The debt snowball method is a simple yet powerful way to pay off debt by focusing on small wins. Start by listing your debts from smallest to largest, regardless of interest rates. Pay minimums on all but the smallest, and put every extra dollar toward eliminating that first balance. As each debt is paid off, roll the payment into the next, building momentum. Eventually, apply the snowball to your mortgage to pay off your home early and become completely debt-free.

Take control of your finances by setting a budget! Track your income, expenses, and goals to save smarter and spend wisely.

Achieve financial freedom with 10 steps: set goals, save, invest, cut debt, and grow wealth for a secure, independent future.