Apr 24, 2020
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Paying off debt is hard. It just is. But if you’re tackling your debt without a …

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Paying off debt is hard. It merely is. Nonetheless for those who occur to’re tackling your debt and never utilizing a plan, you might battle to make any headway the least bit. So how will you acknowledge which of these widespread methods of paying down debt is the very best choice? In the event you occur to’re looking for further fast gratification, the snowball methodology is for you. In the event you occur to’re OK with prepared for long-term outcomes, the avalanche is one of the best ways to go. Have you ever ever had success using each of these methods? We’d like to take heed to about it!

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Comments to Paying off debt is hard. It just is. But if you’re tackling your debt without a …

  • Is one better that the other @thepennyhoarder ?

    lazysaturdays April 24, 2020 11:12 am Reply
  • Debt avalanche worked the best for us. We just paid off my husband’s student loans ($12,000-worth of debt) in 4 years using this method.

    rebekahopeful April 24, 2020 11:12 am Reply
  • @maribel_m9

    miguel_monrroy April 24, 2020 11:12 am Reply
  • @stapashka

    warriorsdad April 24, 2020 11:12 am Reply
  • Debt Avalanche, works for me!

    izu_nwa April 24, 2020 11:12 am Reply
  • How bout you just don’t go into debt…

    itsmidnightrightnow April 24, 2020 11:12 am Reply
  • Im sure they both work, but which one Saves the most money 💰🤔

    bubbabear1313 April 24, 2020 11:12 am Reply
  • @christian.boieeie

    murat.alvarez April 24, 2020 11:12 am Reply
  • We’ve chose the avalanche approach because we felt like we were paying a huge portion of our credit card payment towards interest and weren’t making a dent at debt. We also just did a balance transfer to 0% APR card once we got to a manageable monthly payment over 14 months to pay it off!

    jenwa1979 April 24, 2020 11:12 am Reply
  • @cwhite60

    _adriene18 April 24, 2020 11:12 am Reply
  • High interest rates are nasty 🤢 so using the avalanche debt is the best way to go.

    modernfinance April 24, 2020 11:12 am Reply
  • I personally use a combined method. I pay off my off my smaller credit cards then focus on making double payments on the higher interest rate cards with the extra money

    trinidumpling April 24, 2020 11:12 am Reply
  • @jon1588

    adry8988 April 24, 2020 11:12 am Reply
  • @og.baggedpaki

    mastermind019 April 24, 2020 11:12 am Reply
  • @_aliooops_ Funny.. We were just talking about this lastnight!!

    leahtard45 April 24, 2020 11:12 am Reply
  • @thepennyhoarder well put! And the illustration is quite helpful.

    5tebenz April 24, 2020 11:12 am Reply
  • @tiffany_delima

    jrafaeldelima April 24, 2020 11:12 am Reply
  • If you have multiple credit cards with high interest, like I did, look into a consolidation loan. I started at a higher rate, but as I paid it off my credit score got better and I was able to refinance to a lower rate. Now I only have 1 payment to pay off all my debt.

    txsunshine85 April 24, 2020 11:12 am Reply
  • @jormonrroy

    sandra5307 April 24, 2020 11:12 am Reply
  • @foundaserna

    sikemerna April 24, 2020 11:12 am Reply
  • Wow great ideas !

    rebatesme April 24, 2020 11:12 am Reply
  • I went with the Avalanche method when I was first getting out of debt many years ago. In college I accumulated student loans, a car loan, and of course credit card debt. As you can probably guess, I started with CCs, then went on to the car loan. Finally I paid off my student loans and emerged debt-free so that I could start saving for a house. Now, my mortgage is the only debt that I have and it feels great!

    lovethosetoes30 April 24, 2020 11:12 am Reply
  • @mrshalierivera 🤔

    philjrivera April 24, 2020 11:12 am Reply

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