@daveramsey: What’s the fastest way to get out of debt? The quickest way to make your debt-free dream a reality is to use the debt snowball method. Sure, it might appear that paying off the debt with the highest interest rate first makes the most sense—mathematically. Wouldn’t that save you the most money? Yes and no. If you begin with the biggest debt, you won’t see traction for a long time. You might think you’re not making fast enough progress and then lose steam and quit before you even get close to finishing. It’s important to pay your debts in a way that keeps you motivated until you’ve wiped them out. Getting quick wins in the beginning will light a fire under you to pay off your remaining debts! Listen—knock out that smallest debt first, and you will find the motivation to go the distance. #debt #debtfree #debtsnowball #moneytok #moneytips #creditcarddebt #daveramsey
What if you only have one credit card with a significant balance on it??
2026-09-13 11:58:59
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That NB Logger 🪵 :
Started on the $8500 credit card! Down to $3200 in 3 months only paying with side hustle money!!! hopefully be $0 in 2 more months!
2025-05-27 01:15:15
607
simirave :
go bankrupt and start again lifes like a game of monopoly
2025-04-28 06:28:42
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Spursgirl :
Do you close credit cards?
2025-05-08 03:08:27
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CrazyOldLady :
Don't start with the smallest, start with the one-half has the HIGHEST INTEREST RATE
2025-06-06 00:13:07
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Amber :
not true. I paid the little one off and it did nothing to my credit
2025-06-04 23:18:19
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ChristyB007 Christy :
Did you ever draw for May winners?😄
2025-06-24 02:01:50
2
championman203 :
dang. my smallest debt in 83k🤨
2025-05-28 19:55:37
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Brad :
Avalanche method works better if you have some self control
2025-05-29 20:02:36
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Aries ♈️ :
Why wouldn’t I get a debt consolidation loan pay everything off and pay that one loan intensely
2025-05-25 15:02:11
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meritorious bhekisiphetho :
so i should pause saving and pay all my debts
2025-05-27 18:53:27
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foreverhalloween___ :
we're getting out of dat
2025-05-26 15:02:13
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Scott :
One is better to pay off the highest interest debt 1st. Let the small interest debts ride. Do a balance transfer loan with 0% interest for over a year if you can pay it off before the due date.
2025-04-27 22:16:15
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Riker :
I did this plan 103k in debt, plan works now I have money.
2025-04-30 01:18:19
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Bigjock :
This is so great 🥰 💪💪
2025-06-28 11:04:08
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Ashley 💋 :
The debt snowball method is a great approach to staying motivated and seeing progress. Small wins really do make a big difference when it comes to sticking with your goals.
2025-04-27 16:30:27
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Mandy :
I have been doing this . I have paid off 3 cc so far ! 🙌🏻
2025-05-30 14:35:08
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🐝🩷PammyTait🩷🐝 :
I have always paid off the debt with the highest interest first rather than the smallest debt
2025-06-09 11:30:54
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user9027151034225 :
Now that I'm out of debt I need help with investing?
2025-05-31 11:55:11
5
Schadret :
Even stop a 401k that gets match?
2025-06-19 16:46:21
1
Sherry :
Suggestions for tackling student loans?
2025-05-28 22:45:34
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Tbj4129 :
The debt snowball is for the mathematically challenged
2025-04-29 14:54:37
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EmotionalWreckage :
$10k+ will be paid off in a year
2025-06-28 20:17:46
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Amber 🇨🇦 :
Does just paying the minimum payment work though? It all comes back in interest and you're back at square 1
2025-04-28 04:06:19
4
Frankie Goldie and Friends :
smallest loan has zero interest for the next 2 years. the next largest loan has 5% interest. Which is best to focus on first? Still the smallest?
2025-06-24 22:15:18
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