Whether you do or don’t immerse yourself in the world of personal finance, you’ve probably come across Dave Ramsey several times. The personal finance expert has spoken and written extensively about financial freedom to help people get out of debt.
The snowball method is one of his most popular approaches to managing debt. However, it’s widely debated, with some experts arguing it might not be the best strategy. Below, we dive into the snowball method, highlighting why it falls short and what about it works.
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What is the snowball method?
The snowball method is a behavior-based debt management strategy that encourages individuals to pay off small debts before larger…