---
title: 'Best Way to Pay Off Debt Fast (That Actually Works)'
source: 'https://youtube.com/watch?v=w4Kbq0VJEhY'
video_id: 'w4Kbq0VJEhY'
date: 2026-06-29
duration_sec: 646
---

# Best Way to Pay Off Debt Fast (That Actually Works)

> Source: [Best Way to Pay Off Debt Fast (That Actually Works)](https://youtube.com/watch?v=w4Kbq0VJEhY)

## Summary

George Kamel presents the debt snowball method as the most effective strategy for paying off debt, arguing it works because it addresses behavior rather than just math. He explains the four-step process and provides motivational tips for staying on track.

### Key Points

- **Best Debt Payoff Method Introduction** [00:00] — George introduces the debt snowball method, stating that users become debt-free in 18-24 months on average.
- **Why Debt Snowball Works** [00:32] — The method focuses on behavior, not just math, which helps people stay motivated. It is supported by research from Harvard Business Review.
- **How Debt Snowball Works** [02:46] — List debts from smallest to largest, pay minimum on all except the smallest, throw extra cash at the smallest until paid, then roll that payment to the next smallest debt.
- **Criticism of Debt Avalanche** [03:36] — The debt avalanche method (paying highest interest first) ignores behavioral psychology; quick wins from small debts provide motivation.
- **Personal Testimonial** [04:55] — George paid off $40,000 in consumer debt in 18 months using the debt snowball method.
- **FAQ: Same Interest Rate** [05:38] — Pay the debt with the smallest balance first to gain quick wins.
- **Staying Motivated** [06:08] — Create visual reminders, revisit your 'why', find accountability partners, and celebrate small wins.
- **Emergency Fund Pause** [07:28] — If an emergency arises, pause the debt snowball, rebuild the $1,000 starter emergency fund, then resume.
- **Using Savings for Debt** [08:15] — Liquidate non-retirement savings (except $1,000 emergency fund) to throw at debt. Do not touch retirement funds due to penalties.
- **Tithing While in Debt** [09:03] — For Christians, George advises continuing to tithe (10% off the top) while paying off debt, as it cultivates generosity.

### Conclusion

The debt snowball method is a proven behavioral strategy that helps people stay motivated and become debt-free in 18-24 months. With determination and small wins, anyone can crush their debt.

