Erick, are there any tricks to paying down credit card debt? I’d love to put the money in my 401(k) instead!

debt snowball payoffTry the avalanche or snowball method. In each you’ll focus on making extra payments to one debt — while continuing to make the minimum payment on all your other debts.

  • With the avalanche method, you tackle the loan with the highest interest rate first, which could save you more on interest.
  • With the snowball method, you start with your lowest-balance loan, which could be emotionally satisfying as you clear away smaller, lingering debts first.

Book a free consultation today to learn more.


1 “What Does it Cost to Raise a Child?” (The Washington Post, October 13, 2022).

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