Did you know that there are more than 2 ways to pay off debt? Most of us have heard of the Debt Snowball Method and the Debt Avalanche Method -- but have you heard of the Most-Hated Debt Method? What about the Highest Monthly Payment Method?
In this episode I’m exploring other options and methods when it comes to paying off your debt and what could work for you and your family during your financial independence journey.
You’ve heard Sami say it a million times: “Personal finance is personal”. This philosophy applies at the very start of your debt free journey. Paying off debt is as personal as anything else in personal finance. It’s kind of obvious... because it’s in the name.
That’s why we’re breaking down The Debt Snowball Method v. The Avalanche Method and what method works best with different scenarios. We explain what these two methods are, why each could work for you and more!
In this episode, @winningtowealth shares the ups and downs of his family’s debt-free journey, simple investment tips to reach FIRE, and why financial independence should be considered a form of social activism for POC and allies.
Plus, Michael will walk us through how he and his wife got on the same page about money, how his daughter changed his goals, and the effects COVID has had on his career.
The thing about hiding from your debt is that sometimes we don't even realize that we're actually doing it. We think that the survival mode and the stress of having so much debt is just normal and that everybody lives this way, so we really don't think that it's a big deal. ...but we are in fact actually hiding from our debt. I'll share with you two quick steps on how to stop hiding from your debt!
