Lauren Anastasio, a CFP professional and senior offer development strategist of advice methodology at Vanguard, stated: "The snowball method can be implemented by listing your various debts in order from the lowest total balance to the highest balance and targeting paying off one debt in full at a time in that order. By making the minimum payment on all of your other debts and putting all your extra cash toward the smallest balance obligation first, you'll pay off entire loans or cards faster, reducing the total number of bills you have to pay each month."

Authors

• Person: Not available Organization: Business Insider
  Debt snowball vs. debt avalanche: Which strategy is right for you?

Sources

• Debt snowball vs. debt avalanche: Which strategy is right for you? www.businessinsider.com Business Insider via serper

Referenced by nodes (1)

• Debt Snowball method concept