Sentences with phrase «called debt snowball method»

Dave Ramsey, American author of The Total Money Makeover, suggests an unusual strategy for getting out of debt by using something called the debt snowball method.

Knocking out those cards with the lowest balances right off the bat (called the debt snowball method) is a smart move if you need a psychological push at the beginning to keep you motivated.

This is called the debt snowball method, and you'll use it to knock out your debts one by one.

Not exact matches

The snowball method (also called the debt - snowball) is a debt repayment strategy where you pay off the loan with the lowest balance first.

To accomplish that he recommends what he calls the «debt snowball» method for paying off your debts.

If you have a fixed amount of money to pay toward debts, we call these various methods «snowball» methods because as your minimum payments decrease, your extra payments increase.

This second method is sometimes called debt stacking or debt avalanche in order to contrast it with the debt snowball.

This strategy of focusing on paying off the smallest debt first, and then moving on to the next smallest debt and so on, is sometimes called the «snowball method.»

Given the number of followers Ramsey has — some might call them devotees — it's difficult to argue that his debt snowball method is worth considering if you are financially overwhelmed.

Another strategy, called the «snowball method,» appeals to human nature, and has you pay off the smaller, easier debts first, giving you a sense of accomplishment that leads to you wanting to further repay your debt.

Using something called the snowball method, you can use your disposable income to quickly pay down your debt until there's nothing left.