Many people struggle with budgeting, debt, saving, or knowing how to manage their finances day-to-day. The good news is that you don’t have to figure it all out on your own. Financial counseling offers support, education, and practical strategies to help you take control of your financial life, no matter where you are starting from.

What is Financial Counseling?

Financial counseling is a service designed to help individuals and families improve their financial well-being. A financial counselor works with you one-on-one to:

• Understand your current financial situation
• Set achieveable goals
• Create realistic spending and savings plans
• Manage or eliminate debt
• Build credit health
• Increase financial confidence

Unlike financial advisors who often focus on investment strategies or wealth management, financial counselors focus on the basics: budgeting, credit, debt, and day-to-day financial decisions.

What does a financial counselor do?

• Budgeting: creating a personalized spending plan that works for your income and lifestyle
• Debt managament: exploring repayment options, negotiating with creditors, and avoiding common pitfalls
• Credit repair: understanding your credit report, improving your score, and avoiding damaging behaviors
• Emergency preparedness: building savings and planning for unexpected expenses
• Financial education: providing guidance tailored to your goals and life stage

Who can benefit from financial counseling?

Everyone can benefit from financial counseling, but especially:

• People living paycheck to paycheck
• Individuals or families struggling with debt
• Students or young adults learning how to manage money
• Recently divorced or widowed individuals managing money solo
• Anyone who feels overwhelmed or uncertain about their financial decisions

Whether you are facing a financial crisis or want to gain more control and peace of mind, financial counseling meets you where you are.

What to expect in a counseling session

A session typically includes:

1. A confidential review of your financial situation

2. Setting financial goals based on your priorities

3. Developing a realistic action plan

4. Ongoing support and accountability, if needed

No lectures. No shame. Just support, strategy, and encouragement

Ready to take control of your finances?

Taking that first step can feel intimidating, but it’s also incredibly empowering. Whether you are trying to reduce stress, pay off debt, or plan for the future, financial counseling can be a turning point. Contract Walters Financial Wellness or a consultation today! Your future self will thank you!

Divorce is one of the most emotionally challenging life events that a person may go through. With all of the strong emotions a person may feel, it’s easy to forget the financial side of things. Divorce can be a financially complex period in your life. Whether you are in the middle of the process or just starting to think about it, taking the right financial steps can help you protect your future and reduce unnecessary stress. 

Before divorce

The goal is to protect assets, gather information, and prepare for change

1. Collect all financial records

• Bank statements (checking, savings, CDs)
• Retirement accounts (401(k), IRA, pensions)
• Debt records (credit cards, loans, mortgage)
• Tax returns for the 3-5 years
• Pay stubs and income records

This documentation will help you and your attorney get a full financial picture

2. Open accounts in your name

• Open your own checking and savings account
• Apply for a credit card in your name (if you don’t already have one) to establish independent credit

3. Check your credit report

• Get free reports at www.annualcreditreport.com from all three bureaus
• Look for accounts you didn’t know about and monitor your credit score

4. Create a post-divorce budget

• Estimate your new income and expenses
• Factor in housing, insurance, childcare, and other essentials
• Identify where you might need to cut costs or increase income

5. Consult professionals early

Getting advice early can help you avoid costly mistakes

• Divorce attorney
• Certified Divorce Financial Analyst (CDFA)
• Financial counselor (Hi there!) for budgeting and debt management

After divorce

The focus shifts to rebuilding, protecting, and planning ahead

1. Separate all joint accounts

• Remove your ex-spouse from joint credit cards and loans
• Close or refinance joint debt if possible

2. Update all beneficiaries

• Retirement accounts, life insurance, and even your will may still list your spouse.
• Make sure these reflect your new wishes

3. Rebuild your emergency fund

• Aim for 3-6 months of expenses
• Start small if needed. Automating even $20/week can help

4. Review health and life insurance

• Ensure you and your dependents have adequate coverage
• Explore options through your employer or private providers

5. Plan for long-term goals

• Revisit your retirement plan
• Adjust savings for college funds if you have children
• Consider new investment strategies that fit your single-income lifestyle

Need more help?

A divorce changes your financial life forever, but it doesn’t have to derail your future. By taking proactive steps before and after your split, you can protect your assets, rebuild your credit, and regain a sense of control. 

At Walters Financial Wellness, I help clients navigate big life transitions like divorce. I provide clear strategies and compassionate support. If you are facing this change, know that you don’t have to do it alone. Contact me for a consultation!

