Debt Snowball Explained for Beginners | How to Pay Off Debt | Debt Payoff | Budget for Beginners

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  • Опубліковано 11 січ 2025

КОМЕНТАРІ • 253

  • @Basic_Barbie23
    @Basic_Barbie23 2 роки тому +52

    Just sat down and wrote down all my credit card debt! I’m ready to take control and build my wealth. Thanks for the video!!

    • @MonetsMoney
      @MonetsMoney  2 роки тому +2

      Congrats on completing the first step! Happy that you want to take control and that I could help ❤️ wishing you success and good luck on your journey

    • @elfrijol18
      @elfrijol18 3 місяці тому

      Any update.?

    • @DianeLong-ky8hp
      @DianeLong-ky8hp 2 місяці тому

      I did this too today

    • @flowforever9084
      @flowforever9084 Місяць тому

      Me too

  • @Whisper-fz5qb
    @Whisper-fz5qb 2 роки тому +20

    The snowball actually works. I’ve paid off about $1,500 of my $6,000 in debts in the last couple months

  • @xaimara13
    @xaimara13 3 роки тому +152

    This is the best explanation I’ve seen to the snowball method, I actually didn’t understand why they call it snowball until today. Thanks for making this video!

    • @MonetsMoney
      @MonetsMoney  3 роки тому +2

      AwwThank you so much ❤️🤗

  • @ericacalanoc
    @ericacalanoc Рік тому +4

    I thought I already knew the meaning of it until you explain it even more through an example. Thank you!

  • @alysha.24
    @alysha.24 11 місяців тому +4

    This was the greatest visual representation to break down the snowball method, while also being so supportive! I loved this, and I’ll definitely be coming back to it when I need a little extra motivation!

  • @skoopqueen
    @skoopqueen Рік тому +35

    I

    • @eadad4371
      @eadad4371 Рік тому

      Not quite long I started investing. I'm very curious and need help on how to enhance and increase my returns. Any good investment tips would be appreciated

    • @skoopqueen
      @skoopqueen Рік тому

      @@eadad4371 Alright so generally, investing requires higher knowledge. For this reason, It's important to have a solid support structure (financial consultant) to guide you through especially in asset picking. I operate with (REGINA LOUISE COLLARO) an investment advisor who partners with a licensed wealth management firm. For the record, the experience has been the best for my finance. She is quite popular for her services so you might have heard of her.
      She made me financially stable investing through her help, now I earn on a monthly basis through her passive income strategy...So I’ll advise you do get a good Investment advisor for yourself.

    • @eadad4371
      @eadad4371 Рік тому

      @@skoopqueen That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this person?

    • @skoopqueen.
      @skoopqueen. Рік тому

      @@eadad4371 look her up on the internet and leave her a message she's quite popular for her services as she was recently featured on cnn. She can work with anyone irrespective of where their located

    • @emeldcentor1474
      @emeldcentor1474 Рік тому

      @@skoopqueen. I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me .

  • @krazyangel83
    @krazyangel83 2 роки тому +9

    Thank you for the video! I am going to start this immediately! I've been struggling and this explained so much!

  • @aneshaelizabeth
    @aneshaelizabeth 2 роки тому +20

    Thank you for this video! I was aggressively paying off debt two years ago, but life happened and I got into debt further. I’m currently working on digging myself out this hole and I just needed a refresher on the snowball method.

    • @MonetsMoney
      @MonetsMoney  2 роки тому +1

      I understand life happening. Glad to see you trying again and I’m happy this video was helpful to you!

  • @esbi1124
    @esbi1124 Рік тому +8

    Hello Monet, thank you for the video. Crystal clear explanation + high quality. Respect.

  • @danb8606
    @danb8606 2 роки тому +14

    Awesome breakdown. I would also mention that it's usually good for people to have Dave Ramsey's baby step 1: Save $1000 fast. That way people have a safety cushion, while they're going aggro on their debt snowball. I always felt vulnerable when not having some savings, while getting aggressive on the debt per month. Was scared to over-extend.

    • @elfrijol18
      @elfrijol18 3 місяці тому

      The peace of mind of having that emergency fund kept me going and allowed me to put more trust into the process.

