{"id":29198,"date":"2024-11-08T10:59:19","date_gmt":"2024-11-08T09:59:19","guid":{"rendered":"https:\/\/phoneenglish.es\/blog\/?p=29198"},"modified":"2025-01-10T11:41:07","modified_gmt":"2025-01-10T10:41:07","slug":"debt-snowball-vs-debt-avalanche-method","status":"publish","type":"post","link":"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/","title":{"rendered":"Debt Snowball vs. Debt Avalanche Method"},"content":{"rendered":"\n

B2 – Upper Intermediate<\/em><\/strong><\/p>\n\n\n\n

To tackle debt efficiently, two popular approaches are the debt snowball and debt avalanche methods. Ultimately, the choice depends on your financial goals and personality. If you\u2019re motivated by quick successes, the snowball method could keep you on track. If minimizing interest and reducing total repayment time is your priority, the avalanche method may be a better fit.<\/p>\n\n\n\n

Read the article to know more about the difference between these two methods. <\/p>\n\n\n\n

https:\/\/www.experian.com\/blogs\/ask-experian\/avalanche-vs-snowball-which-repayment-strategy-is-best\/<\/strong><\/a><\/p>\n\n\n\n

Vocabulary Questions:<\/strong><\/p>\n\n\n\n

    \n
  1. What does “variable interest rate<\/strong>” mean? “For example, if you used a\u00a0cosigner\u00a0for a student loan or have a loan with a\u00a0variable interest rate<\/strong>\u00a0that’s likely to rise, you may want to pay off that loan first regardless of the balance.”<\/em> Use it in a sentence. <\/li>\n\n\n\n
  2. What does “debt consolidation loan”<\/strong> mean? “Debt consolidation loans<\/strong> also offer a fixed repayment term.”<\/em> Use it in a sentence. <\/li>\n\n\n\n
  3. What does “minimum payment trap” <\/strong>mean? “A debt consolidation loan can help you avoid getting stuck in a minimum payment trap<\/strong>.” <\/em>Use it in a sentence. <\/li>\n<\/ol>\n\n\n\n

    Discussion Questions:<\/strong><\/p>\n\n\n\n

      \n
    1. Explain the difference between debt snowball and debt avalanche method.<\/li>\n\n\n\n
    2. Give one advantage and disadvantage for both debt payoff methods.<\/li>\n\n\n\n
    3. Which between the two do you think is a better strategy in paying debts off and why?<\/li>\n\n\n\n
    4. Share your own approach\/es in getting rid of debts.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

