Debt Snowball vs. Debt Avalanche Approach To Paying Down Debt (Bestie) #297

How to Money

iHeartPodcasts

Investing, Education, Business

4.6 • 3.2K Ratings

🗓️ 25 December 2020

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

What is the best way to pay down debt? Americans are in tremendous amounts of debt (think over 400 billion on just credit cards alone)! Not only is this debt keeping folks from reaching their financial goals, but it’s also taking a toll on the mental health of borrowers. Knowing the best strategy to get out of this debt is a big deal and could be the difference between living paycheck to paycheck or achieving financial freedom. Listen as we cover both approaches so you can decide which is better for you: the debt snowball (popularized by Dave Ramsey) and the debt avalanche (also known as debt stacking).

During this episode we enjoyed a Maple Vanilla Copra Kai by Southern Grist Brewing. And as we’re looking forward to kicking things off with a bang in 2021, we could really use your help to spread the word- let friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money in these difficult times!

Best friends out!

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Transcript

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0:00.0	What's up? This is Ryan Hollins 10 year NBA vet and current analyst for the Houston Rockets.
0:04.9	And I've got a new podcast called NBA Rookie Life, given you weekly news, analysis,
0:09.7	and an inside look into the 2022 draft class. This rookie class is really so bad.
0:15.6	Each week, I'll be breaking down the best rookie performances, as well as getting behind the
0:20.4	scene stories and welcome to the league moments that make NBA Rookie Life so crazy.
0:26.1	Listen to NBA Rookie Life with Ryan Hollins on the I Heart Radio app, Apple Podcasts,
0:31.7	or wherever you get your podcast. In 1968, five black girls
0:36.8	were picked up by police after running away from a reform school in Mount Meg's Alabama.
0:42.3	I'm writer and reporter Josie Defi Rice, and in a new podcast, I investigate the abuse
0:47.6	that thousands of black children suffered at the Alabama industrial school for Negro children,
0:53.2	and how those five girls changed everything. Listen to unreformed on the I Heart Radio app,
0:59.9	Apple Podcasts, or wherever you get your podcasts.
1:04.8	In 1980, cocaine was captivating and corrupting Miami. The car kills, they just killed everybody.
1:10.9	It was hell. Setting an aspiring private investigator on a collision course with corruption
1:15.7	and multiple murders. The detective agency would turn out to be a front for our drug pilot,
1:20.3	would claim he did it all for the CIA. I'm Lauren Bright-Pacheco. Join me for murder in Miami.
1:25.9	Talk about walking into the devil's den. Listen to murder in Miami on the I Heart Radio app,
1:30.9	Apple Podcasts, or wherever you get your podcasts. Joel, how's it going, buddy?
1:36.0	I'm good, man. How are you? I'm doing pretty good, but I want to go ahead and quickly say,
1:39.4	Mary Christmas to you, Mary Christmas to all of our listeners out there. We are releasing an
1:44.0	episode on Christmas Day. We have not forgotten about you, but it's not a brand new episode,
1:48.7	and it's also not a Friday flight episode, and we wanted to quickly address that with folks.
	...

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