  • @relaxvideos8742
    @relaxvideos8742 2 роки тому +3

    I enjoy your videos Monet and I'm working on paying off my debt and saving money as well to also help to pay of my debt faster

  • @LaurenOliviArt
    @LaurenOliviArt 2 роки тому +5

    You’re so nice. Thank you I was really starting to think bad thoughts and you made me feel a lot better

  • @MrChevy7
    @MrChevy7 2 роки тому +2

    Your hands are so very expressive!, I love it :D

  • @paulac4071
    @paulac4071 3 роки тому +6

    This was awesome excellent video. Finally someone gets it and shows it in a simply format. You should be teaching

    • @MonetsMoney
      @MonetsMoney  3 роки тому +1

      Aww thank you so much ❤️

    • @flowforever9084
      @flowforever9084 Місяць тому +1

      She does a great job with her explanations ❤

  • @MouridEnglish
    @MouridEnglish 2 роки тому +2

    Now I understand what the snowball method means. Thanx a lot. Blessings.

  • @awrecklessvirgo
    @awrecklessvirgo Рік тому +1

    My name is Mone't, and I wanted to know more about the snowball method to become debt free. The way God works this is the first video I clicked on, and your name is Monet!!!! with a channel called Monet's Money!!!!. Lol God is outchea and he's very clear and always right on time. Thanks love, from one Monet to another!!!!

    • @MonetsMoney
      @MonetsMoney  Рік тому

      Loving meeting another Monet. Glad I was here at the right moment ❤️🤗

  • @relaxvideos8742
    @relaxvideos8742 2 роки тому +3

    Hi I'm using this method to eliminate my debt thanks for the motovation

    • @MonetsMoney
      @MonetsMoney  2 роки тому

      Glad it was helpful 🤗

    • @relaxvideos8742
      @relaxvideos8742 2 роки тому

      @@MonetsMoney and I'm building my savings as well your challenge motivated me as well

    • @relaxvideos8742
      @relaxvideos8742 2 роки тому

      @@MonetsMoney me too and I'm starting to also put money away for savings

  • @Paula09.16
    @Paula09.16 3 роки тому +29

    So proud of you Monet! Love how you're handling your debt, learning as you go & teaching others along the way.

    • @MonetsMoney
      @MonetsMoney  3 роки тому +2

      Thank you so much ❤️🤗

  • @lilianamartinez4958
    @lilianamartinez4958 3 роки тому +1

    I think you are such a smart young lady just wanted to say good job. Just found you and watching all your videos

    • @MonetsMoney
      @MonetsMoney  3 роки тому +1

      Aww 🥺 thank you so much ❤️ I truly appreciated this

  • @GiselleSantosBeauty
    @GiselleSantosBeauty 2 роки тому +24

    This was THE BEST breakdown on this! Thank you so much for taking the time to teach us 🥰

  • @sueallen558
    @sueallen558 2 роки тому +10

    You answer so many questions I have when you do these videos. Including medical bills in debt snowball was one of them. 💵 thank you!

    • @MonetsMoney
      @MonetsMoney  2 роки тому

      So happy the videos are helpful ❤️ thank you for watching and glad you enjoy 🤗

  • @choosetoshine2610
    @choosetoshine2610 2 роки тому +3

    Excellent content and delivery! Your explanation was thorough. New subscriber.

    • @MonetsMoney
      @MonetsMoney  2 роки тому +1

      Thank you so much ❤️ welcome to the family

  • @ChelleBee166
    @ChelleBee166 3 роки тому +15

    I love these videos so much! You lay it out so simply so it makes so much sense. I used your video on how to create a cash budget by essentially "saving" from each paycheck for a bill and it has changed our finances! Thank you!!

    • @MonetsMoney
      @MonetsMoney  3 роки тому

      Thank you so much. I’m very happy to hear that the videos are helpful. ❤️

  • @BudgetwithDragons
    @BudgetwithDragons 3 роки тому +6

    NOTIFICATION GANG SIS 🙌🏽🙌🏽🙌🏽As always an amazing tutorial video sis!!🤗

  • @graceartsgifts
    @graceartsgifts 2 роки тому +4

    Love this! Really helped me pay off my debts! Thanks, Peace and Prosperity!

    • @MonetsMoney
      @MonetsMoney  2 роки тому +1

      Glad this was helpful ❤️

  • @Pamcatmom
    @Pamcatmom 4 місяці тому +1

    Explained really well. Thank you .

  • @katresealexander1311
    @katresealexander1311 3 роки тому +3

    I love your teachings for the beginners.

