What best describes the Debt Snowball method for paying off debt

Question

Matteo Myers

Mathematics

15 September, 20:35

What best describes the Debt Snowball method for paying off debt

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Answers (2)

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Isabella Harper · Answer 1

The debt snowball method is a debt reduction strategy where you pay off debt in order of smallest to largest, gaining momentum as you knock out each balance. When the smallest debt is paid in full, you roll the money you were paying on that debt into the next smallest balance.

Pranav Cole · Answer 2

a debt reduction str

ategy where you pay off debt in order of smallest to largest, gaining momentum as you knock out each balance.