If you find yourself making only minimum payments on everything,
consider a debt snowball approach.
If you want a sort of encouragement or motivation, you might
consider debt snowball strategy.
If you're making the minimum payments and you can afford to make a little more, then you might
consider a debt snowball where you send a higher payment to one of your credit cards each month (while making the minimum on all your others) until that card is paid off.
Not exact matches
Consider, for example, the
debt snowball or
debt avalanche methods — two strategies for paying off
debt fast.
Consider snowballing your
debt by paying off your lower balance
debts until you pay off all.
If you're looking for a place to start to tackle
debt you might
consider taking on a card or account with the lowest balance, similar to the «
snowball» method.
If you've struggled to stay consistent in your efforts to pay off your
debt, you may want to consider using the Debt Snowball P
debt, you may want to
consider using the
Debt Snowball P
Debt Snowball Plan.
This approach could quickly
snowball and place you in dangerous
debt, especially when you
consider another part of the Pew survey: 47 % of those who did suffer an unexpected financial setback «also had serious financial shortfalls» in the same year.
Frankly, there aren't too many of those people — those that are out there are probably not
considering the «
debt snowball.»
If this method does not suit you, you might
consider the
debt deluge — a modified version of the
debt snowball.
When the
Debt Snowball came out, many people jumped on board because it was
considered «new» in the way it spread throughout the personal finance sphere.
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.
But if you've tried that method before and failed,
consider using a
debt snowball.
If you have trouble getting started,
consider the «
snowball» method, in which you pay off the easiest
debts first, picking the lowest hanging fruit and gaining confidence and momentum from there.
If you have more than one credit card,
consider a
debt payoff plan like the
debt snowball method, which allows you to pay more toward one credit card each month, while making minimum payments on the others, until that card is paid off.