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

Debt Snowball Explained for Beginners | How to Pay Off Debt | Debt Payoff | Budget for Beginner | MONETS MONEY
In this video I will be sharing how you can get started using the Debt Snowball Method within your budget. This method has benefited me with gaining control of my finances and with this video I hope I can encourage others to do the same!
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Monets Money
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[@Meg_Esco]

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]

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

[@xaimara13]

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]

AwwThank you so much ❤️🤗

[@ericacalanoc]

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

[@danb8606]

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.

[@alysha.24]

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!

[@MonetsMoney]

Glad it was helpful!

[@skoopqueen]

I

[@eadad4371]

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]

@@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]

@@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.]

@@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]

@@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 .

[@esbi1124]

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

[@aneshaelizabeth]

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]

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

[@LuisVillanueva45]

Loved your video. Thanks for sharing!

[@relaxvideos8742]

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

[@Whisper-fz5qb]

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

[@GiselleSantosBeauty]

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

[@MonetsMoney]

Thank you 🤗 Glad the video was helpful

[@graceartsgifts]

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

[@MonetsMoney]

Glad this was helpful ❤️

[@BudgetwithDragons]

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

[@MonetsMoney]

Thank you! ❤️❤️

[@THETAYAJ]

This is great Monet!!! Thank you for sharing

[@MonetsMoney]

Thank you ❤️

[@michellepadgett6537]

Love it. So easy to understand. Thank you 🦋

[@MonetsMoney]

Thank you ❤️

[@MrChevy7]

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

[@krazyangel83]

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

[@MonetsMoney]

Glad this video was helpful!

[@LaurenOliviArt]

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

[@MonetsMoney]

I’m happy I can give you some peace and company ❤️❤️

[@itskia2586]

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

[@MonetsMoney]

Appreciate that ❤️ thank you so much

[@linneafristoe3277]

Another great video! Thank you!

[@MonetsMoney]

Thank you for watching ❤️

[@darlener.8225]

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

[@MonetsMoney]

Glad the video was helpful! 🤗

[@sueannheadley5384]

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

[@choosetoshine2610]

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

[@MonetsMoney]

Thank you so much ❤️ welcome to the family

[@elishajorden4457]

Love this video thank you ! 🖤

[@MonetsMoney]

Glad you enjoyed ❤️

[@katresealexander7608]

I love your teachings for the beginners.

[@MonetsMoney]

Thank you ❤️

[@nikkirodriguez8207]

Thank you for the video! Very helpful to understand.

[@MonetsMoney]

Glad it was helpful!

[@paulac4071]

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

[@MonetsMoney]

Aww thank you so much ❤️

[@mansmooth255]

Great job🎉

[@lashayjeinkins8629]

Thanks love I’m going to try this method !

[@MonetsMoney]

Hope it works for you!

[@Muneca4eva]

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

[@MonetsMoney]

Never too late, thank you for watching ❤️

[@MouridEnglish]

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

[@MonetsMoney]

Glad I can help ❤️

[@tamikajones6970]

Great explanation Monet!

[@MonetsMoney]

Thank you 🤗❤️

[@tamikajones6970]

You are welcome

[@MAGROD28]

Thanks for that amazing explanation!

[@MonetsMoney]

Thank you for watching ❤️

[@chiacollins7057]

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

[@MonetsMoney]

Glad you enjoyed it!

[@Tony-xt9fm]

Thanks you for this!

[@MonetsMoney]

Glad it was helpful 🤗

[@alinaaguilera3411]

Great video!!

[@MonetsMoney]

Thank you!

[@Ahmed-Crane]

Thank you so so much for this video! I think the Debt Avalanche will be more suitable for me, but I definitely made note of everything for future reference. I love your presentation style!

[@MonetsMoney]

Glad it was helpful!

[@lilianamartinez4958]

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

[@MonetsMoney]

Aww 🥺 thank you so much ❤️ I truly appreciated this

[@jeanieguillet1239]

Great video very well explained, love it.

[@MonetsMoney]

Thank you so much ❤️

[@sueallen558]

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]

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

[@catherine4339]

Brilliant as always 😊

[@MonetsMoney]

Thank you. 🤗❤️

[@antoinettesmith8371]

Oh my Thank You so much Awesome

[@reemalsaffar9503]

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

[@MonetsMoney]

That’s always the goal ❤️ thank you

[@thatwinninggirl942]

Great Stuff 🎉

[@MonetsMoney]

Glad you enjoyed it! ❤️

[@elisa000]

God bless you I am going to try this immediately!

[@MonetsMoney]

Hope it works out for you! ❤️ thanks for watching

[@misseyespy1]

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

[@MonetsMoney]

Happy to help!

[@bornsinet2758]

That's a great share. Thanks

[@MonetsMoney]

Thank you for watching

[@imanichanell7243]

i love this!