Many people think that the only way to build credit is to take on debt. But, here’s the truth: you don’t need to carry a balance or borrow large amounts to have a great credit score! With the right strategies, you can grow your credit history while keeping your finances safe and interest-free.

Understanding your credit score helps you focus on what matters most. Here are the categories that credit bureaus use:

• Payment history (35%)
• Amounts owed/Credit utilization (30%)
• Length of credit history (15%)
• Credit mix (10%)
• New credit/ Inquiries (10%)

Step 1: Use a credit card, but pay in full every month

• Open a low-limit credit card (secured if neccessary)
• Use it for small, planned purchases like a monthly subscription
• Set up automatic payments for the full balance to avoid interest
• Keep your credit utilization under 30% (think: less is better!)

Step 2: Consider a secured credit card

If you are just starting out or rebuilding credit, a secured credit card can be your best option.

• You put down a deposit (e.g., $200) as your limit
• Use it like a regular card, pay in full, and build your score safely

Step 3: Consider a credit builder loan

Some banks and credit unions offer credit builder loans:

• You “borrow” a small amount (e.g., $300-$1000) that’s held in a savings account
• You make monthly payments, and when it’s paid off, you get the money back
• It’s a low-risk way to create positive payment history

Step 4: Report the bills you already pay

• Use services like Experian Boost, Self, or RentTrack to report rent, utilities, and streaming services to credit bureaus
• This adds positive payment history without taking on debt

Step 5: Become an authorized user

If a trusted friend or family member has a credit card with good history:

• Ask if they can add you as an authorized user
• Their positive history can help boost your score, without you needing to use the card at all

Set 6: Avoid bad habits

• Never max out your credit cards
• Avoid applying for too many accounts in a short period of time
• Pay every bill on time

Final thoughts:

You can build strong credit without going into debt. It’s all about using credit stategically, not emotionally. By paying in full, keeping balances low, and using tools like rent reporting or credit builder loans, you can create a healthy score that opens doors to better rates, rental approvals, and job opportunities.

At Walters Financial Wellness, I guide clients in building credit with confidence. There is no need to fall into the debt trap. If you need help, contact me today!

Note: Experian Boost, Self, or RentTrack are not sponsors.

If life has taught us anything, it’s that surprises happen. Surprises like car repairs, medical bills, and job changes, just to name a few. Without a financial cushion, those surprises can turn into stressful situations. That’s where an emergency fund comes in. But, fear not, an emergency fund is not about saving thousands of dollars overnight; it’s about building a safety net, one step at a time. And yes, you can start even when money feels tight.

Step 1: Set a realistic first goal

If the recommended 3 months of expenses feels impossible, don’t panic!

• Start with $500 or $1000, as your first milestone
• Once you hit that goal, you can keep building toward 1-3 months of living costs
• Think of it as layer of security. You are adding a layer of protection, bit by bit.

Step 2: Make it separate & easy to access

Your emergency fund should be:

• Separate from your checking account, so you aren’t tempted to spend it
• In a high-yield savings account or money market account (as 2 suggestions). DO NOT put it in the stock market or in a retirement account.
• Accessible without penalties

Step 3: Pay yourself first

Treat your emergency fund like a bill you can’t skip.

• Even $10 or $20 a week adds up over time
• Automate transfers from your checking to savings, every payday
• If you get extra income such as tax refunds, bonuses, or a gift, put part of it straight into your emergency fund

Step 4: Find “hidden” money in your budget

You might already have more wiggle room than you think. Every $5-$50 can move you closer to your goal. Try:

• Canceling unused subscriptions
• Packing lunch instead of eating out once a week
• Switching to a lower-cost phone or internet plan
• Selling items that you no longer need

Step 5: Use it only for real emergencies

Define what you will use your emergency fund for, so that you are not tempted. It’s not for holidays, new gadgets, or because you really want something. Some ideas are:

• Job loss or income drop
• Urgent car or home repairs
• Medical or dental emergencies
• Unexpected necessary travel

Step 6: Rebuild after you use it

If you have to dip into your emergency fund, that’s okay. That is what it is there for! Just make a plan to start replenishing it right away.

Need more help?

Building an emergency isn’t about how much you make, it’s about making it a priority. Even if you start with pocking change, you are creating a safety net that will protect your peace of mind. 

At Walters Financial Wellness, I help clients find practical ways to save, without feeling deprived. As a result, my clients are able to breathe easier when life throws them curveballs. If you want that same freedom, make an appointment today!

