first areas that they tackled. Their family, even with 8 family members, spent around $2,000 per month on food. It was too much in Wendy's opinion. Erase the Debt They attacked their debt with the Debt Snowball, and then they switched to Debt Avalanche for 2-3 years. The debt really took a huge cut after selling their house.  Once the house was sold, the plan was to pay off all of their debt outside of their student loans and take what was left and get into real estate investing. They are now saving $1,100 per month on housing expenses by renting the place they live as opposed to buying another home. Related Interview: 15 Ways to Save More Money When You’re Living Paycheck to Paycheck Bringing the family on board Was Wendy's family happy with this plan? At first, Wendy’s husband was reluctant. But they had some important conversations about their future and eventually got on the same page. By sitting down and understanding their goals, they were able to work together.  How about the kids? Wendy and her husband have been teaching them about how to use money as a tool, about passive income and valuing experiences over material objects. By having little conversations here and there and talking about saving, she hopes they will grow up to be more financially aware.  Related Interview: 5 Steps to Getting on the Same Financial Page as your Spouse Their progress so far When they first started out, their savings rate was 5-7%. Now it’s at a healthy 30%, with a goal to be retired at the age of 55. They receive regular cash flow from their real estate properties (around $1,100 a month) and want to leave their retirement accounts as a legacy for their children. Why real estate and not some other investment strategy? Because they found the financial independence movement in their mid-40s and realized that real estate investing would be the fastest method to get them to financial independence.  In November 2019, Wendy retired from work (or semi-retired, since she has one client!) and is able to stay at home with her kids. Although they still have debt, it’s now their tenants that are helping them pay their student loans. Related Interview: How We Paid Off $300,000 of Student Loans in 6 Years – with Okeoma Moronu Wendy's advice for others tackling huge debt If you’re someone struggling with a lot of debt, Wendy’s recommendation is to attack it as soon as possible. Look at your situation, evaluate your expenses and be willing to think outside the box.  What is she hoping for her kids? She wants them to be able to get an education without drowning in student loans. She wants them to understand that saving is important and that you don’t need to spend everything you’ve got. Wendy and her husband had a huge amount of debt but were able to fix their situation with intentional spending, careful planning and clever financial strategies. Their path to financial independence is now clear. CLICK “PLAY” AT THE TOP OF THE POST TO LISTEN TO THIS INTERVIEW OR LISTEN ON: Show Sponsors FLO BY MOEN Receive 20% off by using discount code “Marriage20“. Learn more here. Fetch rewards Earn when you sign up here (use code “MKM”). MKM Podcast Resources Thriving Families Facebook Group:  Join our new FREE Facebook Community! Young Family Wealth Playbook (FREE):  7-Steps to Solidifying Your Family’s Future Wealth Support this Show If you enjoyed this episode, here are some excellent ways to support the show: Leave a review for the show on Apple Podcasts or Stitcher Leave a comment below Check out my Recommended Resources Page Subscribe to the show on Apple Podcasts, YouTube, Spotify, Google Podcasts or Stitcher Join our Thriving Families Facebook Community – learn and help other families grow their wealth I truly appreciate the support everyone! Questions? I’d love to hear from you! If you’d like your question featured on the show, reach out and let me know. It would be my honor to support you in your journey toward financial freedom. Leave me a voicemail or connect with me on Instagram, Twitter and Facebook. Carpe Diem Quote "All the adversity I've had in my life, all my troubles and obstacles, have strengthened me." Walt Disney SUBSCRIBE TO THE PODCAST TODAY (IT’S FREE): Are you pursuing financial independence? Please let us know in the comments below.

Check out the show notes at https://youtu.be/cOcya7WeqXI

Debt snowball? Debt Avalanche? Sounds wintry. What's the difference? And which one is right for you?

What is the best way to pay down debt? Americans are in tremendous amounts of debt (think over 400 billion on just credit cards alone)! Not only is this debt keeping folks from reaching their financial goals, but it’s also taking a toll on the mental health of borrowers. Knowing the best strategy to get out of this debt is a big deal and could be the difference between living paycheck to paycheck or achieving financial freedom. Listen as we cover both approaches so you can decide which is better for you: the debt snowball (popularized by Dave Ramsey) and the debt avalanche (also known as debt stacking). During this episode we enjoyed a Maple Vanilla Copra Kai by Southern Grist Brewing which you can find on Untappd. Another big thanks to Jamie and friends up there in Nashville for donating these beers to the show! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you. Best friends out! Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers

