Debt Snowball vs Debt Avalanche - Paying Off Debt

Paying off Debt: Debt Snowball vs Debt Avalanche

[{"selector":"#anim-e1ac0a50-9d57-4a51-9a83-57f189564572","keyframes":{"opacity":[0,1]},"delay":200,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] THE MOM TROTTER THE MOM TROTTER read more here

[{"selector":"#anim-16e45dec-6003-4edc-9d43-9aefce808dff [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] There are 2 ways of paying off debt that stand out: the debt snowball & the debt avalanche. Which one is right for you? I'll help you compare 👉 read more here

What is the Debt Snowball?

[{"selector":"#anim-16f49e3e-c090-4516-a66f-6638af8ed2f4 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] It focuses on the psychological aspect of paying off debt by giving you a boost in confidence & a win as quickly as possible. read more

How does Debt Snowball work

[{"selector":"#anim-9082d5a9-6290-418a-a87d-654274f0d725 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.240844612732676%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] You'll pay off debts in the order of smallest to largest. Make the minimum payments for all of your debts each month then focus any extra money you have on the smallest debt. details here

What is the Debt Avalanche?

[{"selector":"#anim-537a1bc4-4868-4862-9bf6-9a7aae5962d6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.882660350500934%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Where the debt snowball makes debt into a mental exercise the debt avalanche makes it into a pure and simple math problem. read more

How does Debt Avalanche work

[{"selector":"#anim-361f9785-036a-48bf-8799-0615a3add7f8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.240844612732676%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] You'll work on paying off the debt with the highest interest rate first. This may mean that you have to wait longer for your first debt payoff win. learn more

What Method Did We Use To Pay Off Debt?

[{"selector":"#anim-50416ddd-0327-43bc-a10a-cbf2a245b46e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Honestly, we are using a mix of both methods, and it is working very well for us. We started off with the Debt Snowball & later decided to do Debt Avalanche & pay off our student loans. learn more

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[{"selector":"#anim-0b49a388-32d2-4a59-a336-5af591a22c33 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-31.240844612732676%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] tap here for the detailed guide on Debt Snowball vs Debt Avalanche Full List Here

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