Student loans can feel like a heavy weight, especially when you’re trying to build a stable financial future. Whether you are fresh out of school, back in repayment after a pause, or still trying to make sense of it all, you are not alone. 

At Walters Financial Wellness, I believe that knowledge is power and that you deserve a clear, non-judgmental understanding of your options. Let’s break down all of it together: the types of student loans, how repayment works, and what forgiveness options may be available to you.

Know what type of loan you have

There are two main types of student loans:

1. Federal student loans (from the U.S. government)

• Common types include: direct subsidized loans, direct unsubsidized loans, PLUS loans, and consolidation loans.
• These are the most common loans and offer lower interest rates, income-driven repayment plans, and loan forgiveness options.
• You can check your federal loan info at www.studentaid.gov

2. Private student loans (from banks or lenders)

• These have higher, variable interest rates and fewer repayment and forgiveness options
• Check with your lender or servicer to see what you have.

Understand repayment options

If you have federal loans, you have several repayment options:

1. Standard repayment

• Fixed payments over 10 years
• You’ll pay less interest over time
• Best for those who can afford a higher monthly payment

2. Graduated repayment

• Payments start low and increase every two years
• Still paid off in 10 years
• Good if your income is expected to grow

3. Income-driven repayment (IDR)

• Payments are based on your income and family size
• Terms range from 20-25 years
• Any remaining balance may be forgiven after the term
• Types: Saving on a Valuable Education (SAVE), Pay As You Earn (PAYE), Income-Based Repayment (IBR), and Income-Contingent Repayment (ICR).
• These plans can help make payments manageable and even $0 in tough months

Explore forgiveness & cancellation

Student loan forgiveness is unclear at the moment, but there may be some options available to you that depend on your job, loan type, and payment history. To find out more information about applying for forgiveness or cancellation, visit: www.studentaid.gov.

1. Public Service Loan Forgiveness (PSLF)

• Available for government and paid nonprofit workers
• Forgives balance after 120 qualifying payments on an IDR plan
• Must have direct loans and be enrolled in an eligible repayment plan

2. Teacher loan forgiveness

• Up to $17,500 forgiven for eligible teachers in low-income schools
• Requires 5 years of full-time teaching 

3. Borrower defense to repayment

• For borrowers who were mislead by their school

4. Total and permanent disability discharge or death discharge

• Loans may be discharged if the borrower becomes permanently disabled or passes away.

Consolidation or Refinancing

1. Loan consolidation (federal only)

• Combines multiple federal loans into one
• Can simplify repayment and make loans eligible for forgiveness
• Interest rate is the weighted average (not lowered)
• IMPORTANT: Consolidating may restart your forgiveness clock

2. Refinancing (private or federal loans)

• Done through a private lender
• Can reduce interest rates, but removes federal protections and forgiveness options
• Best for those with stable incomes and good credit

What to do if you are struggling

You are not alone and you do have options:

• Forbearance or deferment: temporarily pause payments (interest may still accrue)
• Recertify IDR plans annually: your payment may adjust if your income changes
• Contact your loan servicer: They want to help you stay on track. They will let you know what options you may have. 

Walters Financial Wellness

Student loans can feel confusing, frustrating, and overwhelming, but you don’t have to figure it out alone. You deserve clear answers and realistic options, without pressure or shame. I help clients understand their loans, create manageable plans, and explore forgiveness opportunities. Student debt should never be a life sentence, contact me today for a consultation!

Your credit score can feel like a mysterious number that decides your financial fate, but it doesn’t have to be that way. Whether you are trying to rebuild after a setback, planning to buy a home, or just want to feel more confident with your money, understanding how your credit score works is the first step to taking control. 

Let’s break down what the credit bureaus look at, how scores are calculated, and what you can do to boost your score, without being overwhelmed.

What is a credit bureau?

There are three major credit bureaus in the U.S.: Equifax, Experian, and TransUnion. These companies collect and track your credit history. They look at loans, credit cards, payment patterns, and more. Lenders then use these reports to decide:

•  Whether to approve you for credit
• What interest rate to offer
• How much credit you qualify for

Each credit bureau may have slightly different information, which is why your credit score can vary depending on which is being used.

What makes up your credit score?

Most lenders use the FICO score, which ranges from 300-850. Here is how it breaks down:

1. Payment history (35%)

2. Amounts owed (30%)

3. Length of credit history (15%) 

4. Credit mix (10%)

5. New credit inquiries (10%)

You can find out more information about credit scores from my Previous article, “Understanding Your Credit Score.”

