Question: What's a Credit Card Debt Snowball?
Answer: The credit card debt snowball is a method of paying off your credit cards popularized by financial advisor Dave Ramsey. The method suggests paying off credit cards in order of lowest balance to highest balance, regardless of interest rate. The theory behind paying credit cards in that order is that you'll be able to pay off small credit cards quickly, giving you an emotional boost that will fuel the rest of your debt payoff plan.
The alternative is paying off credit cards in order of highest interest rate first. This method generally takes less time and saves interest over the debt snowball method.
