How To Pay Off Credit Card Debt FAST
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- เผยแพร่เมื่อ 19 ต.ค. 2024
- In this video, we talk about how to pay off credit card debt fast using the debt snowball method or the debt avalanche method. These debt payoff strategies work for credit card debt but they also work for those asking “how to pay off debt” for other debt as well. Credit card debt affects millions of people, so it's important to know how to pay off credit card debt using the tips in this video.
The debt snowball method and the debt avalanche method are very useful debt payoff strategies the can help you to pay off credit card debt fast. It takes a lot of effort, but budgeting to cut back on expenses and increase income will be important to use these strategies. You want to be able to attack high interest debt with any extra money that you have to get debt free!
I hope this video helps anyone that is looking to get debt free from credit cards!
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Daniel Braun is not a financial advisor. This video is for entertainment and educational purposes only, it is not financial advice.
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You are a gem to all young people .... thanks for sharing
Thanks so much man! Appreciate it!
I'm 29, had 100K in debit. Medical bills and such. Paid that all off. Got 3 cards now. Limits are low but oh well. Secured Navy Federal graduated that card to 2000 limit from 200, secured discover and just graduated thjat to 2000 from 500, and a chase freedom flex that is a 2200 limit. Overall I'm happy. I pay them all off before due date / statement date and I've gone from a sub 500 to a 750 and it's helping me out a lot!
My brain tells me to go for those higher APR cards first but I’m now in the midst of the snowball method and honestly, I’m finding more success with it! Anyways great video, Daniel as always :)
Great video Daniel! As awesome as credit cards are, none of that matters if you're paying huge amounts of interest. I'm personally a fan of the snowball method because of the psychological aspect
Absolutely love watching your videos! I have been obsessed with learning about finance and credit cards!
Hey Daniel, cool video.
13:20 so where is the video about balance transfers? I searched your channel but couldn't find anything, at least by looking at the titles.
Thanks.
Really great tips! I haven't read many financial books, but a few and they touch upon this stuff. The one that I never would have thought of or thought you could do is calling the credit card company and trying to lower the interest payment or threatening to switch to a different company that doesn't have interest fees for the first year (or something along those lines).
Learned so much about finance and credit cards on your channel, thanks Daniel.
Such good info! New subscriber! ☺️ This and your other videos will help others understand more! Thank you. 🌻
your editing has improved drastically! i know nothing about credit cards yet you still have me engaged the entire time 😆
Very informative! Definitely a game plan this gave me a lot of confidence to tackle my 9,000$ of debt thanks !
Hi Daniel. I hope that people who are burdened by debt, or who are headed in that direction, find your video. It contains very solid information that they’d find useful. BTW, I’m in the avalanche camp. Take care.
Some good information and tips here I've used the snowball method I think it works the best
Sometimes choosing the psychological option can be better to keep someone on the debt payoff path, even if it’s not the best method financially
Good video Danny. As usual though, it's important to follow the basic rule...don't charge what you can't or think you may not be able to payoff in full. Excellent video.
Thanks man! And absolutely, that's rule number 1! Appreciate the support as always 👍
Its all about giving yourself that win and getting momentum rolling.
Increasing your monthly income and set auto transfer from checking to credit card account also helps.Many people carry balnce because they don't have enough money to pay off so having side part time job helps .
When you said “but you know what also makes sense on paper” I immediately thought “smashing the like button for the YT algorithm?” 🤣🤣🤣. My brain is ruined. Do you know how many times you said the word “debt” in this video (I don’t 😂)? Very good video as always (hopefully you understand the humor behind my comment).
The psychological aspects of investing is one of the most important parts when it comes to choosing how to save/ invest. Great video as always
Informative sharing and giving my support.
Can you make a video regarding the Nrewards card from Navy Federal please ?
W video, it's important how to get out of debt as well as preventing entering it
What does W video mean?
@@mitchell.9632 W stands for win, as in its a good video, it has a positive connotation
@@reinaldomartinez13 Ah; The only time I saw a W listed by it self was the themed W Hotel that Ben as formerly known as that the The Credit Shifu did.
Great video! Good job
Thanks so much, glad to hear you liked it!
Hey Daniel... I’ve had this card for 1 year. I was recently invited to apply for the platinum (pre approved)-should I apply being that I don’t have the Amex gold yet? Does order matter?
Order does not matter, just make sure the card you are receiving, fits your lifestyle
I will pay off my
Discover credit card debt $1700
by the first week of February
Great video
For those who are looking to pay down debt but are hesitant to forego putting their spend on credit cards because they value the security and purchase protections they afford, the Charles Schwab Bank Debit card offers: extended warranty (with an extra hoop to jump through), purchase security, price protection, travel accident insurance, and travel emergency assistance.
Get a zero APR card, put all the rest in a drawer, transfer everything to zero % and make the biggest payment you can every paycheck.
Always go for the highest interest rate first. You don’t need to feel accomplished. If you are good, use that money to invest and get back more than the interest (high risk, not recommended)
Very nice video
Those sound effects are not annoying at all…
I live in California, enough said. 🤷♂️
March 16, 2022 Thank You.
Only thing I don’t understand with debt relief loans they don’t approve u because of hig debt ratio wtf😅
8k in credit card Debt over here :/
I hope the video helped! You got this!
You & me both ):
Literally me rn 😩
Excellent points. Great strategic info. zero pct. APR balance transfer cards\offers can work well if you are disciplined. Interest rate arbitrage isn't for everyone, but it can save you thousands in interest particularly on new fixed rate amortized loans. It's riskier for paying credit card debt.