Skip to site content
The Show

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!

In this episode, you’ll learn:

  • Why America has a debt problem
  • The most common types of debt that derail financial goals
  • The difference between the Debt Snowball and Debt Avalanche approaches
  • How interest rates make all the difference when creating a debt re-payment plan

Research and resources from this episode:

Enjoy the Show?

Categories

Tags

Where You Can Watch and Listen:

Subscribe on these platforms or wherever you listen to podcasts for new episodes every Friday, live streams every Tuesday at 10am CT, and new highlight clips throughout the week.

Related Content

Free Resources

Financial Order of Operations®: Maximize Your Army of Dollar Bills!

Here are the 9 steps you’ve been waiting for Building wealth is simple when you know what to do and…

View Resource

Wealth Multiplier By Age

How much to save every month to become a millionaire.

View Resource

Car Buying Checklist

Here’s how to buy a dependable car that won’t break the bank.

View Resource

Articles

How To Pay Off Debt the Right Way

, , ,

Read More

At Age 50, Did Brian Pay Off His Mortgage or Does He Still Have a Mortgage?

, ,

Read More

How Drastically Should You Tackle $60,000 in High-Interest Debt?

, ,

Read More

Financial FAQs

Courses & Tools

How about more sense and more money?

Check for blindspots and shift into the financial fast-lane. Join a community of like minded Financial Mutants as we accelerate our wealth building process and have fun while doing it.

https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-book.png

Millionaire Mission (Brian’s Book)

Buy Now
https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-math.png

Know Your Number Course

Buy Now
https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-pencil.png

The Money Guy Net Worth Tool

Buy Now

Recent Episodes

It's like finding some change in the couch cushions.

Watch or listen every week to learn and apply financial strategies to grow your wealth and live your best life.

FULL WhyAmericansAreBroke A

Why Americans Are Actually Broke! (2024 Edition)

Watch Now
maxresdefault 3

Is the Economy DOOMED? (And What to Do About It)

Watch Now
FULL AreYouOnTheMilllionaireTrack A

Are You On Track to Becoming a Multi-Millionaire? (Don’t Miss These Important Milestones!)

Watch Now