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Episode 2989:
Kalen Bruce explores two powerful strategies for paying off debt - the debt snowball and the debt avalanche. By comparing their benefits and drawbacks, this article empowers you to choose the method that aligns with your financial goals and motivation style, whether you crave small wins or want to minimize interest payments.
Read along with the original article(s) here: https://moneyminiblog.com/debt-relief/pay-off-debt-snowball-vs-avalanche
Quotes to ponder:
"If you become debt free, you win. It doesn’t matter which method you used once you are debt free."
"Personal finance is less about the math and more about behavior, habits, and mindset."
"Sometimes the right method may not make the most sense on paper, but if it works, you still win!"
Episode references:
Dave Ramsey's The Total Money Makeover: https://www.amazon.com/Total-Money-Makeover-Dave-Ramsey/dp/1595555277
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Optimal Finance Daily - Financial Independence and Money Advice