3rd step - Snowball method

The snowball method gives a faster, much more rewarding feeling

9 steps to get out of debt, Ashley-style

The short

1. Remove high-interest rates from debt

2. $1k Emergency Fund

3. Snowball method

4. Reduce expenses

5. Budget by paycheck

6. Automate payments

7. Bi-weekly budget audit

8. Adjust budget

9. Place Medical Bills on Payment Plan

3rd STEP - Snowball method

Make minimum payments on all debts EXCEPT for the smallest balance debt.

Pay any extra $ toward smallest debt

Once that is paid off, put all the extra $ toward the NEXT smallest debt

Honestly, I've done the math a bunch of different ways

Snowball Method (pay down smallest balances first)

VERSUS

Avalanche (high-interest rates first) Method

Paying high-interest rates first would save a couple of hundred on ~$50k credit card debt in the long run

But the feeling of the momentum you gain when doing the snowball method... is much more rewarding.

That rewarding feeling is why I recommend Snowball Method versus Avalanche Method

Hope you're doing well, besties!

<3 Ashley