The Debt Snowball Method Explained

The Debt Snowball Method Explained: The debt snowball strategy is a financial strategy popularized by Dave Ramsey, that aims to help individuals pay off their debts. The debt snowball method focuses on paying down one debt at a time, starting with your smallest debt, while still making minimum payments on all other debts. Rather than taking a purely mathematical approach to paying down debts, the debt snowball method aims to incorporate human psychology into the strategy. In this video, we will break down what the debt snowball method is and provide a visual example of how it works. We will also cover the advantages and potential drawbacks of the debt snowball strategy. Please note, none of the information provided in this video is financial advice. Before making any financial decision, it is always recommended to speak with a licensed financial expert. Debt snowball calculator: www.ramseysolutions.com/debt/debt-calculator

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