What is the snowball method of paying back debt?
1Description
The snowball method is based on the idea of paying off your smallest debt first, while making minimum payments on the rest.
Then, you take the money you were paying on that debt and apply it to the next smallest debt, and so on until you’re debt-free. This way, you create a snowball effect that builds momentum and motivation as you see your debts disappear one by one.
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