Debt Snowball vs. Debt Avalanche: Which is the BEST Way to Pay Off Debt?

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/ Learn more about your ad choices. Visit megaphone.fm/adchoices