Wealthy Rookie - Personal Finance Coach

Are you overwhelmed with what do to with your debt? Figuring out which debt elimination strategies work best for you is key.

Most common debt repayment strategies:
1️⃣ The snowball ❄️ method (the psychological happy strategy): Pay off your debts starting with the ⬇️ smallest balance and work your way toward the largest. Still make the minimum the minimum payments on the rest. Repeat Until Each Debt Is Paid Off.

2️⃣ Debt Avalanche ⛰️ (the mathematically correct strategy): Pay off your debts starting with the ⬆️ highest interest rate and work your way toward the lowest. Still make the minimum the minimum payments on the rest. Repeat Until Each Debt Is Paid Off.

The debt avalanche method may save you more money in interest over time, whereas the snowball strategy offers the motivation of watching your smaller debts get quickly eliminated.

Whatever method you choose, just start!

Tell me which method do you prefer? ❄️ or ⛰️?

➡️➡️ If you are not sure where to start, book a 1:1 coaching call with me, link in Bio.

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