2989: How to Pay Off Your Debt: The Debt Snowball Vs. The Debt Avalanche by Kalen Bruce of Money Mini Blog

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 31 December 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2989: Kalen Bruce explores two powerful strategies for paying off debt - the debt snowball and the debt avalanche. By comparing their benefits and drawbacks, this article empowers you to choose the method that aligns with your financial goals and motivation style, whether you crave small wins or want to minimize interest payments. Read along with the original article(s) here: https://moneyminiblog.com/debt-relief/pay-off-debt-snowball-vs-avalanche Quotes to ponder: "If you become debt free, you win. It doesn’t matter which method you used once you are debt free." "Personal finance is less about the math and more about behavior, habits, and mindset." "Sometimes the right method may not make the most sense on paper, but if it works, you still win!" Episode references: Dave Ramsey's The Total Money Makeover: https://www.amazon.com/Total-Money-Makeover-Dave-Ramsey/dp/1595555277 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This episode is brought to you by Curry's Business.
0:03.1	Whether you run a bustling cafe, a busy office or an inspiring classroom,
0:07.2	Curry's Business has the tech for your 2025 business plans.
0:11.0	Upgrade with their January epic deals with up to 30% off hundreds of products,
0:15.6	from laptops to TVs, connected mobile to coffee machines.
0:19.4	Shop at business.curries.co.com.
0:22.0	Visit your local hub or call their UK-based specialist business centre.
0:26.1	Curry's business, powering your business in 2025.
0:30.4	This episode is brought to you by Shopify.
0:33.0	Looking to start a side hustle or become your own boss?
0:35.8	Do it with Shopify.
0:37.0	Whether you're selling succulence or stilettos,
0:39.3	Shopify has the industry leading tools to help you create, control and grow your own business.
0:43.9	So get serious about selling and get Shopify today.
0:47.0	Sign up for a £1 per month trial period at Shopify.com.
0:50.7	Or lowercase.
0:53.2	That's Shopify.coteeK slash special offer or lowercase. That's Shopify.com.com slash special offer.
0:56.6	This is optimal finance daily. How to pay off your debt. The debt snowball versus the debt
1:03.6	avalanche by Kalin Bruce of MoneyManyBlog.com. If you want to be debtfree, you need a strategy. The average U.S. household
1:14.7	has $54,000 in credit card debt. If you're in debt, you really need a plan. The good news is that you
1:23.2	have more than one option. There are several ways to get out of debt, but the two most used ways
1:29.5	are called the debt snowball and the debt avalanche. Let's look at the differences and see what
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Optimal Living Daily LLC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Optimal Living Daily LLC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.