This is commonly referred to as the Debt Snowball. Every time you pay off a debt, the snowball grows larger picking up speed and size to help pay off the next debt. This method of paying off debt is the best method used because it keeps showing progress and helps you stay on track. Other methods that use interest rates and tax burden calculations show little progress and cause most people to give up because they don’t see the progress.
Post your Debt Pay Down Plan somewhere will you will constantly see it, like on your refrigerator. This will serve as a constant reminder of your goal to eliminate debt and a constant reminder of the debts you already crossed off the list.
Debt Pay Down Plan
