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If you are in debt then this is the episode for you. I get the question all the time I am in debt what should I do? The answer is…PAY OFF that debt and in this episode my guest Deacon will show you how.
Mentioned In the Episode:
Well Kept Wallet
Deacon and his wife paid off a ton of debt in a short period of time, and now he teaches other people how to do the same.
There is the Debt Snowball approach and the debt avalanche approach
The debt snowball approach is where you put in order your debt from smallest to highest in terms of dollar amount you owe, and you pay it off. The benefit of this strategy is you get some quick wins
The other way of doing it is called the debt avalanche, which is where you put your debt in order from highest interest to lowest interest and you pay off the highest interest first. This saves you money but it isn’t as gratifying.