[@MonetsMoney]

Glad you enjoyed 🤗

[@UlikeTammy]

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

[@MonetsMoney]

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

[@YossiLavy]

Very well explained and articulated Thank you

[@MonetsMoney]

Glad it was helpful!

[@ChelleBee166]

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]

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

[@TheBlueExiles]

Very inspirational

[@redbone3951]

Wonderfully explain💕💕💕

[@MonetsMoney]

Thank you ❤️

[@nurfaridah6675]

Thank u, it’s so helpfull 🙏

[@MonetsMoney]

Glad it was helpful

[@petronellamdletshe9740]

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

[@MonetsMoney]

Hope it works out for you!

[@meganbudgets8037]

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

[@MonetsMoney]

Glad it was helpful ❤️ welcome to the family

[@thecurvywatts8082]

I’m definitely going to try ty

[@MonetsMoney]

I hope it works out for you! 🤗

[@KreesBudgetJourney]

You’re so great at breaking things down !❤️

[@MonetsMoney]

Thank you so much ❤️

[@astronomical13]

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

[@MonetsMoney]

That’s also a good way to pay off your debt 🤗

[@michellewilliams9195]

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]

Thank you so much for watching ❤️

[@a2zbudgets101]

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]

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]

@@MonetsMoney Thank you 😊 🙏

[@_SusanSantiago]

Well explained 👏🏼

[@MonetsMoney]

Thank you ❤️

[@renisha_th]

This was perfect explanation I am struggling with my bills

[@MonetsMoney]

Happy to know it was helpful ❤️ thank you

[@k1netic1]

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

[@MonetsMoney]

Thank you ❤️

[@Sugar_So_Spicy]

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

[@MonetsMoney]

Glad it was helpful!

[@pasoapaso6323]

As always clear, concise and useful. Great vid!

[@MonetsMoney]

Thank you so much 🤗❤️

[@Lavendari-sv6vy]

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

[@MonetsMoney]

Thank you! Yes I would include that for debt

[@quanzaaustin1915]

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

[@MonetsMoney]

Glad the video was helpful ☺️ hope it works for you

[@JoyJoy-th6fp]

great explanation

[@MonetsMoney]

Glad it was helpful!

[@JoeNerdShow]

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

[@NikkiSapien]

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

[@MonetsMoney]

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

[@Diestarlyt]

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.

[@sofondadavis5028]

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

[@gemamelendez6322]

Thanks Monet!!! I loved this video and it was so easy to understand you really explained so much better 🤩

[@MonetsMoney]

Thank you so much ❤️ glad it was helpful

[@SunflowerSoul11572]

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.

[@TheWealthElevator]

The debt snowball method is effective, yet investing in assets such as rental properties or syndications might be a more strategic use of available funds than debt repayment. Targus primarily targets individuals with lower net worth who are burdened by debt. However, for those with a net worth exceeding $1 million, it's often more advantageous to focus on wealth accumulation rather than debt elimination. Repaying debt is not necessarily synonymous with achieving financial freedom.

[@RunnerThin]

Cheering you on

[@Paula09.16]

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

[@MonetsMoney]

Thank you so much ❤️🤗

[@relaxvideos8742]

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

[@MonetsMoney]

Glad it was helpful 🤗

[@relaxvideos8742]

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

[@relaxvideos8742]

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

[@awrecklessvirgo]

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]

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

[@BeaFindsJoy]

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]

Thank you so much ❤️ appreciate the teaching compliment 🤗

[@lisasavarno2636]

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

[@MonetsMoney]

Thank you so much ❤️

[@brandynoel8713]

Thanks for sharing

[@MonetsMoney]

Thank you for watching ❤️

[@Pistol54Pete]

How does this work with paying on a car loan instead of paying the whole amount owed? My note is 350 per month, so they won't accept 250 per month. I'd be in the hole. Doesn't make since.

[@mattncrys7742]

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

[@MonetsMoney]

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

[@relaxvideos8742]

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

[@yailener123]

These videos helped me so much!! I literally could not understand where to start!! Thank you 💕

[@MonetsMoney]

Happy I can help ❤️ thanks for watching

[@thishijabibudgets353]

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

[@MonetsMoney]

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

[@onezero1441]

Thank you

[@matovujulius9643]

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

[@MonetsMoney]

Glad the video was helpful. Thank you for watching 🤗

[@garymills684]

Great info . Thanks !

[@MonetsMoney]

Thank you ❤️ glad you enjoyed

[@shanzaabananzaa1725]

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]

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

[@oliviagray6061]

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

[@MonetsMoney]

Glad it was helpful!

[@Musicizmyremedy]

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

[@MoneywithGab]

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]

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

[@relaxvideos8742]

What tips do you have about saving money

[@YOUonlyLive01once]

Hi. From the Philippines

[@MonetsMoney]

Hi 🤗

[@dachsymom5232]

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

[@ZoeysMusings]

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

[@johnfernandez2060]

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 ?