1/10/23

Finances - Day 7

Debt Consolidation:

What is the smartest, fastest-proven way to pay off debt?🧐

It’s no secret: The Debt Snowball!!!!!❄️

This is the method Sam Warshaw and I used to pay off over $460,000 of debt.

Well, first off, It’s FREE. Also, it utilizes the truth of behavioral psychology, AND you learn how to manage your money for good. Win, Win, WIN!!!!!!!

Here’s how to do it:

First, list all your debts from smallest to largest (interest rates don’t matter here).

Second, Make minimum payments of everything to keep debt collectors from coming after you.

Third, take any extra money and throw it at the smallest debt. When the smallest debt is gone, take that freed-up money and put it on the next smallest debt. Repeat, repeat, repeat until you’re DEBT FREE!!!! ⛷⛷⛷

This is a great time to cut expenses and pick up a side hustle to put more money towards your snowball and make it go even faster. 💨💨💨

@jadewarshaw

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Finances - Day 6

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Finances - Day 8