Then, begin by starting to pay off the smallest debt first (of course while continuing to make your minimum monthly payments on the other debts). Once the smallest debt is paid off, then take that payment and combine it with the payment for the next smallest debt. You’ll double your payment power and pay off that debt more quickly.
After you pay off the second debt, you’ll combine that payment with the payment for the next smallest debt and continue on the process, creating a “snowball effect.” You’ll pay off your debt faster and easier, and it’ll keep you motivated at the same time!
