12:58 18 September 2013
It's never easy to find good ways to get rid of all those debts, but there is one way to help you that does not require extra funds. This is called a debt snowball, and it basically means that you start by repaying smaller debts and use the savings to repay the next smaller debt. Here are the steps that you need to follow if you want to get the debt snowball to work in your favour:
This is how debt snowball works, by helping you remove all of the loan interests you currently pay, one at a time. The main advantage of this method is that you don't actually have to use more money than you already use for debt repayments – you just use it in a smarter way.
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