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
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“Too poor for a bribe, and too proud to importune,
He had not the method of making a fortune.”
—Thomas Gray (1716–1771)