Snowball Method

The Snowball Method is a debt repayment strategy where you focus on paying off your smallest debt first while making minimum payments on others. Once the smallest debt is cleared, you move the money you were paying on that debt toward the next smallest debt, gaining momentum like a snowball rolling downhill. Over time, this approach builds psychological motivation as debts are eliminated faster, helping you stay committed and eventually become debt-free. It emphasizes steady progress and confidence-building through quick wins.