Frugal Friends Podcast Which Debt Should You Pay Off First?
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Aug 8, 2025 Exploring effective debt management strategies, the hosts discuss prioritizing repayments to regain peace of mind. They delve into popular debt repayment methods, like avalanche and snowball, and emphasize the need for personalized approaches. Listeners hear about the emotional journey of debt payoff, complete with humor and real-life experiences. They highlight the necessity of balancing debt repayment with saving and investing, and the unexpected benefits of achieving financial freedom.
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Use The Debt Avalanche To Cut Interest
- Make minimum payments on all debts and use extra funds to attack the highest APR first.
- This debt-avalanche method reduces total interest paid by prioritizing the costliest balances.
Avalanche Often Saves Money And Time
- Tackling the highest-interest loan first typically saves hundreds to thousands in interest over time.
- Saving interest also slightly shortens the overall payoff timeline compared with other orders.
Start Small To Build Payoff Momentum
- List debts from smallest to largest and throw extra money at the smallest until it's gone.
- Use those quick wins to build momentum and stay consistent with repayment.
