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Snowball Your Debt
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You've just read how to snowball your debt. If you use the Snowball Debt Elimination calculator app found on the Compasscatholic.org/calculators website, you will be able to move all of your credit card information from your Debt List to that app. As you record the information, you will realize how much debt you have accumulated and you will be able to see how long it will take you to pay off those debts, just by making minimum payments. Be sure to start with selecting the plan based on "debt with the smallest balance." Enter the extra amount you can make each month to speed up debt repayment. Play around with different amounts to see how the app works.
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Seeing the different payment options, you will have to define how to achieve additional income, which can be added to the minimum payment of the card with the smallest balance and thus start the snowball effect to eliminate those credit cards as quickly .
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Snowball Debt Elimination Calculator
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