Debt-snowball Method

The debt-snowball method is a debt reduction strategy, whereby one who owes on more than one account pays off the accounts starting with the smallest balances first while paying the minimum on larger debts. Once the smallest debt is paid off, one proceeds to the next slightly larger small debt above that, so on and so forth, gradually proceeding to the larger ones later.

Read more about Debt-snowball Method:  Overview, Methodology, Example, Benefits, Criticism, Research

Famous quotes containing the word method:

    Argument is conclusive ... but ... it does not remove doubt, so that the mind may rest in the sure knowledge of the truth, unless it finds it by the method of experiment.... For if any man who never saw fire proved by satisfactory arguments that fire burns ... his hearer’s mind would never be satisfied, nor would he avoid the fire until he put his hand in it ... that he might learn by experiment what argument taught.
    Roger Bacon (c. 1214–1294)