  • @a2zbudgets101
    @a2zbudgets101 2 роки тому +3

    Hi Monet! I just started a cash stuffing channel. I'm going to start this method soon. Paying credit cards each month can be a hand full. This was a very good video... I just subscribed.. Love it!🥰🥰

    • @MonetsMoney
      @MonetsMoney  2 роки тому +1

      Congrats on starting your channel and welcome to the family. taking the step to tackle your debt is a challenge on its own and I’m rooting you on ❤️🤗

    • @a2zbudgets101
      @a2zbudgets101 2 роки тому

      @@MonetsMoney Thank you 😊 🙏

  • @Musicizmyremedy
    @Musicizmyremedy 10 місяців тому +3

    I just dropped $2500 on debt today it hurts my pockets but it feels great lol

  • @michellepadgett6537
    @michellepadgett6537 3 роки тому +6

    Love it. So easy to understand. Thank you 🦋

  • @lmoore58579
    @lmoore58579 2 місяці тому +1

    Thanks for the 411. Well done!

  • @itskia2586
    @itskia2586 3 роки тому +1

    You did a great job explaining this Monet. I will share this video to everyone who needs to learn this method.

    • @MonetsMoney
      @MonetsMoney  3 роки тому +1

      Appreciate that ❤️ thank you so much

  • @sueannheadley5384
    @sueannheadley5384 3 роки тому +1

    enjoyed your explanation and I am going to educate my kids with your method

  • @michellewilliams9195
    @michellewilliams9195 3 роки тому +6

    I really appreciate your simple explanation. It's very helpful and I'll be sure to check out your other videos. Thanks for sharing!

    • @MonetsMoney
      @MonetsMoney  3 роки тому +1

      Thank you so much for watching ❤️

  • @chiacollins7057
    @chiacollins7057 Рік тому

    This is one of the best video I have seen on snowball the video is really inspiring me I love thanks

  • @BeaFindsJoy
    @BeaFindsJoy 3 роки тому +20

    Yes!!! You are such a great teacher when it comes to budgeting. So very detailed and organized. Thanks for helping others that wants to get started. ☺️

    • @MonetsMoney
      @MonetsMoney  3 роки тому

      Thank you so much ❤️ appreciate the teaching compliment 🤗

  • @astronomical13
    @astronomical13 2 роки тому +13

    My smallest debts carry the highest interest rates so my snowball happens to be an avalanche.

  • @shanzaabananzaa1725
    @shanzaabananzaa1725 3 роки тому +2

    You have honestly changed my financial situation for 2022!! These beginner videos have made things so easy to understand!! You are a godsend!!! Xx

    • @MonetsMoney
      @MonetsMoney  3 роки тому +1

      I’m so glad to hear that! Happy to know these videos are helpful and understandable. Wishing you success for your finances in 2022 ❤️

  • @darlener.8225
    @darlener.8225 2 роки тому +3

    You explained this so well!!! Thank you so much

    • @MonetsMoney
      @MonetsMoney  2 роки тому

      Glad the video was helpful! 🤗

    • @flowforever9084
      @flowforever9084 Місяць тому

      Sure did🎉🎉❤❤❤🎉🎉❤😂

  • @LindiKhoza
    @LindiKhoza 6 місяців тому +1

    Thank you. I'm inspired.

  • @NikkiSapien
    @NikkiSapien 2 роки тому +2

    These are great, fresh examples of the snowball method. Where/when do these financial debt fall into your envelope method?

    • @MonetsMoney
      @MonetsMoney  2 роки тому

      Thank you! I sent aside money for debt each time I cash stuff and put part of that income towards debt snowball payments.

  • @thouhgts.
    @thouhgts. 3 місяці тому

    Great value in this video. Thank you so much.

  • @k1netic1
    @k1netic1 3 роки тому +4

    This is such a thorough explanation of debt snowball. Great vid!

  • @mat4hack230
    @mat4hack230 2 місяці тому

    Epic video, infinite blue and success to all

  • @misseyespy1
    @misseyespy1 8 місяців тому

    Can’t wait to watch I am paying highest first lots to learn from you thank you !

  • @sofondadavis5028
    @sofondadavis5028 2 роки тому

    I would also suggest that you calculate the months till pay off.

  • @Sugar_So_Spicy
    @Sugar_So_Spicy Рік тому

    Took a while for the video to actually get going but it was well worth it sis!😊

  • @renisha_th
    @renisha_th 3 роки тому

    This was perfect explanation I am
    struggling with my bills

    • @MonetsMoney
      @MonetsMoney  3 роки тому

      Happy to know it was helpful ❤️ thank you

  • @tamikajones6970
    @tamikajones6970 3 роки тому +1

    Great explanation Monet!

  • @matovujulius9643
    @matovujulius9643 2 роки тому

    This is what I needed to understand and you have nailed the last nail in the coffin. Thank you so much

    • @MonetsMoney
      @MonetsMoney  2 роки тому

      Glad the video was helpful. Thank you for watching 🤗

  • @quanzaaustin1915
    @quanzaaustin1915 2 роки тому

    Very simple thank you so much. I will try this in my homeland currency.

