Question 1

What's the difference between debt avalanche and debt snowball repayment methods?

Accepted Answer

The debt avalanche method targets the highest interest rate first—mathematically optimal, saves the most money over time. The debt snowball method targets the smallest balance first—gives quick psychological wins that build repayment momentum. Both use the same total monthly payment; only the payoff ORDER differs. Pro Tip: If your rates are all similar (within 3%), Snowball wins because motivation matters more. If you have 20%+ credit card debt alongside 5% car loans, Avalanche is the clear choice. Statistic: Avalanche saves 15-20% more interest on average, but Snowball users are 14% more likely to become fully debt-free

Question 2

How much extra should I pay each month?

Accepted Answer

Any amount helps. $50/month extra on $20,000 of debt can save $3,000+ in interest and cut years off your payoff. The key is consistency—$100/month every month beats $500 once in a while. Pro Tip: Automate your extra payment the day after payday. What you don't see, you don't spend. Statistic: Dads who automate extra payments are 3.2x more likely to follow through for 12+ months

Question 3

What happens when I pay off the first debt?

Accepted Answer

This is the magic of both strategies: when Debt #1 is paid off, you roll its ENTIRE payment (minimum + extra) into Debt #2. Your payment snowballs bigger with each debt eliminated, accelerating faster over time. Pro Tip: Celebrate each payoff—but don't splurge. Roll every freed dollar into the next debt.

Question 4

Should I use savings to pay off debt faster?

Accepted Answer

Keep at least $1,000 in emergency savings first. After that, if your debt interest rate exceeds 7-8%, paying it off is usually a better 'investment' than keeping cash in a savings account earning 4-5%. Statistic: 78% of Dads who keep a $1,000 emergency fund while paying debt avoid taking on NEW debt during payoff

Question 5

Can I switch strategies mid-payoff?

Accepted Answer

Absolutely. Many dads start with Snowball for quick wins, then switch to Avalanche once they've built momentum and eliminated small debts. The best strategy is the one you actually stick with. Pro Tip: Re-run this comparison every 6 months as debts change. The optimal strategy may shift as balances evolve.

Question 6

How does divorce affect my debt payoff plan and credit score?

Accepted Answer

Divorce often splits joint debts, adds attorney fees and court costs, and changes your disposable income. Recalculate your debt payoff strategy with your post-divorce financial reality: your income only, debts assigned to you, plus any new monthly obligations like child support or alimony payments. Pro Tip: Add child support and alimony as 'fixed expenses' before calculating your extra payment budget. Be realistic about what you can afford.

Question 7

What if I can only afford minimum payments right now?

Accepted Answer

That's okay—start here. Even paying minimums consistently keeps your credit intact and prevents defaults. Look for ways to free up even $25-50/month: cut one subscription, sell unused items, or pick up a side gig. Pro Tip: Use the 'found money' rule: any unexpected income (tax refund, bonus, birthday cash) goes straight to debt. Statistic: The average American has 3+ unused subscriptions totaling $50-100/month—cancel those and redirect to debt

Question 8

How accurate are these payoff projections?

Accepted Answer

Very accurate for fixed-rate debts. The calculator uses the same compound interest math that banks use. Results assume consistent payments and no new charges. Credit card projections may vary if you continue using the card. Pro Tip: Stop using cards you're paying off. Put them in a drawer (or freeze them in a block of ice—seriously, it works).

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