Snowball strategy

By:Carson ,and Jordan

How it works.

Its very simple, you pay off the small debt first and slowly work your way up to the larger ones.

Why is it called the snowball method?

When you were a kid, the best way to make a big snowball was to sart with a little snowball and roll it through the snow. eventually it would slowly build up.

Does it work?

once the smaller debts are paid off you will see progress. you will like the progress and stay with it and eventually all your debt will be paid off.

What does it work best for?

This method was designed for credit card debt, it works best if you have a lot of credit cards that need to be paid off.

Alternative option.

Another way to use the snowball method is just reversing it. you start with the larger debts and work your way down to the smaller ones, the only problem is you do not see results as quickly.