1966: [Part 2] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 20 July 2022

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Scott Rieckens of Playing With Fire compares the debt snowball to the debt avalanche. This is part 2 of 2. Episode 1966: [Part 2] Debt Snowball Vs. Debt Avalanche: The Showdown by Scott Rieckens A successful entrepreneur living in Southern California, Scott Rieckens had built a “dream life”: a happy marriage, a two-year-old daughter, a membership to a boat club, and a BMW in the driveway. But underneath the surface, Scott was creatively stifled, depressed, and overworked trying to help pay for his family’s beach-town lifestyle. Then one day, Scott listened to a podcast interview that changed his life. Five months later, he had quit his job, convinced his family to leave their home, and cut their expenses in half. Follow Scott and his family as they devote everything to FIRE (Financial Independence Retire Early), a subculture obsessed with maximizing wealth and happiness. Filled with inspiring case studies and powerful advice, Playing with FIRE is one family’s journey to acquire the one thing money can’t buy: a simpler — and happier — life. The original post is located here: https://www.playingwithfire.co/blog/debt-snowball-vs-debt-avalanche-the-showdown Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	If you are a lover of affirmations or you've just heard about how powerful they can be,
0:07.1	then you are going to love the Daily Affirmations for Women Podcast, created by the Women's
0:12.9	Meditation Network and hosted by the amazing Jodi Aegard.
0:17.4	Every morning you'll receive an episode that is dedicated to one specific affirmation,
0:22.2	so you can have this space to reflect on it and receive the power within it.
0:26.4	Follow and start listening now to the Daily Affirmations for Women Podcast on your favorite
0:31.6	podcast player.
0:35.4	This is Optimal Finance Daily, episode 1966, debt snowball versus debt avalanche, the
0:42.7	showdown, Part 2, by Scott Rickens of Playing with Fire.co, and I'm your host and personal
0:49.6	finance enthusiast, Diana Mariam.
0:52.9	Today's post is actually a continuation from yesterday, so if you're new here, it'd
0:57.6	be best to listen to yesterday's episode first, but if you're all caught up, let's hear
1:02.6	Part 2 and continue optimizing your life.
1:10.2	Debt snowball versus debt avalanche, the showdown, Part 2, by Scott Rickens of Playing with Fire.co.
1:19.5	Is the debt avalanche method better?
1:22.8	It depends on your money temperament.
1:25.3	The debt avalanche method is a great strategy if you're a math-oriented person who is also
1:30.7	disciplined enough to stick to something over a long period, potentially without seeing
1:36.2	any sort of reward for the majority of that time.
1:40.2	If you're someone who can remain motivated without seeing much initial change, then yes,
1:45.7	the debt avalanche method may be perfect for you.
1:49.2	Doing this method will allow you to save the most money while getting you out of debt
	...

Transcript will be available on the free plan in -987 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Optimal Living Daily LLC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Optimal Living Daily LLC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.