The Optimal Order To Pay Off Debt Fast
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- Опубліковано 1 жов 2024
- Want to know the optimal order to pay down debt? This is the video for you. Introducing the Cash Flow Factor.
Link to the Cash Flow Factor Sheet - docs.google.co...
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The presenter has taken great care in preparing
this video, however makes no representations or warranties with
respect to the accuracy or completeness of its content. The contents
of this video should not be considered a substitute for
professional financial advice. Please consult a financial professional
before implementing any of the strategies described in
this video. The presenter shall not be held liable
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UA-cam recommend me your video and I am so so thankful, really great stuff
btw,
I was wondering do you need an editor for editing your video and shorts/reels?
Great advice that I think everyone that has any debt at all needs to hear
Thanks Tyrell, I agree!
This will be a very useful tool. Is the spreadsheet "view only"? So we will do the calculations ourselves? This is fine, but if I'm able to take advantage of the form being automatic I will. Thank you for your incredibly informative channel, I've enjoyed your content.
You can make a copy and then make the changes in your new copy
So basically a Pairing method, group items of similar interest rates together, and then decide on each of those similar interest rate groups based on size of debt (which then is free cashflow). The groups can be just 2, i.e. higher than 10%, lower than 10%, or as complex as increments of every 3-5% and you get more groups. But I find most people's debts are either mortgage, car, student, credit cards. Which means credit cards exist in its own group, mortgage/LOC/car/student are in its own group.
Yup, you got it!
My first thought for a name is "common sense" or maybe "common cents"?... That being said, I don't think millionaires concentrate on paying off debt. They concentrate on managing/floating it while their cash flow is designated to further investments and assets that can pay themselves off and contribute to more cash flow to rinse and repeat. While keeping enough liquidation potential to bail if need be.
Most of the millionaires I know don’t carry very much debt.
Amazing content! Thank you so much for sharing the spreadsheet. Need more debt buckets. 5 barely scratches the surface 😅
Don’t worry, there are 15 spots available.
Thanks for creating and sharing the smart debt spreadsheet, it will come in handy.
My pleasure