But, let’s say you happen to have a little surplus lying around of an additional $25, then you can use this to square off your $50 debt. The first step would be to pay the minimum payment required on the lowest amount which, for example, is $25. Let’s say, for example, you have four debts to pay off with the smallest amount being $50, the next $100, the next $150 and the last being $200. With the Debt Snowball Method, you pay off your smaller debt obligations first, thereby freeing up funds to pay off the larger amounts next until such a point where you are debt free for good. Why the Debt Snowball Method Is So Powerful
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