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How to Get Out of Debt ASAP using the snowball debt reduction strategy

Updated: Jun 4

Snowball debt reduction strategy
Paying down debt using the snowball debt reduction strategy

Adviser Ratings Article 24th November 2014


A man came up to me and asked “You can’t be debt free in 5 years or less if you own a home”.  I said “Really, do you mind if I use you as an example?”


“This will be interesting” He responded.


“Can you save 10% of your gross income?” I asked.


His response was “If it means I will be debt free in 5 years absolutely."


The following is the sequence we recommended the client pay down their individual loans so to achieve the goal of being debt free in less than 5 years.


The snowball debt reduction strategy.


Read the full article: http://www.adviserratings.com.au/blog/2014/november/how-to-get-out-of-debt-asap/

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