Common myths about credit scores (and the truth)

1. The myth: “Checking your score hurts it”

     The truth: Checking on your own credit scores is a “soft inquiry.” It won’t affect your score at all.

2. The myth: “You need debt to build credit”

     The truth: you need credit, not debt. Using credit wisely ( and paying it off) builds your score.

3. The myth: Paying off collections erases the record”

     The truth: Paid collections may still appear on your credit report, but you can improve your score over time.

Simple ways to improve your credit score

• Always pay at least the minimum by the due date
• Try to keep your balances low
• Don’t close old accounts in good standing 
• Only apply for new credit when necessary
• Check your credit reports for free at www.annualcreditreport.com and dispute any errors

Walters Financial Wellness

Your credit score is not a judgement of your worth. It’s just one tool in your financial toolbox. Just like any other tool, you can learn how to use it with skill, even when you have had past setbacks. I help people understand their credit without shame or stress. Whether you are starting out, rebuilding after a hardship, or just want to make smarter moves, I’m here to support you. Make an appointment today!

Have you ever looked at your paycheck and thought, “Wait… where did all my money go?” You are not alone. For many people, paychecks feel confusing and even frustrating. Once you understand what all those deductions and taxes mean, you’ll feel more in control of your money. Here is a simple breakdown of your paycheck:

Gross pay vs. net pay

Let’s start with two important terms:

• Gross pay= what you earn before anything is taken out
• Net pay= what you take home after deductions (your REAL paycheck)

Your budget should always be based on net pay, because that’s what you actually have to work with.

What gets taken out of your paycheck?

Here are a few common types of deductions:

1. Federal income tax

This is what you pay the federal government based on your income. The amount depends on:

• How much you earn
• Your tax filing status
• The number of allowances/dependents you claimed on your W-4 form

Good to know: This tax helps pay for things like Social Security, defense, and infrastructure. You can adjust your W-4 at any time to update your withholdings.

2. State & local income tax

Not every state has an income tax, but if your does it will be listed as a separate deduction. Some cities and counties also collect income tax.

3. Social Security Tax (FICA)

This is 6.2% of your wages and goes toward the Social Security program that pays retirement and disability benefits. Your employer also pays 6.2% on your behalf.

4. Medicare Tax (FICA)

This is 1.45% of your wages and helps fund the Medicare program for seniors and people with disabilities. You employer also pays 1.45% on your behalf.

5. Health insurance premiums

If you get health, dental, or vision insurance through work, the amount you pay for your coverage usually deducted automatically. Look for the like items like: Medical, dental, and vision. These are often pre-tax deductions, which can lower your taxable income.

6. Retirement contributions (like a 401(k))

If you are contributing to a workplace retirement plan, it will show up as a deduction.

• Traditional 401(k)= pre-tax (lowers your taxable income now)
• Roth 401(k)= post-tax (no tax break now, but tax-free later)

7. Other deductions

You might also see:

• Thrift Savings Plan (TSP), if you are in the military
• Life insurance
• Disability insurance
• Union dues
• Wage garnishments
• Flexible Spending accounts (FSA) & Health Savings Accounts (HSA)

Why does my friend with the same job bring home more?

Even if you earn the same hourly wage or salary, your take-home pay could differ based on:

• The number of dependents you claim
• Whether you’re contributing to a 401(k)
• Health insurance plans
• Local tax rates
• Other voluntary deductions

That’s why it’s important to review your pay stub, not just compare checks.

What you can do with this info

Once you understand your deductions, you can make more intentional choices:

• What to increase take-home pay? Review your W-4 or pause retirement contributions temporarily (if needed).
• Want to save more? Increase your 401(k) contribution gradually.
• Feeling lost? Ask HR for a breakdown of your pay stub or work with a financial counselor to review it together.

Understanding your paycheck isn’t just about numbers, it’s also about confidence. When you know where your money is going, you can start making empowered decisions about how to use it, save it, and plan for the future. 

At Walters Financial Wellness, I help clients take the mystery (and stress) out of money, starting with basics like your paycheck. Need help reviewing your pay stub or creating a budget based on your take-home pay? Let’s talk. Make a consultation today.

Hearing from a debt collector can feel terrifying. Maybe it was a call, a letter, or a notification that popped up out of nowhere. Whether you expected it or not, it’s easy to feel panic, shame, or even freeze up completely. But here is the truth: you still have options. You still have rights. And, you can move forward. Take control of the situation without fear.

A short guide to take control

Step 1: Don’t ignore it 

It’s tempting to avoid collection notices, especially if you don’t know how you’ll pay. But, ignoring the situation can make things worse, resulting in added fees, legal action, or damage to your credit.

