Although everyone thinks debt is part of life, in reality, it is a huge problem.
“Borrowing is easy, it’s paying it back that is difficult”
One way to pay off debt is using the Debt Snowball Method. It is simple and the most effective way.
With a debt snowball, you start by paying off your smallest debt. Once you complete, you move up to paying the next smallest debt, and so on. As your debt pays off, your cash flow improves over time.
Check out the illustration as below;
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