How To Pay Off Debt (Debt Snowball vs Debt Avalanche)

In this video I show you how to pay off debt using the Debt Snowball or the Debt Avalanche method.

There are two fundamental differences between the Debt Snowball and the Debt Avalanche methods, which we go over in this video.

Essentially, the Debt Snowball method has you paying off your debt in order of smallest amount owed to the largest amount owed regardless of interest rate.

The debt Avalanche, however, has you paying off your debt from highest interest rate to lowest interest rate, regardless of amount owed.

There are pros and cons to both, and I will show you in a real Excel spreadsheet how the debt snowball and the debt Avalanche will help you pay off debt!

Make sure you watch until the end of this video to fully understand how to pay off debt using the Debt Snowball and Debt Avalanche strategies!

SPREADSHEET USED:
https://www.vertex42.com/Calculators/debt-reduction-calculator.html

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Видео How To Pay Off Debt (Debt Snowball vs Debt Avalanche) канала Marko - WhiteBoard Finance