Quiz – Debt Payoff Strategies

Question 1 of 6

1. Question

The Snowball Method attacks debts in what order?

Smallest balance to largest

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Highest interest rate first

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Newest debt first

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Random order each month

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Question 2 of 6

2. Question

The Avalanche Method targets:

The highest-interest debts first

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The smallest balances first

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The oldest debts first

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Whichever debt is easiest to ignore

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Question 3 of 6

3. Question

Which method minimizes the total interest you pay?

The Avalanche Method

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The Snowball Method

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Paying only minimums

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Skipping payments

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Question 4 of 6

4. Question

Which method builds psychological momentum through quick wins?

The Snowball Method

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The Avalanche Method

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Debt consolidation only

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Ignoring the smallest debt

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Question 5 of 6

5. Question

Which researchers are cited for showing that small wins trigger dopamine?

Thaler and Shefrin

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Kahneman and Tversky

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Fisher and Keynes

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Warren and Ramsey

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Question 6 of 6

6. Question

Match each method or profile to its feature.

Sort elements

Smallest balance first for momentum
Highest interest first to save money
Best suited to Snowball
Best suited to Avalanche

Snowball Method

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Avalanche Method

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Motivation-driven person

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Mathematically-minded person

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