-
What is the Debt Snowball Method?
The debt snowball method is a popular debt repayment strategy that involves paying off your debts in order from smallest to largest, regardless of interest rates. Here’s how it works: 1. List out all of your debts from smallest to largest, along with their minimum monthly payments and interest rates. 2. Make minimum payments on…
-
Here are 10 effective ways to pay off debts:
1. Create a budget: The first step to paying off debt is to create a budget that accounts for all your income and expenses. This will help you identify where you can reduce your spending and increase your debt payments. 2. Use the debt snowball method: This strategy involves paying off your smallest debt first…