How to Use the Avalanche Method to Pay Off Debt

You’re gonna pay off debt—it’s official. But how you approach it can greatly impact how much money you pay in additional interest. Learn how the Avalanche Method of debt payoff is the ultimate way to save the most while shaking off that debt. Learn about the Snowball Method:    • The Fastest Method for Eliminating Debt: T...   Timestamps: 0:00 Intro 0:25 What is the Avalanche Method? 0:45 Should I Snowball or Avalanche? 1:10 Step 1: Create a Budget 3:01 Step 2: Make Your Monthly Minimum Payments 3:38 Step 3: Arrange Debts by Interest Rate 4:16 Step 4: Send “Leftover Dollars” to First Debt 5:43 Step 5: Pause and Reevaluate 6:56 Step 6: Pursue Next Debt with “Leftovers” 8:04 Step 7: Continue Until Debt-Free! 9:47 What If I Had Used the Snowball Method? 10:58 How to Use YNAB’s “Loan Planner” Tool 11:44 YNAB Win! 12:18 Outro Sign up for a free trial! - https://www.youneedabudget.com/ Check out our book! - https://www.youneedabudget.com/ynab-t... __________ Sign up for YNAB’s weekly email newsletter with the week’s best budgeting wisdom and inspiration! https://www.youneedabudget.com/weekly... __________ Come say, "Hi!" on social: Facebook:   / iynab   Instagram:   / youneedabudget   Twitter:   / ynab   Listen to The You Need a Budget PODCAST here: https://www.youneedabudget.com/podcasts/ And read our BLOG here: https://www.youneedabudget.com/blog/ #budgeting #youneedabudget #ynab