The 2 Methods for Paying Off Your Debt FAST!
Автор: Franklyn Rogers
Загружено: 2025-11-14
Просмотров: 11
In this video, I described the two best methods for paying off your debt as quickly as possible.
Method one requires that you focus on the debt that has the highest interest rate first, minimizing all your monthly payment payments on all the others until you get the highest interest rate debt paid off. Once it’s paid off, then you can move onto the next highest interest rate debt and so on.
Method two requires that you focus on the debt that has the lowest balance. Minimize all the payments on all the other debt, and pour all your extra cash into paying off the debt that has the lowest balance.
These methods are referred to the snowball method meaning that you gain traction as you focus on one debt at a time. No matter which method you choose it’s imperative that you minimize the payments on all the other debts until you have paid off the debt that you’re currently working on.
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