If you’re looking for a way to eliminate debt permanently, the debt snowball plan could be the right choice.
The Debt Snowball Method is a financial tool that you can use to find out if your debt is high-paying.
We faced two choices years ago: paying off debt, or investing. We chose to pay off debt.
We did not invest any money in our business. TFSA and RRSPPaying our mortgage was a top priority.
Related: How we paid off our mortgage in just five years
While we were grateful for some support from readers, it is not every day that we regret our debt repayment plans.
My point is that you can’t always listen to what others tell you to do with your money.
If you have debt, no matter how small or large, you need a plan. Student Loan, car loan, MortgageMultiple, or a combination Credit card debts.
Today I’d like to discuss the debt snowball technique for those new to budgeting.
It is my hope that you will find it useful in gaining an understanding of another option to repay your debt.