Debt snowball explained in 60 seconds
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How to use the snowball method to eliminate consumer debt
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The debt snowball method is the fastest way to pay off your debt. It’s how I paid off $40,000 of consumer debt in just 18 months! And if it worked for me, it’ll work for you too. The debt snowball explained in 4 easy steps! Step 1: List your debts from smallest to largest (regardless of interest rate). Step 2: Make minimum payments on all your debts except the smallest debt. Step 3: Throw as much extra money as you can on your smallest debt until it’s gone. Step 4: Repeat until each debt is paid
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The debt snowball method is the fastest way to pay off your debt!Step 1: List your debts from smallest balance to largest.Step 2: Make minimum payments on all debts except the smallest, throwing as much extra money as you can at that smallest debt.Step 3: Repeat the process with the next smallest debt until they’re all paid off. The more you pay off, the more money you can throw at your next payment—like a snowball rolling downhill, getting bigger and faster as it goes! | George Kamel
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