    • @MonetsMoney
      @MonetsMoney  2 роки тому

      Glad the video was helpful ☺️ hope it works for you

  • @lashayjeinkins8629
    @lashayjeinkins8629 Рік тому

    Thanks love I’m going to try this method !

  • @LuisVillanueva45
    @LuisVillanueva45 Рік тому

    Loved your video. Thanks for sharing!

  • @nikkirodriguez8207
    @nikkirodriguez8207 2 роки тому

    Thank you for the video! Very helpful to understand.

  • @YossiLavy
    @YossiLavy Рік тому

    Very well explained and articulated Thank you

  • @THETAYAJ
    @THETAYAJ 3 роки тому

    This is great Monet!!! Thank you for sharing

  • @shawondahairston6981
    @shawondahairston6981 4 місяці тому

    So helpful! Thank you!!

  • @InnasCrochetland
    @InnasCrochetland 2 роки тому

    This is so beautiful idk how I'm gonna do that with a child and with 20 credit cards lol I'm gonna try though. On the two lowest debts.

  • @elisa000
    @elisa000 2 роки тому

    God bless you I am going to try this immediately!

    • @MonetsMoney
      @MonetsMoney  2 роки тому +1

      Hope it works out for you! ❤️ thanks for watching

  • @petronellamdletshe9740
    @petronellamdletshe9740 8 місяців тому

    That was very nice and simple I'm going to try it

    • @MonetsMoney
      @MonetsMoney  8 місяців тому

      Hope it works out for you!

  • @Meghanmcgavin
    @Meghanmcgavin 3 роки тому +4

    This was so good! Definitely provided some fire to my desire to become debt free! Thank you!

    • @MonetsMoney
      @MonetsMoney  3 роки тому

      So happy to hear that ❤️ thank you for watching and good luck 🤗

  • @ZoeysMusings
    @ZoeysMusings 3 роки тому +5

    You're such a great teacher. I'm so glad you're on UA-cam educating people about subjects like this. Loved the breakdown 👏🏽

  • @relaxvideos8742
    @relaxvideos8742 2 роки тому

    I'm Michael Ayers and I'm using the debt snowball method to pay off my debt

  • @mansmooth255
    @mansmooth255 Рік тому +1

    Great job🎉

  • @TheTiombeProjectLLC
    @TheTiombeProjectLLC 5 місяців тому

    Awesome Video! Thank you so much 💕

    • @MonetsMoney
      @MonetsMoney  5 місяців тому

      Glad you liked it!! ❤️

  • @catherine4339
    @catherine4339 3 роки тому +1

    Brilliant as always 😊

  • @SunflowerSoul11572
    @SunflowerSoul11572 Рік тому

    This is amazing! Would this method if things are in collections and such? I've made mistakes, and I'm finally at a point where I realize I need to stick to the changes that I attempt to make.

  • @linneafristoe3277
    @linneafristoe3277 3 роки тому

    Another great video! Thank you!

  • @elishajorden4457
    @elishajorden4457 2 роки тому +1

    Love this video thank you ! 🖤

  • @MAGROD28
    @MAGROD28 3 роки тому

    Thanks for that amazing explanation!

  • @JoeNerdShow
    @JoeNerdShow Рік тому

    how many times you addding to this video everytime i watch it? lol.. Good vid.. Keep it up

  • @jeanieguillet1239
    @jeanieguillet1239 3 роки тому

    Great video very well explained, love it.

  • @shiyatranscripts
    @shiyatranscripts 3 місяці тому

    Best explanation. Thank you❤️

  • @Lavendari-sv6vy
    @Lavendari-sv6vy Рік тому

    This was so good! Thank you 🙏🏻 would you include taxes owned to IRS and state taxes in the snowball method ?

    • @MonetsMoney
      @MonetsMoney  Рік тому

      Thank you! Yes I would include that for debt

  • @redbone3951
    @redbone3951 3 роки тому +1

    Wonderfully explain💕💕💕

  • @KreesBudgetJourney
    @KreesBudgetJourney 3 роки тому +4

    You’re so great at breaking things down !❤️

  • @reemalsaffar9503
    @reemalsaffar9503 3 роки тому

    Thank you for the video ❤️ great video 😍 simple and easy to understand 😍 All the best ❤️

    • @MonetsMoney
      @MonetsMoney  3 роки тому +1

      That’s always the goal ❤️ thank you

  • @alinaaguilera3411
    @alinaaguilera3411 2 роки тому

    Great video!!

