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Debt Sucks But Your Payoff Strategy Doesn't Have To

Debt Sucks But Your Payoff Strategy Doesn't Have To

Update: 2025-10-17
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Description

Debt can make you feel like you're always behind. But there's a path forward — and it's not as complicated as it seems. Learn what debt looks like for different professions and the best ways to finally pay it off.

We walk through real numbers from SLP Wealth clients, from dentists to veterinarians, and break down strategies like the avalanche and snowball methods, balance transfers, debt consolidation, HELOCs, and even 401(k) loans. I also share when each option might make sense (and when to stay far away). Most importantly, we talk about how to stay out of debt once you're free.

Key moments:

(04:49 ) Real client data: average debts and incomes across professions

(11:01 ) How to choose between the avalanche and snowball payoff methods

(15:37 ) Smart (and risky) tools to pay down debt — 0% balance transfers, consolidation loans, and HELOCs

(27:18 ) When a 401(k) loan might actually make sense

Resources mentioned:
Monarch Money

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Debt Sucks But Your Payoff Strategy Doesn't Have To

Debt Sucks But Your Payoff Strategy Doesn't Have To