Dave talks about the ‘snowball method’ which asks you to list everything you owe except your mortgage. The point is to ‘snowball’ your debts one by one. How do you do this?
Great, you answered "Don’t worry about interest rates unless two debts have similar payoffs".
See here what other people have answered:
- Attack the first balance on your list by paying off as much as you can, make minimum payments on the other balances
- Don’t worry about interest rates unless two debts have similar payoffs
- Order your debts from smallest to largest
- All of these steps
Click "CONTINUE" to proceed to the next question
Interesting fact:
Be sure to order your debts by balance, smallest to largest. Don't worry about interest rates unless two debts have similar payoffs—then you’ll list the higher interest rate debt first.