Ranking Every Debt Pay Off Strategy (Worst to Best!)
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Today, I'm ranking 14 Debt Payoff Strategies from the worst to the best/most effective - and the why behind each strategy. Chime in in the comments if you've used any of these and if they worked for you or not so much.
TIME STAMPS
0:00 - So Many Strategies, So Little Time
0:54 - Strategic Default
1:53 - Bankruptcy
3:00 - Borrowing from 401(k)
3:56 - Debt Settlement
5:52 - Cash-Out Refinance
6:26 - Home Equity Loan/HELOC
7:20 - Using Cash Savings
8:34 - Debt Consolidation or Personal Loan
9:29 - Refinancing Individual Loans
10:06 - CC Balance Transfers
11:00 - You're Getting There :)
12:09 - Made it to Top 3!
13:31 - One More!!
14:18 - GOAT Strategy 🐐
15:24 - Big Takeaways - Comment which strategy is your favorite or worked for you!
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🎉 Who is Debt Free Millennials? Hi, I'm Justine! Consider me your millennial big sis when it comes to personal finance. We'll cover how to budget, save money, and finally pay off your debt (for good). Let's get you back to financial confidence that helps you crush debt and live a life with more fun and fewer payments. Glad you're here!
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