## Transcript

What's up guys George Camel here and today we're talking about the hands down absolute best way to pay off your debt and that is the debt snowball method now people who use this method on average are debt free in just 18 to 24 months
why how because it actually works unlike the ice cream machine and McDonald's but it's broken so today we're going to go over the debt snowball method and how it works so you can start knocking out your debt as fast as humanly possible.
Then you'll finally be able to start saving and investing for your future and who knows maybe one day you'll have enough money to buy your own McDonald's franchise and fix the dad gum ice cream machine. What's a guy got to do to get a sham rock shake with this happy meal huh is it that difficult and speaking of happy you know what would really put a smile on this bearded baby face you just hit that like button share this video and subscribe to this channel so you never miss another one of our delicious McVideos okay I'm I'm I'll stop you can't just add making fun of things okay it's not funny it's childish and it's immature and it's copyrighted McLoven what kind of a stupid name is that focal what are you trying to be an Irish R&D singer all right there's
a ton of conflicting advice out there about the best way to pay off debt some people are pushing debt consolidation which is where you combine your debts into one giant payment by taking out another loan to pay off your existing debts that's a big note from me think about this
for a second we're going to use more debt to pay off debt yeah not a good idea you're just shuffling your debt around okay you're just moving stuff to the junk drawer instead of actually cleaning it out so what you need is a plan to pay that junk off will need Bob to voice that
okay little more aggressive than I would have liked but the point was taken so there are two main ways people choose to pay off their debt one is what's
known as the debt avalanche method sounds epic right avalanches wrong with the debt avalanche you pay your debts off in order from highest interest rate to lowest interest rate regardless of the balance now this might sound like smart math but here's why it's not
debt isn't really a math problem is it it's a behavior problem and if you want to change your behavior and get out of debt you need to stay motivated and we're not debt paying robots we're humans we have feelings and faults in the occasional
urge to finance a foreign focus focus focus there's pizza on your focus so the way that you pay off your debt has to take this into consideration and that's why the debt snowball method is the best way to do it like I said earlier people who use this
method on average are debt free in just 18 to 24 months and it's not just Dave Ramsey and me saying this it's also researchers from the Harper business review this is a proven method that just works okay don't try to fix it it ain't broken so how does the
debt snowball method work well to put it simply you pay off your debts in order from smallest to largest balance regardless of the interest rate which gives me flashbacks to high school dodgeball because as the smallest one I was the easiest to take down but I put
up a heck of a fight now once that smallest debt is paid off you take that entire amount that was going toward that debt and apply it to the next smallest debt on your list and as you do this you gain momentum as you knock out each
remaining balance like a big beautiful snowball rolling down a freshly frosted hill next thing you know by the big bottom boom you're debt free so let's recap here's the debt snowball in four easy steps step one list your
debts from smallest to largest regardless of interest rate step two make minimum payments on all of your debts except for the smallest one step three throw as much extra money as you can on to that smallest debt until it's gone step four repeat until
each debt is paid in full now before you jump in the comments and start yapping about interest rates let me just say I don't want to hear it that's the debt avalanche method and we've already talked about it again this is not just about math it's about behavior about actually following
through all the way to the finish line you need those quick wins you need that momentum think about it if your largest debt is a student loan with a high interest rate do you know how long it's going to take to put a significant dent in that giant balance
and I think it's going to be a long long time yeah that's right rock a man you're not going to feel like you're winning for a long long time but when you use the debt snowball method you get quick wins sooner you pay off that
smallest debt super quick you're going to be jumping up and down like a trekkie who just met William Shatner at Comic-Con that debt is out of your life forever and that gives you something magical called hope and motivation and progress and then you're on to the next
one and the next and the next and suddenly you're putting hundreds of dollars a month toward your debts instead of tiny little minimum payments and trust me when you see that snowball actually working you'll be more likely to stick to it and
become debt-free faster you see when it comes to debt pay off you want to be fast and furious but you don't want to Tokyo drift back into debt the debt snowball method is a cornerstone of the Ramsey baby steps which is the plan that
I followed to go from negative network to net worth millionaire when I started this plan I had $40,000 in consumer debt between my student loans and my credit cards and after 18 grueling months of budgeting and living on less than I made and side hustling and
ubering and lifting and selling stuff and eating rice and beans or in my case link cuisines I paid off all 40,000 my consumer debt using the debt snowball method so consider this a testimonial this stuff works and here's a fun fact if you're using every dollar
which is the budgeting app that I use it makes this super easy for you because when you're entering your debts it automatically puts them in the right order for you from smallest to largest one less brain calorie to burn I get a lot of questions about the debt snowball method so I want to address some of those now in this video
