The Debt Snowball: How it works?

On this blog, I often share the things I feel everyone should be aware of in order to better manage their finances. I mostly focus on the tools and techniques that will help you make better and more informed decisions. This article is of a similar nature where I will discuss one of the simplest, yet most effective and popular loan repayment techniques: The debt snowball.

The logic behind this technique is the same as the most effective snowball building technique – you build a small snowball and roll it around in the snow. As it gains momentum, it gains traction and the snowball gathers mass.

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