I used to think a debt snowball was just a cute name, but then I tried it

For years I was all about paying off my highest interest card first, thinking math was the only way. Then my coworker showed me her spreadsheet where she knocked out a $400 store card in 3 months by starting with the smallest balance. Seeing those zero balances actually felt better than saving on interest. Has anyone else found the emotional win matters more than the numbers?

3 comments

3 Comments

nora_park725d ago

You said "starting with the smallest balance" but that's not exactly the snowball method - the snowball actually focuses on the smallest total debt amount, not the smallest balance on a single card. Paying off a $400 store card first is still snowball-adjacent, but it really works best when you list all debts from smallest to largest and tackle them in that order. Did you actually list out every single debt and then pick the smallest one, or just choose the $400 card because it felt doable?

blairm355d ago

starting with the smallest balance" lol @nora_park72 but yeah, it just felt doable honestly. Didn't make a full list or anything.

quinnmitchell5d ago

Bet you just picked the $400 one cause it felt easy @blairm35