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: https://youtu.be/8cG4RvvWhTU

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

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