The debt snowball method is a way of paying off debt from the smallest to the largest debt. It allows you to stay motivated by focusing on quick wins. Use the debt snowball method to pay off credit cards, student loans and more!
As each debt is paid off, the amount paid towards the next debt grows. Your debt snowball grows and gain momentum and as a result, your debt pay off gets faster and faster!
HOW TO USE THIS PRINTABLE:
Figure out what you owe on each debt. Debt #1 should be the smallest debt, and Debt #4 should be the largest debt.
List the starting balance owed on each debt at the top of each column.
The months are left blank so you can start your debt snowball at any time during the year.
Decide how much you are going to pay towards your debt each month. Allocate your payment amount to your debts.
Update your tracker with the new balances.
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