The Snowball Method for Debt

Priceless Peace

We renegotiate better terms for you on the personal loan and credit card accounts that you have. The huge savings we get you are extremely helpful in getting your finances back in good shape. The peace alone that we bring you is priceless.

Financial Freedom

We offer you money-management advice, create a personalized debt relief plan for you to best tackle your debt, get your finances in shape, and take you to the Promised Land of Financial Freedom, virtually hand-in-hand throughout your program.

With Start New Financial, you’re essentially debt-free at a lower cost and in less time than if you’d paid off your debts on your original repayment schedule making minimum payments. You’ll be so thrilled that you won’t know how to behave.

Start New Financial’s debt relief programs help consumers use money management strategies to reduce and eliminate their debt. We handle all the negotiations for you and guide you through your program. You won’t believe the money we save you.

What is the Snowball Method?

What is the snowball method you may ask? You can eliminate your debts by using a payment strategy where you successively paying off your smaller debts first and gain momentum to pay off your larger debts; this technique is referred to as the snowball method for debt. You eventually become debt-free with the help of the snowball method debt strategy. The snowball method to pay off debt paying the lower debt first quickly reduces the number of separate debts; this thus empowers you with the confidence and focus of debt payment, which in turn also makes you committed to become debt-free by then tackling the larger debt.

You just have to find out if the snowball methodology is the right fit for you because it does work very well for some people.

How the Debt Snowball Method Works

Snowball Method Debt Calculator



The snowball method debt calculator synchronizes all your debt in order from the smallest to the largest, helping you calculate them and giving you an idea of what debt to pay off first. Using the snowball method debt calculator, you enter all your debts, including interest rates and minimum payments. After you proceed to make a budget for yourself, you can then see how much money you will be able to set aside for use to eliminate your debt. So that your snowball method debt payment will be optimum when paying off debt with the funds saved, always try to pay a little more than the minimum amount. You can also try switching between a snowball method for debt and a debt avalanche plan to see which will give faster results on settling any debt. The debt avalanche plan is different from the snowball methodology, as it consists of you paying off the debt with the highest interest rate first and then the next-highest interest-bearing loan, and so on, and so forth.

It just involves a few simple steps to set up the snowball method debt strategy

Organize yourself and focus on the balance of your debts as you start off your snowball method for debt by making a list of all your debts from the smallest to the largest. You should always pay the minimum payment on all credit card loans to avoid interest payments or additional fees. Put any additional money that has been set aside towards the credit card loan on the top of the list of your snowball method to pay off debt. With this snowball method debt technique you will resolve paying off the smaller debt at an accelerated pace. Proceed to the next debt on the list and repeat the same process with the snowball method to pay off debt. As you feel the liberation when you accomplish paying each debt using this snowball method to pay off debt, you will discover that your total payment toward the next debt will grow larger and larger.