Episode 007: The Debt Free Formula

Chris Petrie
Posted Aug 25, 2016 | Updated July 17, 2019

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Debt Snowball vs Debt Avalanche

Money is 10% behavior and 90% fifth grade math. I want you to keep that in mind throughout today’s episode where we dissect the two main methods of paying down debt as quickly as possible: The Debt Avalanche and the Debt Snowball method.

The good news is they both get the job done because in the end if you stick to the formula, your debt will be gone!

However, I still only recommend one method over the other, and I will explain why in this week’s episode. The old saying goes, “There is more than one way to skin cat”.

That may be true, but in my opinion (and I am an expert in my opinion), there is one method that is so much better than the other, and is the only method I recommend. Knowledge is power, which is why I am showing you both, but at the end of the episode you will see there is a clear cut winner.

Thanks for listening in on another episode of the Money Peach Podcast.

-Chris Peach

 

Mentioned in this Episode

Download the Debt Snowball Form (PDF)

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Chris Petrie

Chris (Peach) Petrie is a personal finance expert, money coach, speaker and podcaster.

In 2011, Chris and his family were exhausted from living paycheck-to-paycheck and facing a mountain of debt. They started going against the society standards of misbehaving with money and made the decision to take back control of their lives and money. Within seven months they paid off $52,000, started saving like crazy and began building real wealth.

The word spread fast and Chris started showing friends how to create a budget over dinner. Soon after he started showing their friends how to do the same and eventually Chris started teaching personal finance classes around the community. As the need for the classes grew, Chris launched Money Peach in 2015.

Money Peach was created to help everyday people remove the stress and fear of money by showing them how to save more, make more, and keep more of their money.

Chris Peach has been featured in places like Business Insider, The Huffington Post, Elite Daily, and CheddarTV.

When Chris isn’t at “work” he can be found at the Crossfit gym or riding on the fire truck — Chris is also a full-time firefighter in Phoenix, Arizona.

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