3 Debt Free Methods in 2023 | Free Debt Calculator Tracker

Debt-Free Methods in 2023 | How to Get Out of Debt

If you are in debt and not sure how best to tackle the issue. Then stick around because that's what we will be going through in today's video.

🔹 Debt & Budget Spreadsheet: https://docs.google.com/spreadsheets/...

- Debt-Free Calculator
- Understand Your Debt
- Avalanche Method
- Snowball Method
- New Method to Tackle Debt (Madness Method)

Some debts can be a necessary tool to help improve our financial well-being, for example getting a student loan to go to University, getting a Mortgage to purchase your property, or even getting loans to finance your Start-Up/Company. Usually, the interest rates on these are manageable, and as I mentioned are typically used on initiatives that eventually better your financial situation, this is known as "Managed Debt"
When debt becomes unaffordable and or they have high-interest rates that are when it does become a problem and this is known as... funnily enough "Problem Debt". Examples of these can include Credit Cards, Personal Loans, Car Financing, Overdrafts, Store Credit Cards, Buy Now and Pay Later Schemes, etc. Now having these types of debts can get you in a tricky spot, because the interest rates associated with these are a lot higher and you can find yourself spending a lot of money trying to dig yourself out of an interest-ridden mess. And it will this type of debt situation will be tackled in this video

Chapter Information (Debt-Free Methods in 2023):
0:00 Introduction
0:18 Managed Debt VS Problem Debt
1:21 Step One
3:38 Step Two
5:38 Step Three
8:39 Avalanche Method
10:45 Snowball Method
12:13 (Financial) Madness Method
14:22 What Should You Do?

🔹 Debt & Budget Spreadsheet: https://docs.google.com/spreadsheets/...


DISCLAIMER: Any advice or statements perceived to be advice given in this video and any other videos on my channel are for information purposes only, and does not act as financial advice.
You are fully responsible for your financial decisions. If you are in need of any Financial Advice, please seek out a professional advisor. If you are unsure of how to do this, please feel free to reach out to me and I am more than happy to guide you.

#debtfree #debtfreejourney #budget2023