Step 2: Make minimum payments on all your debts except the smallest.
Step 1: List your debts from smallest to largest regardless of interest rate. With every debt you pay off, you gain speed until you’re an unstoppable, debt-crushing force.
Why a snowball? Because just like a snowball rolling downhill, paying off debt is all about momentum. Then, take what you were paying on that debt and add it to the payment of your next smallest debt. The debt snowball is a debt payoff method where you pay your debts from smallest to largest, regardless of interest rate.
