Money Management for Young Adults: From Your First Paycheck to Your First Million (Invest Now Play Later Series) by Luke Villermin

Author:Luke Villermin [Villermin, Luke]
Language: eng
Format: epub
Tags: Money Management for Young Adults
Publisher: Play Later Publishing
Published: 2023-05-12T22:00:00+00:00

At the end of the day, which debt reduction method you choose will be dependent upon your personal situation and whether you feel confident in your ability to redirect a sizable portion of your budget toward paying off your debt. Another note: it is recommended that neither the avalanche or snowball method should be used for mortgages (loans used to purchase a house), so if you have one, exclude it from the list. The Debt Repayment Worksheet at the end of this chapter will assist you in making your own game plan.

Last, it’s important to recognize that neither the snowball or the avalanche method will improve your financial situation if you continue adding to your debt, particularly credit card debt. Speaking of credit cards…

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