Take a breath. You don’t need to fix everything today. Do open the letter or take note of the call, so you know what you are up against.

Step 2: Get the facts

Debt collectors must provide proof that the debt is real and that they have a legal right to collect it. This is called “debt validation.” You have a right to request it.

Ask for a written notice that includes:

• The amount of debt
• Who the original creditor is
• Your rights under the Fair Debt Collection Practices Act (FDCPA)

If you are unsure, send a debt validation letter within 30 days of first contact. 

Step 3: Know your rights

Debt collectors must follow federal (and state) laws. You are protected from harassment and dishonesty under the Fair Debt Collection Practices Act (FDCPA).

They cannot:

• Call you before 8 a.m. or after 9 p.m.
• Call you at work if you have asked them not to
• Threaten arrest or legal action  they can’t take
• Use abusive language or repeated harassing calls

If any of that happens, keep records and report them.

Step 4: Check if the debt is past the Statute of Limitations

Every state has a statute of limitations (usually 3-10 years) for collecting debts. After this period, the collector can still try to collect, but they cannot sue you.

WARNING: If you make a payment or agree the debt is yours, it could restart the clock. Always verify the age of the debt before you agree to anything.

Step 5: Decide how to respond

• Option 1: Negotiate a settlement or payment plan

You may be able to settle the debt for less than the full amount. If so: 

1. Get everything in writing before sending payment
2. Don’t give access to your bank account. Use a money order or prepaid card
3. Only agree to a monthly amount that you can afford

• Option 2: Dispute the debt

If the debt is not yours or the amount is wrong, you can dispute it in writing. Provide documents that support your claim.

• Option 3: Do nothing (strategically)

If the debt is too old to be legally enforced or is incorrect, you may decide not to pay it. This doesn’t erase it from your credit report, but it may be the smartest move depending on your situation.

Step 6: Don’t let one debt define you

One collection account doesn’t mean you’ve failed or are irresponsible. Life happens and you are taking action now. That is all that matters! 

Collections doesn’t have to feel scary

Collections are not permanent and they don’t define your worth. You are still in control of your next step

Want to feel more confident with you money? You can:

• Start building a small emergency fund
• Make a simple budget
• Talk to a financial counselor (like me?) for support and strategy.

At Walters Financial Wellness, I’m here to help you navigate debt with dignity and confidence. You don’t have to face it alone. Whether you are overwhelmed, unsure what to say to collectors, or just need a plan, I’m here to walk beside you.

Let’s be honest, budgeting gets a bad rap. A lot of people think of it as restrictive, boring, or only for people who are “bad with money.” But here’s the truth: budgeting is simply a tool to help you tell your money where to go, instead of wondering where it went. That said, it’s easy to fall into a few common traps that make budgeting feel frustrating or pointless.

10 common budgeting mistakes & how to avoid them

1. Not budgeting at all

• This may be the biggest mistake that people make; not having a budget in the first place. Many people avoid making a budget because they are afraid to face the numbers or think that they don’t make enough to bother.

Fix it: Start small. You don’t need to track every penny in the beginning. Just write down your income and top 3 expenses. You can build from there.

2. Being too strict

• If your budget leaves zero room for fun, flexibility, or unexpected expenses, it won’t last long. Life happens, and your budget should be able to change with it. 

Fix it: Add a “miscellaneous” or “entertainment” category to your budget. Even $20 a month can make your budget feel more sustainable.

3. Forgetting irregular expenses

• Have you ever had a car repair, school fee, or birthday gift throw off your entire budget? That is the result of not planning for those non-monthly expenses.

Fit it: Look back over the past year and list out your irregular or seasonal expenses. Set aside a small amount each month in a “sinking fund,” so that you are ready when an irregular expense pops up.

4. Guessing at the numbers

• It’s tempting to just estimate your income and expenses, but you can be way off. Guessing can lead to overspending without even realizing it.

Fit it: Pull up our last 1-2 months of bank statements and write down the actual numbers. Your budget should reflect your reality, not your hopes.

5. Not tracking spending

• Creating a budget is only half your job. You also have to check in with it, daily (ideally). If you are not tracking, you won’t know what’s working, and what’s not.

Fix it: Use a simple app, notebook, or spreadsheet to track weekly spending. A quick check-in once or twice a week can make a huge difference.

6. Leaving out small purchases

• Those $6 coffees and snacks don’t seem like a big deal, but they add up fast.