instead of replying individually to a hundred fifty eight of you in the comment section question number one what do I do with two payments that have the same interest rate okay easy answer here we're ignoring the interest rate so just pay the one with the smallest balance first you want quick wins here that's what this is about question number two
how do I stay motivated when it's taking a long time great question the debt snowball can feel like a grime especially when you're chipping away at some of these bigger debts but most people are done within a couple of years but if you have a lot of debt it could take longer
like my friend and co-host of the Ramsey show Jade Warsaw it took her and her husband Sam seven years to pay off almost a half million dollars in consumer debt but it can be easy to get discouraged when you're eating rice and beans at home my friends are out out back steakhouse stuff on their
face with the blooming onion so here's some things you can do to keep up the momentum number one create a visual reminder of your money goal you can print out a tracker for your fridge put a sticky note on the bathroom mirror make your phone background your debt payoff journey whatever you need to do keep it visual and in front of you every single day number two revisit your
why you're doing this for a reason so think about that keep that front of mind maybe you want to change your family tree you want to avoid the mistakes your parents made you want to retire with dignity you want to be a homeowner you want to family one day and not be burdened by debt these are great reasons to get out of debt so keep your why front and center third find
people who can keep you motivated and accountable if you're surrounding yourself with broke people who don't care about your money journey or growing that's going to keep you broke so get around other people who are also growing get a friend who wants to budget with you on the weekends get your spouse on board and get them fired up about this join a financial
piece university class to get around other weird people who want to stop being normal and broke these are some great ways to get some community in your life and lastly stop comparing yourself to other people and acknowledge how far you've come this is a weird thing you're doing it's a hard thing you're doing so you've got to celebrate the little
winds stop comparing yourself to other people and acknowledge how far you've come celebrate the little winds stop worrying about what someone else did and where they're going on vacation on what cars are driving run your own race question number three should I pause my debt snowball if I have to use my emergency fund yes the debt snowball
falls into what we call baby step two in the Ramsey baby steps which means you have a thousand dollars saved up as a starter emergency fund to act as a little buffer between you and life and then you move on to dead payoff so if you have an emergency and you've got to use that starter emergency fund temporarily
pause the debt snowball just keep making minimum payments while you rebuild that fund as fast as possible and cover that emergency once you're back to a thousand restart that debt snowball question number four if I already have money saved should I put that toward my debt snowball love this question
so if you've got any non-retirement money saved up let's say in a savings account or you invested in some stocks outside of retirement you should sell those liquidate those and throw it towards your debt everything except that thousand dollar starter emergency fund so if you have twenty thousand dollars liquid cash ring it
down to a thousand and throw the other nineteen at your debt now notice I said non-retirement funds you do not want to liquidate retirement funds because those come with a huge tax hit and early withdrawal penalty but if you're worried about liquidating your savings and losing all that harder and money don't worry
we're gonna get you back to a fully funded emergency fund of three to six months of expenses once we're out of debt that's baby step three save up an emergency fund of three to six months of expenses question number five if I'm a Christian should I tie while getting out of debt I believe the answer is yes
and I know a lot of you are already you're run into the comments section going I can't believe he's telling people to give father in debt listen if you're not a person of faith this doesn't apply to you just keep scrolling just fast forward through this question but if you claim that you're a person of faith I think the Bible is very clear that we should be givers
that we should be generous now when we're at a debt now while we're in debt just give across the board so when you do your budget if you're a Christian type ten percent off the top that's your first fruits and then move on and attack the debt and I'm telling you it's not gonna hold back your debt snowball all that much
but it will change your heart forgiving and that habit will carry on through your wealth building journey and it's gonna make it that much richer and that much sweeter all right now that you know the debt snowball method is the best way to pay off your debt no more excuses
get that snowball rolling all off now I'll be honest it won't be a cake walk or a walk in the park or a piece of cake come to think of it there's not much walking or cake involved to your at all
it's gonna take some time and it's gonna take some effort but I've seen thousands of people including myself crushed their debt using this debt snowball method so trust me you can do it and it will be worth it so if you're ready to get started check out our debt snowball calculator
you can plug in your numbers and it will show you how fast you can be debt free it'll show your debt free date yep that's right your debt free date is just as predictable as the plot of a homerun movie so I'm gonna drop a link to that in the description below and let me know in the comments when your debt free date will be
and we'll all celebrate together have a little party as always make sure to subscribe to this channel like the video and share this with your friends who are currently at Outback Steakhouse stuff in their broke face with the Blooming onion you'll show them you're gonna buy everyone a Blooming
you know what a round of Blooming onions on you when you're debt free how's that thank you guys for watching we'll see you next time