Brightmoneyco
Uploaded on Jun 15, 2022
Debt snowball Vs. Debt avalanche: What's better? Managing debt can get overwhelming, especially with different minimum payments, juggling cards with the high interest rates, and deadlines stretched across the calendar. Managing your own personal finance is never really a snap. And with credit card debt, the math can get extra-hard too. A systematic method can streamline debt repayments, save you money on interest charges and late fees, and get you out of credit card debt faster. Let's look at how each method works, see which one fits your style, and look briefly at a third way - a data-smart Bright Plan with automatic payments. The debt snowball method targets the lowest balances ● With the debt snowball method, you’ll prioritize cards according to the size of their balance - and quickly build momentum. ● You'll still make minimum payments on all your other cards - but you'll pay more on the card with the lowest balance. It's your first card you'll target with larger payments than the others. ● You’ll quickly have fewer debts and balances to manage, you’ll see progress fast, and you’ll feel real momentum. ● The debt snowball method forces you to focus your attention one debt at a time. You'll also feel a real thrill every time a credit card is paid off. The debt avalanche method targets high interest charges ● With the debt avalanche method, you’ll prioritize credit cards with the highest interest charges. ● But it takes extra math. And it takes more than comparing APRs and interest rates. ● For the mathematically minded,the avalanche method has strong appeal: you're always targeting the highest interest debt. Bright pays off credit card debts automatically ● Bright offers a third way: with a personalized Bright Plan, we can handle your payments for you, finding the fastest, smartest ways to pay off your debts - automatically every month. ● Bright uses a data-smart approach with a new patented system called MoneyScience™. ● With a personalized Bright Plan, we'll analyze your debts, learn about your spending habits and make smarter choices about paying off your cards and loans. ● If you haven't signed up yet, download the Bright app from the App Store or Google Play.
Debt snowball Vs. Debt avalanche_ What's better
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June 2022.
Debt snowball Vs. Debt avalanche: What's
better?
1 Managing debt can get overwhelming, especially with different minimum
payments, juggling cards with the high interest rates, and deadlines stretched
across the calendar.
2 Managing your own personal finance is never really a snap. And with credit
card debt, the math can get extra-hard too.
3 A systematic method can streamline debt repayments, save you money on
interest charges and late fees, and get you out of credit card debt faster.
4 Let's look at how each method works, see which one fits your style, and look
briefly at
a third way - a data-smart Bright Plan with automatic payments.
The debt snowball method targets the lowest
balances
1● With the debt snowball method, you’ll prioritize cards according to the size
of their balance - and quickly build momentum.
2● You'll still make minimum payments on all your other cards - but you'll pay
more on the card with the lowest balance. It's your first card you'll target
with larger payments than the others.
3● You’ll quickly have fewer debts and balances to manage, you’ll see
progress fast, and you’ll feel real momentum.
4● The debt snowball method forces you to focus your attention one debt at a
time. You'll also feel a real thrill every time a credit card is paid off.
The debt avalanche
method targets high
interest charges
● With the debt avalanche
method, you’ll prioritize
credit cards with the
highest interest charges.
● But it takes extra math.
And it takes more than
comparing
APRs and interest rates.
● For the mathematically
minded, the avalanche
method has strong appeal:
you're always targeting the
highest interest debt.
Bright pays off credit card debts automatically
1● Bright offers a third way: with a personalized Bright Plan, we can
handle your payments for you, finding the fastest, smartest ways to pay
off your debts - automatically every month.
2● Bright uses a data-smart approach with a new patented system called
MoneyScience™.
3● With a personalized Bright Plan, we'll analyze your debts, learn about
your spending habits and make smarter choices about paying off your
cards and loans.
4
● If you haven't signed up yet, download the Bright app from the App Store
or Google Play.
Start Now
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