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Debt Avalanche vs. Snowball—Which Payoff Plan Wins? Ep25

Debt Avalanche vs. Snowball—Which Payoff Plan Wins? Ep25

Good Money Moves
• 19 min
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In Episode 25 of Good Money Moves, Jenna Taubel, dives into the world of debt repayment strategies with Kanwar Singh, our branch manager at First Alliance Credit Union. We explore the debt snowball and debt avalanche methods, two popular approaches to tackling debt. The debt snowball focuses on paying off smaller debts first to build momentum, while the debt avalanche targets high-interest debts to save money over time. We discuss the pros and cons of each method, how they impact credit scores, and share personal experiences to help you decide which strategy aligns best with your financial goals. Whether you're dealing with credit card debt, student loans, or other financial obligations, this episode offers insights to help you stay motivated and make informed decisions on your journey to financial freedom. First Alliance Credit Union is federally insured by NCUA and is an Equal Housing Lender.