      B2 – Upper Intermediate To tackle debt efficiently, two popular approaches are the debt snowball and debt avalanche methods. Ultimately, the choice depends on your financial goals and personality. If you\u2019re motivated by quick successes, the snowball method could keep you on track. If minimizing interest and reducing total repayment time is your priority, the […]<\/p>\n","protected":false},"author":51,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[291,39,292,289,293],"class_list":["post-29198","post","type-post","status-publish","format-standard","hentry","category-homework","tag-b2-upper-intermediate","tag-finance","tag-first-certificate-fce","tag-reading","tag-text"],"yoast_head":"\nDebt Snowball vs. Debt Avalanche Method | phone english blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Debt Snowball vs. Debt Avalanche Method | phone english blog\" \/>\n<meta property=\"og:description\" content=\"B2 – Upper Intermediate To tackle debt efficiently, two popular approaches are the debt snowball and debt avalanche methods. Ultimately, the choice depends on your financial goals and personality. If you\u2019re motivated by quick successes, the snowball method could keep you on track. If minimizing interest and reducing total repayment time is your priority, the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/\" \/>\n<meta property=\"og:site_name\" content=\"phone english blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/phoneenglish.es\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-08T09:59:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-10T10:41:07+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@phoneenglishes\" \/>\n<meta name=\"twitter:site\" content=\"@phoneenglishes\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\">\n\t<meta name=\"twitter:data1\" content=\"1 minute\">\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/phoneenglish.es\/blog\/#organization\",\"name\":\"PHONE ENGLISH\",\"url\":\"https:\/\/phoneenglish.es\/blog\/\",\"sameAs\":[\"https:\/\/facebook.com\/phoneenglish.es\",\"https:\/\/www.linkedin.com\/company\/phoneenglish\",\"https:\/\/twitter.com\/phoneenglishes\"],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/phoneenglish.es\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/phoneenglish.es\/blog\/wp-content\/uploads\/2020\/05\/phone-english1.png\",\"contentUrl\":\"https:\/\/phoneenglish.es\/blog\/wp-content\/uploads\/2020\/05\/phone-english1.png\",\"width\":200,\"height\":124,\"caption\":\"PHONE ENGLISH\"},\"image\":{\"@id\":\"https:\/\/phoneenglish.es\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/phoneenglish.es\/blog\/#website\",\"url\":\"https:\/\/phoneenglish.es\/blog\/\",\"name\":\"phone english blog\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/phoneenglish.es\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/phoneenglish.es\/blog\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/#webpage\",\"url\":\"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/\",\"name\":\"Debt Snowball vs. Debt Avalanche Method | phone english blog\",\"isPartOf\":{\"@id\":\"https:\/\/phoneenglish.es\/blog\/#website\"},\"datePublished\":\"2024-11-08T09:59:19+00:00\",\"dateModified\":\"2025-01-10T10:41:07+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"item\":{\"@type\":\"WebPage\",\"@id\":\"https:\/\/phoneenglish.es\/blog\/\",\"url\":\"https:\/\/phoneenglish.es\/blog\/\",\"name\":\"Blog\"}},{\"@type\":\"ListItem\",\"position\":2,\"item\":{\"@id\":\"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/#webpage\"}}]},{\"@type\":\"Article\",\"@id\":\"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/#webpage\"},\"author\":{\"@id\":\"https:\/\/phoneenglish.es\/blog\/#\/schema\/person\/92652a95b98e14a43e1aab610726655e\"},\"headline\":\"Debt Snowball vs. Debt Avalanche Method\",\"datePublished\":\"2024-11-08T09:59:19+00:00\",\"dateModified\":\"2025-01-10T10:41:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/#webpage\"},\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/phoneenglish.es\/blog\/#organization\"},\"keywords\":[\"B2 - Upper intermediate\",\"finance\",\"First Certificate FCE\",\"Reading\",\"Text\"],\"articleSection\":[\"Homework\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/phoneenglish.es\/blog\/2024\/11\/debt-snowball-vs-debt-avalanche-method\/#respond\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/phoneenglish.es\/blog\/#\/schema\/person\/92652a95b98e14a43e1aab610726655e\",\"name\":\"angelica\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","_links":{"self":[{"href":"https:\/\/phoneenglish.es\/blog\/wp-json\/wp\/v2\/posts\/29198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/phoneenglish.es\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phoneenglish.es\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phoneenglish.es\/blog\/wp-json\/wp\/v2\/users\/51"}],"replies":[{"embeddable":true,"href":"https:\/\/phoneenglish.es\/blog\/wp-json\/wp\/v2\/comments?post=29198"}],"version-history":[{"count":3,"href":"https:\/\/phoneenglish.es\/blog\/wp-json\/wp\/v2\/posts\/29198\/revisions"}],"predecessor-version":[{"id":29415,"href":"https:\/\/phoneenglish.es\/blog\/wp-json\/wp\/v2\/posts\/29198\/revisions\/29415"}],"wp:attachment":[{"href":"https:\/\/phoneenglish.es\/blog\/wp-json\/wp\/v2\/media?parent=29198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phoneenglish.es\/blog\/wp-json\/wp\/v2\/categories?post=29198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phoneenglish.es\/blog\/wp-json\/wp\/v2\/tags?post=29198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}