Hi Reader,

It is one of the questions I get asked the most in interviews, and it happened again today.

"What's the best method for paying off credit card debt?"

That was the main question behind my interview with a major national TV news outlet. They wanted to know what worked best.

We talked about 0% balance transfer credit cards, which remain probably the best tool in your toolbelt for taking on credit card debt. We talked about low-interest personal loans, and how they can be a good option if you don't have good enough credit to get a 0% balance transfer card. And of course, we talked about just calling your credit card issuer and asking for a lower rate on your card. That was the inspiration behind my book "Ask Questions, Save Money, Make More: How To Take Control Of Your Financial Life," and I will never stop beating the drum to get people to take that step. (It works 76% of the time!)

Then the conversation turned to the two most commonly discussed methods for paying down debt: the snowball method (pay off your smallest debts first, in order to get quick wins and stay motivated) vs. the avalanche method (focus on the highest-interest debt first, in hopes of paying off your debt with as little interest as possible).

So is the snowball or avalanche method best?

My answer was the same as ever... It really doesn't matter much. There's no one-size-fits-all answer for which method is best. What matters most is that you pick one and get started.

That means that if you think the snowball method sounds best for you, go for it. Same with avalanche. It also means that if you try one and realize it doesn't seem like the right fit for you, you should feel free to change your plan.

Really? You don't recommend one over the other?

Nope. In fact, LendingTree showed in a 2023 analysis that depending on your overall debt makeup, the two methods can be equally effective in helping you pay down debt. However, even if one might save you a bit more money, it still might not be the best choice for you.

That's because different people are motivated by different things. If a few quick wins will fire you up to keep paying off debt, go for the snowball. If you're just about the math and want the best chance of paying the least amount of interest possible, go for the avalanche.

Again, what really matters is getting started and finding a way to keep going. Trust me, no matter how you go about it, no one's going to give you extra credit at the end for paying your debts off in any certain way.

Book tour starts Saturday

I'm so excited. I'll be at the Barnes & Noble at the River Oaks Shopping Center in Houston on Saturday for the first date of my book tour.

Check out my book tour page for all the latest news and to see if I'm coming to a city near you.

And I'll also be announcing a virtual event shortly, for those who can't come see me in person.

Big sale on my audiobook!

Just got word that the audiobook of "Ask Questions, Save Money, Make More" is on sale at Audiobooks.com. Click this link to get your copy for just $8 -- that's 60% off the original price! Check it out, and feel free to share the link with anyone you know who might be interested.

Share a review

Finally, I'd be honored if you'd consider giving my book a review at Amazon.com. Those things are like gold for authors, so I'd appreciate it if you took the time. And of course, while I'd love all glowing 5-star reviews, honesty and truthfulness is what matters most, so please share what you really think about the book, warts and all.

Thank you!
Matt