The debt snowball method is an accelerated repayment plan where individuals pay the minimum amount on all accounts except the one with the lowest balance, to which they apply all extra funds until it is paid off, repeating this process for the next lowest balance account.

Authors

• Person: Not available Organization: First National Bank
  Debt Avalanche vs. Debt Snowball: Which is the Best Way to Pay ...

Sources

• Debt Avalanche vs. Debt Snowball: Which is the Best Way to Pay ... www.e-fnb.com First National Bank via serper

Referenced by nodes (1)

• Debt Snowball method concept