How To Guide For: Understanding The Debt Snowball Method And How You Can Use This Method To Pay Off

The snowball method of debt repayment is a form of debt management that is most often applied to repaying revolving credit — such as credit cards. Under the snowball method, extra cash is dedicated to paying debts with the smallest amount owed. Now that we know what the debt snowball method is how does one apply it. To apply this method you need to first list all of your debts in order. Then pay off the accounts starting with the smallest balances first, while paying the minimum payment on larger debts. Once the smallest debt is paid off, then you should proceed to the next slightly larger small debt above that, and keep working your way from there while gradually proceeding to the larger ones later. To learn more about the debt snowball method and how you can use this method to pay off your debt -- click the pictures below to read the articles.