How to Get Out of Debt

Debt is the single biggest obstacle between most Americans and financial freedom - and getting out of it is entirely learnable. The Vault Library has vetted the free YouTube channels that teach real debt payoff strategy: the debt snowball, the debt avalanche, negotiating with creditors, and the mindset it takes to stay the course.

What You Need to Know

• ✓List every debt with its balance, minimum payment, and interest rate
• ✓The debt avalanche pays the highest interest debt first - mathematically optimal
• ✓The debt snowball pays the smallest balance first - psychologically powerful
• ✓Stop adding new debt while you pay off old debt - this seems obvious but it is hard
• ✓Every dollar above the minimum on a debt accelerates the payoff exponentially