Welcome to episode #7 of The Debt Free Dad Podcast. So you want to pay off debt, so what’s the best and fastest way to make that happen? Find out in today’s show, stay tuned.
In this show, we’re going to go through the conventional methods people are using to get out of debt. We’ve used some of these methods, most of them don’t work, and only a few have proven to be successful. A big part of getting out of debt is paying it off, and if you choose the wrong approach, that could keep you in debt longer than you have to be, which could cause you more stress and frustration and could even cause you to quit. We don’t want that for you. All three of us have paid off a considerable amount of debt successfully, and the methods we share have helped people save and pay off millions of dollars.
What You’ll Learn
What's worked and hasn't worked for us. (Learn from our mistakes!)
Demystify some of the highly marketed methods. (But do they work?)
Studies show that this is the MOST effective way to pay off debt. (Find out what it is.)
Question of the Show "Hey Brad, I am paying off my debt using the debt snowball method. I have two debts that have very similar balances due, only separated by about $300. The higher of the two has the highest interest rate. Would it be ok to flip these two and pay off the higher interest rate first?"
