Key Takeaways. The debt snowball method is a debt elimination strategy that can quickly provide a sense of accomplishment and motivation. With the debt snowball method, you make minimum monthly ...

The snowball and avalanche methods are two popular strategies for paying down debt. The snowball method tackles your lowest balances first, offering small, more immediate wins.

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If you’re in credit card debt, you are not alone. We’ll cover the two popular ways to tackle credit card debt--the debt snowball and the debt avalanche.