Which Debt Payoff Plan Will You Actually Stick With?

Speaker A00:00:00

Have you ever tried to get out of debt but got stuck before you even started? Not because you didn't want freedom, but because you didn't know which plan to choose.You watched that one video that said the Snowball Method, then another said Avalanche Method. Then a friend told you you're doing it completely wrong. And instead of hope, you felt overwhelmed.Friend, today isn't about choosing the smartest plane on paper. It's about choosing the plan you can live with when life gets loud. Hey, friend. Ralph Estep Jr. Here.Welcome to Financially Confident Christian, where we're learning how to walk through life and money with wisdom, with peace, and a heart anchored in God's truth. My mission here is pretty simple. I want to help you break that cycle of financial shame and build those steady habits that are rooted in faith.And to become the kind of believer who handles money with clarity, with confidence, and with spiritual purpose. Yesterday we talked about those debt myths, those stories that quietly keep people stuck, the ones that say freedom isn't realistic.And today we're going to move from belief and move into action. We're talking about how to actually pay off debt in a way that fits you, not someone else's personality. Because the best plan isn't the trendiest.It's the one you'll still be doing three months from now. A listener asked me this. Ralph, everyone tells me something different. Snowball, Avalanche.I just want to know, which do I choose the right one so I don't quit again. And. And that question tells me two things. Number one, you're ready to move forward. And number two, you want to do it wisely.Both of those things are fantastic. And I can help you. Because what you might be feeling is this. I don't want to fail again. I don't want to trust myself to stick with it.And I'm afraid of choosing the wrong option. And let me tell you right now, friend, that fear doesn't make you weak. It makes you care. And if you care, here's the truth. There is no perfect plan.There's only a faithful one. One that you're going to repeat, one that you can sustain, and one that you can live with. Let me say it plainly and boldly.Math doesn't matter if you quit. A plan that saves you the most money but crushes your motivation isn't wisdom. It's not going to work for you. It's just frustration.With extra steps, the best plan is the one you will actually follow. And over the years, I've watched people succeed with both methods, both of Them are fine. And. And I've watched people fail with both methods.Not because the plan was wrong, but because it didn't match their wiring or their motivation or their emotional needs. Freedom comes when the plan fits the person. And I remember one client clearly, he loved numbers. This dude loved numbers. He loved efficiency.He loved seeing those interest rates. So the avalanche method, it gave him confidence. Another client, she needed encouragement.She needed to see something disappear, to believe she could actually keep it going. Snowball method worked for her. Same goals, different paths. Both faithful. So here's today's gentle question.Which plan will keep you encouraged when progress feels slow and life gets messy and you're tempted to quit? I want to walk through the two options, and I'll help you choose in about 60 seconds. Here's number one. The debt snowball method builds momentum.That's what it does. Think about a snowball rolling downhill.With that snowball method, you pay off debts from smallest balance to largest, not because that's mathematically perfect, but because it's emotionally powerful. You pay off one small card and your brain goes, I can do this. That win builds confidence, and that confidence will fuel your consistency.Now let's talk about the avalanche method, because it's the one that maximizes efficiency. With the avalanche method, you focus on the highest interest rate first, which usually saves you more money over time.So if you're one of those people that interest makes you angry. If you want the most efficient route, and you can feel empowered by this, it rewards patience and discipline. Okay, Rob, but you're saying no.Wait a minute. I still don't understand. How do I choose? Here's how you choose. I want you to answer three questions honestly. Question number one.Do you need quick wins to stay motivated? If you're one of those people that needs quick wins, guess what. Snowball works for you. Second question.Does paying interest feel like it's stealing from you? If you're saying, yo, I hate paying interest, guess what avalanche is best for you?Question number three, and this is a harder question, when you get discouraged, what helps you more? Seeing a balance disappear or knowing you're saving the most money?If you're one of those people that wants to see that balance disappear, take the snowball method. If you're one of those folks that wants to see saving more, take the avalanche method. That's it. It's not some big personality test.It's a consistencies test. But I want you to hear this. God honors diligence, not comparison. You don't need the best plan.I Get so annoyed when he's like, well, this plan is better than this plan, or this plan is better than this plan. You need your plan. God honors steady obedience, not some flashy strategy.And friend, choosing a plan and repeating it is actually the act of wisdom right there. Proverbs 21:5 says it all. The plans of the diligent lead to profit as surely as haste leads to poverty. Not rushed plans, not borrowed plans.Diligent plans that work for you. Lord, thank you for giving us wisdom and freedom to choose. Help us select a plan that fits our lives and fits our hearts.Give us diligence, not perfection, and strengthen us to stay the course when we feel like we can't do it. And we ask this in Jesus name, Amen. Here's today's step. I want you to choose your plan, whether it be snowball or avalanche.And then I want you to do this next. Write down your first target debt. And then write the extra amount you can send each month. Hey, even if it's 25 bucks. And pick a start date.I want you to pick that today, not someday. Because, see, you got to start somewhere. Because that clarity will actually create the momentum. And friend, choosing a plan alone can feel heavy.You, you might already be feeling that. Raph, I still don't know what to do. Well, I'm going to encourage you.Come inside the financially confident Christian community because people there say I didn't just get advice. I've got encouragement to keep going. It's a place where progress is celebrated and setbacks are met with grace.I'm going to encourage you to go there today. Financiallyconfidentchristian.com/join again. That's financiallyconfidentchristian.com/join. You're welcome anytime. Let me leave you with this.You don't need to be perfect. You just got to get started, choose a plan, take the next step, and then keep going.Now, tomorrow we're going to talk about how to stay motivated when debt payoff feels slow. Because trust me, sometimes it feels like you're not getting anywhere. That's what we're going to cover on tomorrow's show.But today I want you to go out there and be a financially confident Christian. Have confidence in yourself. You can do this. I believe in you. Stay financially savvy. God bless you, and I'll see you again on tomorrow's show.