It’s time to take a question from one of you! Rachel from Facebook asks, “Is the debt snowball method better than the debt consolidation method?”. Watch as I answer this question and let me know in the comments section below what you think about today’s video!
Start budgeting your money with the FREE EveryDollar budgeting app: https://goo.gl/TzGsSE
Subscribe to my YouTube Channel to stay up to date with my latest videos! http://www.youtube.com/user/RachelCruze?
I just cut off ALL MY CREDIT CARDS!!! Snow ball … Here WE GO!!!
all my cc bills total about 408/month in just interest. my income is fixed and i cannot work to pay off this 15k of credit debt. i am consolidating my debt with National Debt Relief for a monthly payment of $335 for 36 months. it's going to save me about 4k. so i don't understand why consolidation is so bad.
I'm thinking about starting the snowball
At clarence loans we grant all kinds of loan at a very reasonable interest rate. We offer business loans, auto loans, student loans, construction loans, corporate loans, personal loans. For further enquiries send a mail to clarenceloansinvestment@gmail.com
hi i like your post i had some bad debt but i found a site where they help you fix your debt go here check it out http://bit.ly/2yFeIVX
you are very funny
Now I need you to elaborate on why you are giving an ok about consolidation for student loans. I'm crazy buried under them and need to figure out if i just start paying them or consolidate then have just 1 or 2 payments instead of…7….
Rachael, can you please talk about why student loans can be Consolidated???
My heart behavior thank you, Rachel. Glad I clicked on your video, yet again.
The snow ball effect work on paying smallest amount to largest? How about working to pay higher interest first to smallest interest? #askrachel
your app has changed my life! I'm finally on a budget! and it's not restrictive either!
This is a fun one – loved all the asides. LOL. Good advice too! We paid off 2 more debts today.
QUESTION: I have a $10,000 car loan (0% interest) and $30,000 mortgage (3% interest) to pay off. Should I pay extra money to the mortgage each month since it has a higher interest, instead of paying off the lower car debt first? #askrachelcruze
Lol…so agree with no need to marathon. Lol ?
I will be starting to pay new student loans at the end of this year, why is consolidating student debt a good thing? I am doing my best to get rid of any current debt to be prepared for the student debt that will hit soon. Thank you!
#askrachelcruze my husband and I want to establish a budget. only problem were having is that he gets paid on a points system. So, he has to make a certain amount of point to make a good paycheck. sometimes they don't have enough work for him to make the points. how should we budget? help!
Thank you for this. We have been going back and forth on what to do.
We are on the debt snowball. The most fun part besides actually paying off each thing, is DELETING a debtor from your life! I hand write everything and for March, my list of bills is gonna shrink by 3 lines! We filled our emergency fund, and paid off 2 cards! It's such a great feeling!
I got out of debt long before I heard of Rachel Cruze or Dave Ramsey. I did the highest interest rate to lowest interest rate. Why, because I fell victim to one of those introductory credit cards wit 2% interest. That turned into 25% and it was my biggest credit card debt. I used the introductory rate to pay off my taxes. I was not money wise back then.
If you're paying off your credit cards, are you supposed to close them or leave them open? I heard you're not suppose to close them because it will lower your credit score
#ask Rachel Hi Rachel I'm Ethan I have a question what is the difference between the debt snowball ? And debt consolidation ? Have a great day Rachel I'm a huge fan of your videos.
Hi, Rachel!! Love your videos! You could start calling them "Vlogs" if you're looking to combine what you usually call them "video blogs." ??
Wholeheartedly sister! ?