Saturday, May 1, 2010

Debt Snowball

The best way to pay off debts is the Debt Snowball. (Thanks, www.DaveRamsey.com).

I like the little to big balance theory. Don’t pay attention to the interest rate, we are after momentum and progress.

Pay off the smallest balance first, then roll the amount you paid on that balance to the next one. See, it snowballs and the payments get bigger and bigger and the balances get smaller and smaller.
More Debt Management

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