How The Debt Snowball Really Works (Free Tool Included For YOUR Debt Snowball!)

The Debt Snowball

Want to get out of debt fast? Then commit to the debt snowball.

You might be thinking, “Oh yeah, yeah, I’ve heard of the debt snowball. It makes sense – you pay off your debts one at a time until they’re gone. I got it.

No, you missed it. You missed it entirely.

How the Debt Snowball Works

The debt snowball is about more than just paying down your debts one at a time. There are three major elements to the debt snowball:

Your initial lump-sum contribution Your contribution each month Laying out your debts – from smallest to largest

And you know what? Interest rates have pretty much nothing to do with the debt snowball. Do you know why? Because paying off debt is 80% emotional and 20% logical. Paying off debt is more about immediate progress than it is about math. All you nerds out there, just trust . . . → Read More: How The Debt Snowball Really Works (Free Tool Included For YOUR Debt Snowball!)