Debt Snowball

debt snowball form, debt snowball spreadsheet

Debt Snowball Calculato

The Debt Snowball Calculator is a wonderful tool for helping people become debt free. Each one of us is likely to incur debt at some point in our life. It is even probable that circumstances compel us to get indebted a great deal.The scenario becomes even worse when that debt is accompanied with an exorbitant interest rate. In such situations worrying until your hair is gray is not much help. The most effective strategy we know of is the debt snowball. There are actually two methods of using the debt snowball calculator: focusing on the smallest debt or the highest interest rate. In a side by side comparision, people succeeded more often by paying off the smallest debt because they stayed motivated. However, paying off the highest interest debt using the same concept actually paid off the debt faster.

How Does The Debt Snowball Calculator Work?

Imagine a snowball rolling down hill getting bigger, gaining momentum, and wiping out your debts. The first step is to save money. We have a lot of useful tools to help you save money every month like trading cable for Hulu and Netflix, cancelling your home phone if you have a cell phone, avoiding Starbucks, eating cereal for lunch, etc. Once you have some extra money to contribute to paying of your debt every month, start paying off the smallest amount, moving on to the bigger ones and eventually you’ll realize someday that all of your debts have been paid off successfully. We actuall do have a great calculator and we'd be happy to send it to you. Just request information below.

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