This week, we’re talking about the importance of unloading your debt before you transition into retirement. Yesterday, I talked about the easy first step of eradicating debt from your life - just taking inventory. I had you list all of your debts, the amount owed and the interest rate on each debt. Knowledge is power, so we have to start by knowing where we stand today. Now that you hopefully have your debt inventory list, let’s look today at 2 very popular debt reduction strategies - the debt snowball and the debt avalanche. In the debt snowball method, you to list your debts, smallest to largest, and start knocking out the smallest debt first. And then move on to the next smallest, knock that out, and continue down that path until all of your debts are wiped out. It’s a snowball, because the snowball starts small, but grows over time. The debt avalanche method, on the other hand, lists all of your debts, from highest interest rate to lowest interest rate, and you start by knocking out the highest interest rate debt first. And then you move on to the next highest interest rate debt, and continue until all your debt is gone. An avalanche to rid yourself of debt sounds better than a snowball, right? But personally, I nearly always recommend the debt snowball method to clients. A lot of people might disagree with me, since financially it’s usually better to tackle this highest interest rate debt first. In many cases, you’ll pay less in interest over the years with the avalanche method. Imagine that you have a $10,000 credit card debt debt at 24%. That’s your highest interest rate debt, so if you pick the debt avalanche, you’ll pay that one off first. But how are you going to feel in 9 months when you’re still slogging away, paying off that first debt. You’re making progress, but it’s been 9 months and you’re still paying off that first debt. It’s harder to keep going when it doesn’t feel like you’re winning. But let’s say you pick the debt snowball instead, and you have a $250 balance on your Macy’s card, and a $1200 medical bill to pay off. Those are your smallest debts. The first one you knock out within a month and the other one only takes you 2-3 months. Ching ching ching! The quicker wins and the accomplishment from paying off 2 of your debts gives you the motivation to keep going once you get to the bigger debts. Your confidence grows because you’ve made progress and achieved some success. So we need the gratifying rewards that come with making progress quickly. From here, you now have a path to follow to reduce your debt, but also make sure that your chosen path is going to motivate you to see this through to the end. That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the One Minute Retirement Tip. --------- >>> Subscribe on iTunes: https://apple.co/2DI2LSP >>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs >>> Check out our blog: https://truenorthretirementadvisors.com/blog/ ---------- Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance, wealth management, rachel cruze, getting out of debt, debt snowball, debt avalanche, amortization, amortization schedule, debt free, debt free living, debt free calculator, debt in retirement, dave ramsey, total money makeover

If you’ve got a mountain of debt, there are two awesome ways to shred it - the Debt Snowball and the Debt Avalanche. Read on to learn how to choose which is right for you and what to do if you can only pay your minimums. If you’re already well-versed, check out the end of the post for an awesome spreadsheet to show how much better Debt Avalanche is. Listen to the article

Do you ever feel like you are paying off your debt with the little bit here or a little bit there mentality? Most people are a mile wide and inch deep when paying off debt, however I am going to show you how be an inch wide and a mile deep and laser focused with your debt payoff plan. In this week’s episode, I am going to share with you the proven formula we used to pay off our $52k in 7 months and the exceptions to every rule when paying off your debt the right way. Debt Snowball vs Debt Avalanche: http://moneypeach.com/debt-snowball-vs-debt-avalanche

Money Mini Blog's Kalen Bruce talks about the debt snowball vs. the debt avalanche as strategies to get out of debt. Episode 118: How to Pay Off Your Debt: The Debt Snowball vs. The Debt Avalanche by Kalen Bruce of Money Mini Blog (Student Loans). Kalen Bruce is the founder of MoneyMiniBlog. His story is simple… he and his wife were $24,000 in debt and became a student of finances to get out. They are now debt-free and building wealth. Kalen shares everything he has learned on his blog, writing informative, entertaining, mini blogs to help you with your finances. Finances can be intimidating, so he keeps his posts short, sweet, and simple. The original post is located here: http://moneyminiblog.com/debt-relief/pay-off-debt-snowball-vs-avalanche Please Rate & Review the Show! Visit Me Online at OLDPodcast.com and Join the Ol' Family to get your Free Gifts! Learn more about your ad choices. Visit megaphone.fm/adchoices

Money Mini Blog's Kalen Bruce talks about the debt snowball vs. the debt avalanche as strategies to get out of debt. Episode 118: How to Pay Off Your Debt: The Debt Snowball vs. The Debt Avalanche by Kalen Bruce of Money Mini Blog (Student Loans). Kalen Bruce is the founder of MoneyMiniBlog. His story is simple… he and his wife were $24,000 in debt and became a student of finances to get out. They are now debt-free and building wealth. Kalen shares everything he has learned on his blog, writing informative, entertaining, mini blogs to help you with your finances. Finances can be intimidating, so he keeps his posts short, sweet, and simple. The original post is located here: http://moneyminiblog.com/debt-relief/pay-off-debt-snowball-vs-avalanche Please Rate & Review the Show! Visit Me Online at OLDPodcast.com and Join the Ol' Family to get your Free Gifts!

