Monday Money Tip

#121: How the Debt Snowball Works


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About the Episode: 

  • In this episode, we’re explaining how the debt snowball works for paying off debt. Should you focus on the highest interest rate or smallest debt? We’re breaking down how it all works. 
  • In our Current Money Events segment, we’re talking about finding and funding your dreams.
  • Our success story comes from Todd, who shared that after 3 months of attending our Financial Learning Experience, he’s paid off his car loan and has one month's expenses saved up! 

Resources:
OXEN: The Key to an Abundant Harvest Online Study
Next Steps Section
BOOK: 20/20 MONEY: Gaining Clarity for Your Financial Future
IWBNIN Ladder
Annual Credit Report
TOOL: Debt Freedom Date Calculator

Related Monday Money Tip Podcast Episodes:
Episode 19: Is All Debt Bad?
Episode 28: 8 Ways to Speed Up Debt Elimination 
Episode 61: The I Was Broke. Now I’m Not. Ladder - Explained
Episode 84: Is All Debt Equal?
Episode 109: Making Your Student Loans Disappear
Episode 117: Celebrate Along the Way

Email [email protected] to ask questions or share success stories.

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Monday Money TipBy Joe Sangl

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