The optimal payment path without extra payment is: Furniture Credit Card MC Credit Card VISA Car Loan #1 Car Loan #2 1st Mortgage The debt snowball will pay off in 15.71 years. The interest savings is $105,899. The optimal payment path with $200 extra per month is: Credit Card MC Furniture Credit Card VISA Car Loan #1 Car Loan #2 1st Mortgage The debt snowball will pay off in 14.04 years. The extra $200/month saves an extra $82,475 for 11.389% yield. See my YouTube channel for free videos.
Beware of high cost useless mortgage accelerators. Check my YouTube channel for free videos on powering down your debt with an automated spreadsheet. There is no magic. The only way to pay less interest is to pay more principal. Anyone who says otherwise is lying or financially illiterate.
UltimateBargains 2 months ago
Beware of high cost useless mortgage accelerators. Check my YouTube channel for free videos on powering down your debt with an automated spreadsheet. There is no magic. The only way to pay less interest is to pay more principal. Anyone who says otherwise is lying or financially illiterate.
UltimateBargains 2 months ago
That's awesome! This method is often referred to as powering down your debt.
Stay committed and disciplined to your plan and it will happen. And what a great feeling it is to be completely debt free. I've been so for 20 years.
walkconfidently 7 months ago
i'm doing this, snowball effect and will be debt free in 4 yrs.
DanielOnGuitar 7 months ago