Debt Snowball: Tackling Your Debts Head-On
List all debts (except for the mortgage) from smallest to largest, and start paying them off in that order, while making minimum payments on the rest. This method offers psychological wins by clearing smaller debts quickly, creating momentum and motivation to tackle larger debts.
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I recommend this video because I believe it offers the simplest and most effective approach for anyone looking to build wealth. I truly believe that financial independence is one of the greatest goals one can aspire to achieve!
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