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Let’s discuss the Debt Snowball Method, a powerful strategy for paying down debt! This approach involves tackling your smallest debts first, regardless of their interest rates. While it may not be the most mathematically efficient method, it can provide a psychological boost by creating small wins along the way. By starting with your smallest debt and gradually working your way up, you’ll gain momentum and motivation to keep paying off your debts. Remember, the feeling of financial freedom is ev

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 in f

Free Debt Snowball Spreadsheet

Have you heard of the snowball method? It’s a debt repayment strategy (made popular by Dave Ramsey) that focuses on paying off your smaller debts FIRST. Here are the steps: ❄️ Step 1: Create a list of all of your debts, excluding your mortgage. Sort the debts in order from smallest to largest balance. ❄️ Step 2: Each month, pay the minimum amount on each balance, except the smallest one — review your budget and figure out how much money you can put toward your smallest balance ( put as much cash

Debt Snowball vs. Debt Avalanche: Which One is Better?

Free Printable Debt Snowball Worksheet To Payoff Debt In 2024