First, go to the free debt snowball calculator. Be sure to plug in your own numbers to the calculator after the tutorial, so you can see exactly how this applies to your own situation.ġ. Then, I use several examples of small budget adjustments that you might use to get out of debt faster. For the example, I’ll be using the starting amount that we had when my husband and I started our journey to debt free. You can watch the video tutorial below to see how to use the debt snowball calculator, or read the picture tutorial that follows. Psychologically though, as you experience your first taste of success by paying off the smallest loan quickly, you’ll feel more motivated to keep finding ways to save money and earn money to put towards your loans until you’re out of debt. Wouldn’t it be better to start paying toward your highest interest loan first? It doesn’t exactly make sense mathematically. Then use the money you were putting on the monthly payment from your first loan toward your next biggest debt, and so on. The concept of the debt snowball is to pay off your smallest debt first. Today I want to show you exactly how to get there, and how to use the Debt Snowball Calculator, so I’ve created a video and a picture tutorial below to get you started. Once you finally find it, it isn’t immediately apparent how to make use of the full power of this free tool. Even though I’ve used it more than is probably healthy, I always find myself clicking around trying to locate it. However, I’ve found that it can be a little hard to find and use if you don’t know what you’re looking for. This is a great free tool to help you get out of debt faster. At least, that was how I felt when we were working on paying off our $22,047 in student loan debt. Once you see how paying even a small extra amount toward your debt can cut months off your debt payback, you’ll be inspired to save more and more. I am so excited to share how to use the debt snowball calculator with you because I believe that, not only will it help you with the cold hard numbers, but it will also help you get motivated to be debt free! Make small changes to get out of debt months or even years faster! Discover how to use the Dave Ramsey debt snowball with this free debt snowball example video.

Snowball debt payoff app