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Have you ever heard of the Debt Snowball?

If so, you know that it’s a debt-payoff model made famous by Dave Ramsey. If you haven’t heard about it, you’re about to!

Either way, you might be wondering, “Does it really work?”

Absolutely!

I’ve personally used it to pay off several debts of my own and I’m excited to see you do the same.

So today, I want to give you a crash course on what the Debt Snowball is, how it’s used, and how it can work for you. Plus, I’m giving away a free budget template to help you get started even faster!

Learn all about it on today’s episode of the Daily New Year’s Podcast.

Show Notes

  • What is the Debt Snowball? – [03:37]
  • How does the Debt Snowball Work? – [04:36]
  • The Debt Avalanche vs. The Debt Snowball – [05:46]
  • Does the Debt Snowball Work? – [10:20]
  • Use Undebt.it to Track Your Progress – [12:58]
  • Be Patient and Have Fun – [17:15]
  • Starting a Budget with the Daily New Years Budget Template – [19:57]

Quotes from this Episode

“Personal finance is about 80% behavior. It’s only about 20% head knowledge and math. The problem with your money is not your math. … Debt is not a math problem, if it were, you wouldn’t be in debt in the first place. It’s a YOU problem.” — Dave Ramsey

“Anything worth having is worth working hard to have.” — Austin Bollinger

Links and Resources from this Episode

photo of a person filling out the Daily New Years budget planning sheet

Need help getting started with a budget? I’ve got you covered there too!

Download the Daily New Years budget template. It comes prebuilt to get you budgeting faster. There’s a simple version for new budgeters, and there’s an advanced version for those who want detailed, granular tracking capabilities. Learn how to use it here.

Access it today!

Disclaimer: Some of the links in this post are affiliate links. If you click on the link and purchase the item, I will receive an affiliate commission at no extra cost to you. All opinions remain my own.

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