1 / 6

Debt snowball Vs. Debt avalanche_ What's better

Debt snowball Vs. Debt avalanche: What's better?<br>Managing debt can get overwhelming, especially with different minimum payments,<br>juggling cards with the high interest rates, and deadlines stretched across the calendar.<br>Managing your own personal finance is never really a snap. And with credit card debt, the<br>math can get extra-hard too.<br>A systematic method can streamline debt repayments, save you money on interest<br>charges and late fees, and get you out of credit card debt faster.<br>Let's look at how each method works, see which one fits your style, and look briefly at<br>a third way - a data-smart B

brightmoneyco
Download Presentation

Debt snowball Vs. Debt avalanche_ What's better

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. We build ALife After Debt Technologyto knock out debtand build credit. June 2022.

  2. 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. 1 Managing your own personal finance is never really a snap. And with credit card debt, the math can get extra-hard too. 2 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. 3 Bright Journey and Products 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. 4

  3. 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. 1 2 3 4

  4. 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.

  5. 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. 1 2 3 4

  6. Start Now

More Related