Snowballing your debt payments is done by making your payments, as usual, until one of your debts is paid off, and then
taking the newly available money that is no longer going to that debt and using it to pay off the next debt on your list. Once the amounts from your first and second debts to the third debt on your list. Keep going in this manner until all your debts are paid off. Once your first debt is paid off, you will be amazed at how quickly the rest of your debtload lowers. You will see your debts paid off in record time.
April 18, 2009