  • @UlikeTammy
    @UlikeTammy 3 роки тому

    I love your channel so much! You explain things very well easy to understand

    • @MonetsMoney
      @MonetsMoney  3 роки тому

      I always want to make things clear and understandable so I’m happy to hear that ❤️ thank you

  • @flowforever9084
    @flowforever9084 Місяць тому

    Can you do a budget video, please. You may have already. Thanks❤❤❤IJS
    Perhaps you hv some good tips😊

    • @MonetsMoney
      @MonetsMoney  28 днів тому

      I do have a playlist for “Budgeting for Beginners” that shows how I budgeted when I first started.

  • @Itsjustmaria43
    @Itsjustmaria43 3 роки тому

    I'm late but enjoyed the video!! 🥰 thank you monet

    • @MonetsMoney
      @MonetsMoney  3 роки тому

      Never too late, thank you for watching ❤️

  • @bornsinet2758
    @bornsinet2758 2 роки тому

    That's a great share. Thanks

  • @johnfernandez2060
    @johnfernandez2060 9 місяців тому +1

    Im about to be hit with over 1500$ worth of interest on 2 of my cards. 😢do I still start with my other couple of Lower amount credit cards or do I go for these big ones with no interest until August ?

    • @Playbenz
      @Playbenz 3 місяці тому +1

      This is past aug. anytime you have a credit card with no interest until so many months pay that first so you aren’t paying high interest if there is a balance when the it stats to calculate interest

  • @meganbudgets8037
    @meganbudgets8037 2 роки тому

    New subscriber, I like how well this was explained 👌 ❤

    • @MonetsMoney
      @MonetsMoney  2 роки тому +1

      Glad it was helpful ❤️ welcome to the family

  • @mattncrys7742
    @mattncrys7742 2 роки тому +1

    Thank you for making this so simple to understand. I am now ready to tackle my debt.

    • @MonetsMoney
      @MonetsMoney  2 роки тому

      Happy to help, glad it was understandable ❤️ Wishing you luck on your journey, you got this 🤗

  • @thatwinninggirl942
    @thatwinninggirl942 Рік тому

    Great Stuff 🎉

  • @Tony-xt9fm
    @Tony-xt9fm 2 роки тому

    Thanks you for this!

  • @nurfaridah6675
    @nurfaridah6675 2 роки тому

    Thank u, it’s so helpfull 🙏

  • @thecurvywatts8082
    @thecurvywatts8082 2 роки тому

    I’m definitely going to try ty

    • @MonetsMoney
      @MonetsMoney  2 роки тому +1

      I hope it works out for you! 🤗

  • @lisasavarno2636
    @lisasavarno2636 3 роки тому +1

    🌻🎃Thank You for sharing your journey and this great video. You did fantastic job explaining. Have a great day 🎃🌻

  • @antoinettesmith8371
    @antoinettesmith8371 3 роки тому

    Oh my Thank You so much Awesome

  • @pasoapaso6323
    @pasoapaso6323 3 роки тому +2

    As always clear, concise and useful. Great vid!

    • @MonetsMoney
      @MonetsMoney  3 роки тому +1

      Thank you so much 🤗❤️

  • @oliviagray6061
    @oliviagray6061 2 роки тому

    Thank you so much for this, this is literally the first time I actually understand this. Very simple explanation.

  • @MoneywithGab
    @MoneywithGab 3 роки тому +5

    Monet!! Girl I love this! You are so great at explaining things! I'm full steam into my debt snowball but this was still very helpful!

    • @MonetsMoney
      @MonetsMoney  3 роки тому +1

      Yes! You are killing your debt snowball but I’m happy to hear this was still useful ❤️ thank you

  • @relaxvideos8742
    @relaxvideos8742 2 роки тому

    What tips do you have about saving money

  • @imanichanell7243
    @imanichanell7243 3 роки тому

    i love this!

  • @arasarelyg.9327
    @arasarelyg.9327 25 днів тому

    So does that mean that I have to change my all of my payment due dates to the same date??? Because I have due dates at very different dates because I can’t afford to make the payment in one paycheck.

  • @dachsymom5232
    @dachsymom5232 3 роки тому

    Great video. No one does these explanation budget videos better! ❤

  • @_SusanSantiago
    @_SusanSantiago 2 роки тому

    Well explained 👏🏼

  • @Sabrinaetmonat
    @Sabrinaetmonat 7 днів тому

    Hello thanks you for the vidéo 📹 😊