Money Mini Blog's Kalen Bruce talks about the debt snowball vs. the debt avalanche as strategies to get out of debt. Episode 118: How to Pay Off Your Debt: The Debt Snowball vs. The Debt Avalanche by Kalen Bruce of Money Mini Blog (Student Loans). Kalen Bruce is the founder of MoneyMiniBlog. His story is simple… he and his wife were $24,000 in debt and became a student of finances to get out. They are now debt-free and building wealth. Kalen shares everything he has learned on his blog, writing informative, entertaining, mini blogs to help you with your finances. Finances can be intimidating, so he keeps his posts short, sweet, and simple. The original post is located here: http://moneyminiblog.com/debt-relief/pay-off-debt-snowball-vs-avalanche Please Rate & Review the Show! Visit Me Online at OLDPodcast.com and Join the Ol' Family to get your Free Gifts! --- Support this podcast: https://anchor.fm/optimal-finance-daily/support

In what order should you pay down your debts? For those working hard to get out of debt, it’s an important question. Often we focus on either the amount of our debt or the interest rates. But what if the interest rate on a loan can change, either because it’s a variable rate or perhaps a […] The post How to Use the Debt Avalanche with Variable Rate Loans appeared first on The Dough Roller.

One of the biggest debates in the personal finance space is about which order to use to pay off my debts. Opinions vary, experiences vary, and tempers flare when this subject is brought up. I think the debate is helpful in some ways but rather silly in other ways. I think it’s a lot easier […]

#153: 3 Debt Elimination Strategies that WORK! Any one of these debt elimination plans will work if you work the plan: Debt Snowball: Pay extra on the debt with the smallest balance. Debt Avalanche: Pay extra on the debt with the highest interest rate. Risk Reduction: Pay extra on the debt with the most risk. This could be back taxes or a loan from your mother (you don’t want to risk the relationship, do you?) Pros and cons: Debt Snowball: You pay more interest than the Debt Avalanche. However, getting a shot of QuickWin has been scientifically proven to keep people motivated to keep working the plan to the end. Debt Avalanche: You pay less interest overall. However, working on a 21% interest rate credit card for over a year tends to wear on a person’s psyche. We begin to believe the process doesn’t work and we quit. Risk Reduction: Taking care of IRS debt first eliminates the possibility of them garnishing your wages (no court process needed). Or you may decide to pay off your parents because the stress of the situation is eating away at you. These cases are not as common (most parents are a bit more forgiving than that) so the benefits aren’t as great as the Debt Snowball or Avalanche. Arm yourself with reminders When we were in debt I would get a punch in the gut every time a statement showed up in the mailbox. Constant reminders wear on us and we become more likely to quit. It is important to stay focused and motivated in our moneyplan. We need to continue stretching every dollar and keep grasping at any opportunity to make more money to throw at our debt. Credit card companies benefit whenever we take our foot off the gas, so we must stick to the plan! Arm yourself with tools to help keep you encouraged throughout the process. Smartphone apps like ReadyForZero send you reminders and encouraging messages. Progress thermometers on the refrigerator or bathroom mirror let you check in on your current status. Finding ways to pay attention will go a long way in your debt elimination process. For example: I look at our mortgage balance a few times a month. Anytime I log onto our bank account to balance our checkbook, I see it. I look at our debt payoff spreadsheet once in a while, just to get my blood pumping. And, of course, I see the new balance at the first of every month after our payment is made. I’ve got my eye on the goal and focused on winning. Above all else: DON’T QUIT Evaluate your situation. Choose the method that works best for you. Above all things - DON’T QUIT! If you want to try one and then switch - go ahead. If the Debt Avalanche isn’t working for you then start attacking your smallest balance first. Everyone’s financial situation is different, so is their debt elimination strategy. The bank has a plan for your money. It’s time to short-circuit that plan and start paying attention, not interest!   Also on this episode: Holla From The Impala - It's awesome to get paid   For more information, visit the show notes at  

#99: UPDATE! Ready for Zero has retired, but the idea they put forth changed my mind about the Debt Avalanche. Ben from Ready For Zero (now owned by Avant) joins me in a conversation about the #1 reason a Debt Avalanche method could actually work better than the Debt Snowball. For more details, visit