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How to pay off your debt! 📉💰 1️⃣ Debt Snowball method How: pay extra to smallest debt first, then move onto next highest, and repeat Motivation: quicker wins 2️⃣ Debt Avalanche How: pay extra to debt with highest interest rate Motivation: saving extra on interest 3️⃣ Debt Cash Flow How: pay extra to debt with highest monthly payment Motivation: freeing up a large chunk of cash each month 4️⃣ Minimum payment only, invest the rest How: if you have debt below 4% interest, you can switch gears to
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TikTokcallmekevy
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If you do these 5 things,you’ll win with money 100% of the time. #debtpayoff #debtfree #budgeting
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TikTokdaveramsey
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Minimum payment divided by balance. This tells you which debt frees up cash fastest. If I follow this instead of snowball, I’m out of debt 5 months faster. Because I’m attacking what’s actually draining my income. This is the same sheet I used to organize it” step 1 link in the bio. #personalfinance #creditcarddebt #moneytips #financialfreedom #debt
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TikTokdebtefficiency
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