Snowball vs Avalanche! Which Debt Payoff Method Is Right For You? | Clever Girl Finance

Are you trying to determine which debt pay-off method is right for you? In today’s video, let's discuss the differences between the snowball method and the avalanche method - two popular and effective repayment methods to help you decide which one is best for you!

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[Clevergirlfinance]

What debt repayment method has worked for you? Share in the comments and thanks for tuning in!

[daisy_naples]

I used the snowball method and it worked perfectly! I’m now debt free and it’s a blessing. It feels so good!

[krissh]

I used the snowball for the last 2 years and have paid off over 10k in debt!! Now I’m saving to buy my first home 😊

[e.sowell]

I used the snowball method and having a visual of my debts (listing them on a large sheet of paper and putting it on my wall) helped me stay motivated. It felt so good crossing off those debts and I cried at the progress I've made!

[vcp]

Yassss 👏🏾 debt repayment content is what I most need right now! Thank you, Bola! 👏🏾

[barbarafallin]

I combined both methods, my card had the highest interest, and my car loan has the lowest interest, I paid off my credit card of 10, 000, now my car will be paged off in 7 months

[carolineogwang]

I am in the process of paying off debt and snow ball method works well. But one must avoid getting more smaller debts. Thank you for the wisdom you share here 🙏

[dorcasmbuve]

This is great am using snow ball to pay my debts off and save money at the same time.

[crysirichout]

Thank u girl..im using your channel to pay debt...save on cash

[karenwilliams]

I am presently trying the snow ball method. Paying more than to the minimum amount on my credit card debt

[PearlPugh]

I used the snowball method. Debt free except for home. At 69, not a high priority right now. Increasing available savings. House is increasing in value with inflation.

[kimberlycoltrainrsrccr]

I'm using the snowball method. I also am on the IBR w my student loans but the blessing is that it's using my income pre pandemic and I don't have to recert til Dec, 2024 & the interest is being paid by DOE so any $$ is going straight to principal.

So what I've done is put them all in order smallest to largest (because they aren't all one big sum, but smaller sums by disbursement). My IBR payment is $0 (so I'm actually too broke to pay😂) so I'm throwing the extra $$ i have to the smallest because it's all going to principal until I recertify.
I don't qualify for the other programs, but it's good to see the balances decrease😊

[MsTori_boss]

My lowest debt was both snowball and avalanche. It had a high interest rate on debt.

[HelloMissBak]

Always a pleasure seeing Bola's face :)

[jacintamuli]

Such a good idea .I think avalanche will work for me.