Paula and I first met to discuss her debt. Her financial goal was to eliminate her debt so that she could prepare for comfortable retirement and the purchase of an investment property. We began by listing her debts by order of interest rate, and set out to create a debt snowball plan.
We calculated that if she were to add just $100 to the minimum payment of the account with the highest rate and continue the debt snowball strategy from there, she would shave off 21 months from her total debt repayment timeline and save $2,500 in interest charges!
Paula was so happy to see how easy this plan would be to follow and how much money she would be saving. She is currently actively following her plan, and is confident that she’ll be able to purchase an investment property and retire within the next few years. We continue to work together to keep track of her progress and make sure she stays on track!