debt snowball Archives - Empathic Finance

How to stay motivated when paying off a mortgage

Posted by Mike Pumphrey on December 5, 2022 | Featured

Creating little milestones will help you stay motivated and give you a sense of accomplishment, even if your mortgage takes years to pay off. I logged into my mortgage account this month and saw something very exciting: Do you see … Read More … Read More

Tags: debt, debt snowball, mortgage, mortgages, motivation

Beyond the Debt Snowball: Other ways to pay off debt (and are they worth it?)

Posted by Mike Pumphrey on November 15, 2021 | Featured

I look at some non-traditional methods of paying off debt to see if they are any better than the Debt Snowball method. The problem: you have multiple debts, all with varying amounts, interest rates, and payback timelines. Some are secured … Read More … Read More

Tags: debt, debt free, debt payoff, debt snowball

You can’t pay off your debt until you do this first

Posted by Mike Pumphrey on February 1, 2021 | Featured

If you’re trying to pay off debt without making sure that you’ve done all the necessary work first, you’ll never make any progress. Debt looms large in our financial thoughts. For example, in a list of 50 hashtags in the … Read More … Read More

Tags: budget, budgeting, debt, debt payoff, debt snowball

How to pay off a $10,000 debt

Posted by Mike Pumphrey on October 12, 2020 | Featured

Paying off debt requires drive, focus, patience, and accountability. In this post I show how you can pay off a large debt. In a recent YouTube video, I talked about a hypothetical $10,000 debt. Now, for many people, this sort … Read More … Read More

Tags: debt, debt payoff, debt snowball

My take on Dave Ramsey’s 7 Baby Steps (Part 1, Baby Steps 1-3b)

Posted by Mike Pumphrey on October 22, 2018 | Featured

I offer my opinion and review of each of Dave Ramsey’s Baby Steps, starting with Baby Steps 1, 2, 3, and the often-forgotten Baby Step 3b. This post is part of a two-part series: My take on Dave Ramsey’s 7 … Read More … Read More

Tags: Dave Ramsey, debt, debt snowball, emergency fund, investing

If you’re still unsure about what method to use to pay off your debt

Posted by Mike Pumphrey on May 4, 2017 | Featured

If you’re like most people, you’ve got some form of debt. It could be a car loan, it could be credit cards, or it could be “good debt” like student loans. No matter, it’s got to go. You need to get … Read More … Read More

Tags: debt, debt snowball

The Debt Math Throwdown (or testing the debt snowball)

Posted by Mike Pumphrey on March 6, 2014 | Featured

In my discussion about how to pay off your debt, I mentioned how there were primarily two schools of thought: pay off the highest interest rate first, or pay off the smallest debt first (a.k.a. “the debt snowball”). The … Read More … Read More

Tags: debt, debt snowball, loans, student loans

How to figure out which debt to pay off first

Posted by Mike Pumphrey on March 3, 2014 | Featured

If you’re like most people, you have a few credit cards here and there, maybe a student loan payment, and perhaps a car payment. In addition, maybe you own a house and have a mortgage payment. That’s a lot … Read More … Read More

Tags: debt, debt snowball, interest, loans, Neal Stephenson, student loans

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