The debt snowball method is an effective strategy to eliminate your debt one step at a time. By focusing on your smallest debts first, you build momentum, which can motivate you to tackle larger debts. Here’s how to use the snowball method to get out of debt.

• List all debts in order from smallest to largest balance.
• Make minimum payments on all debts except the smallest.
• Put any extra funds toward paying off the smallest debt as quickly as possible.
• Once the smallest debt is paid off, move to the next smallest debt and repeat the process.
• Celebrate each milestone to stay motivated on your journey to becoming debt-free.

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