Fix it: Track everything for one month, no matter how small. You might be surprised where your money is really going. Once you know, you’ll be more in control!

7. Trying to do it all at once

• Some people try to pay off debt, build savings, cut expenses, and change all of their habits at the same time. That’s a fast track to burnout.

Fix it: Pick one priority to start with and move from there. When that feels steady, move to the next. Small, consistent steps create real progress.

8. Copying someone else’s budget

• Your life isn’t like anyone else’s, so your budget shouldn’t be either. What works for your favorite influencer or friend may not work for you.

Fix it: Focus on your values, income, and lifestyle. A good budget reflects what you care about, not just what looks good on paper.

9. Not including fun or self-care

• If your budget doesn’t leave room for joy, you’ll resent it and probably abandon it.

Fix it: Include things that make you feel good. Whether you include a streaming service, a monthly treat, or a small savings goal for something special, it will help you stay motivated because you are making your budget work for you!

10. Giving up too quickly

• Budgeting is a skill, not a one-time fix. It takes a few months (and perhaps some adjustments) to get it working smoothly.

Fix it: Treat budgeting like a workout routine. If might feel awkward at first, but it gets easier the more you practice. Be kind to yourself and stick with it.

Budgeting is not about restriction

Budgeting is about intention, not restriction. It’s a tool that puts you in the driver’s seat or your financial life. You are intentionally deciding where your money will go. You don’t have to do it perfectly. You just have to keep don’t it. 

Need help building a budget you can stick with?

At Walters Financial Wellness, I help people create budgets that actually work for them. Budgets that feel doable, flexible, and aligned with their real life (not someone else’s). Let’s work together to create a plan that fits your goals, values, and lifestyle. All without guilt or feeling overwhelmed!

If you have ever felt overwhelmed by debt, you are not alone, you are not stuck, and there is a way forward. One of the best things you can do to regain control of your finances is to choose a debt payoff strategy that fits you.

Two of the most popular methods are the “Debt Snowball” and the “Debt Avalanche.” Both work and have helped thousands of people become debt-free. Let’s walk through each, discussing what they are, how they work, and the pros and cons of each.

Debt Snowball Method

The Debt Snowball Method focuses on paying off your smallest debt first, regardless of the interest rate. You make the minimum payment on all of your debts, and any extra money goes toward the smallest balance. Once that smallest debt is gone, you take what you were paying on it and roll it into the next smallest debt, continuing until you have paid off all of your debt. Like a snowball, your payment grows larger with each debt you eliminate.

• Focus: Smallest balance first
• Motivation Boost: quick wins build momentum
• Total Interest Paid: slightly more 
• Best for: People who need motivation and wins
• Emotional Benefit: Builds confidence early
• Pros: fast emotional wins, builds confidence and momentum, and easy to stick with when motivation is low
• Cons: You may pay more in interest and not always the fastest path to zero debt

Debt Avalanche Method

The Debt Avalanche Method focuses on interest rates instead of balance size. You list your debts from the highest interest rate to the lowest, and put any extra money toward the highest interest debt first. This method saves you more money in the long run by reducing the total interest you pay.

• Focus: Highest interest rate first
• Motivation Boost: Slower start, but more efficient
• Total Interest Paid: Less (saves more money long-term)
• Best for: People focused on math and savings
• Emotional Benefit: Requires more discipline up front
• Pros: Saves the most money in interest and typically faster in total payoff time
• Cons: Progress can feel slow at first and requires more discipline to stay on track

The best method is the one you can stick with

Here is the truth: The best method is the one you can stick with. But, if you need more help choosing, this may help. If you are feeling discouraged or overwhelmed the Snowball method might be your best choice. It gives you quick wins and helps you feel accomplished early on. If you are laser-focused on saving money or you have high-interest debts that are costing you a lot, then the Avalanche Method may be smarter financially. And, if you want the best of both worlds? Start with the Snowball Method for motivation, then switch to the Avalanche Method once you have built some momentum. Doing so is completely okay!

Need help choosing the right plan or sticking to a plan?

There is no shame in how you got into debt and there is no one “perfect” way out. Whether you start with your smallest balance or highest interest rate, what you are really doing is saying, “I believe I can take control of this!” And that belief? That’s the start of something powerful! What  really matters is that you take the first step, keep growing, and become empowered! 

At Walters Financial Wellness, I offer personalized coaching to help you tackle debt with confidence and compassion. You don’t have to do it alone. Together, we’ll create a strategy that works for you life, not against it! Reach out anytime to start your debt-free journey.