You’ve heard Sami say it a million times: “Personal finance is personal”. This philosophy applies at the very start of your debt free journey. Paying off debt is as personal as anything else in personal finance. It’s kind of obvious... because it’s in the name.

That’s why we’re breaking down The Debt Snowball Method v. The Avalanche Method and what method works best with different scenarios. We explain what these two methods are, why each could work for you and more!

IN THIS EPISODE, SAMI SHARES ABOUT:

• The Debt Snowball Method

• The Debt Avalanche Method

• The positives and negatives of both methods

• Why you may want to chose one or the other

• The benefits of making debt payoff personal to your situation

• Questions:

  1. Do you need a quick win with a small balance debt gone?

  2. Do you need to save money with the higher interest gone?

  3. Do you need a certain debt gone simply because it causes you stress?

  4. Do you owe family or the IRS?

  5. Do you have a deadline? Are you having a baby, moving to a different state, or changing careers?

• Play around with the timelines + the math. Then make out your own custom debt payoff plan.

RESOURCES MENTIONED:

• Holiday Budget Guide *save 35%

• [Freebie] My Goals Timeline

• [Full Budgeting Worksheets] Digital Budgeting System

• [Debt Calculator] Easy Budget

• Get on the 1:1 Coaching waiting list

• —> Sami’s YouTube Channel