The primary disadvantage of the debt snowball method is that it ignores interest rates, which can result in the borrower holding onto high-interest debt longer and paying more in total interest over time.

Authors

• Person: Not available Organization: Community Resource Credit Union
  Snowball vs. Avalanche Method | How to Reduce Your Debt | CRCU

Sources

• Snowball vs. Avalanche Method | How to Reduce Your Debt | CRCU www.crcu.org Community Resource Credit Union via serper

Referenced by nodes (1)

• Debt Snowball method concept