In theory, this is exactly how the snowball method of debt repayment works. Using the same budget and examples as above, you would prioritize paying your debt from the smallest balance to largest ...

They create a visual roadmap so you know exactly how adjustments in payments can speed up your journey to being debt-free.

Does Dave Ramsey always get it right? If you're following his Baby Steps, check out three pieces of advice you should ...

Starting your debt-free journey generally begins with simple steps such as sticking to a budget and gradually working towards ...

Paying off the smallest balance first Then, there's the snowball method of debt repayment, which involves paying off the card with the smallest balance first and working your way up. The theory is ...

Let's say you have three credit cards with balances of $1,000, $2,000, and $3,000. You would pay as much as possible to the ...

READ: How a Bible verse transformed my approach to personal finance The debt snowball strategy is about focusing on paying off your smallest debt first, while making minimum payments on the others.

You can also search online for a debt avalanche or debt snowball calculator that calculates your payoff plan. Some calculators can help you create a spreadsheet that will make it easier to track ...

identify extra money that you can allocate toward your debt. Next, try the debt avalanche or debt snowball method for paying off your debt. A debt consolidation loan may also be right for you ...