The Money Podcast Fastest Way to Pay Off Debt
Jun 29, 2025
Discover innovative ways to speed up your debt repayment! The discussion highlights prioritizing high-interest debts and managing spending habits. Learn how to boost your income effectively while paving the way for long-term wealth. Tune in for fresh strategies to take charge of your finances and break free from the shackles of debt!
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Pay Highest Interest Debt First
- Pay off your highest interest debt first to reduce the overall compound cost.
- Avoid spreading payments evenly; allocate most funds to the highest interest debt and minimums to the rest.
Save and Invest Before Spending
- Save money immediately when you earn it before spending.
- Automate savings and investments via direct debits to build wealth effortlessly.
Avoid Emotional Spending
- Stop emotional and unnecessary spending triggered by highs or lows.
- Use delayed purchase techniques like price comparison to avoid impulse buys.