Attack Debt

Step 1: Identify the First Target Debt
Review your list of debts and identify the one with the smallest balance. This will be your first target debt to focus on paying off using the debt snowball method.

Step 2: Pay Minimums, Add Extra to Target Debt
Make the minimum payments on all your debts except for the first target debt. Allocate any extra funds from your budget towards the first target debt to accelerate its repayment. Be consistent and committed to paying as much as possible towards this debt each month.

Step 3: Celebrate Small Victories
As you pay off the first target debt, celebrate your progress! Use this accomplishment as motivation to stay committed to your debt repayment plan.

Step 4: Move to Next Target Debt
Once the first target debt is paid off, apply the total amount you were paying towards the first debt, including the minimum payment and the extra funds, towards the next debt on your list with the smallest balance. This will create a "snowball" effect as you apply more money towards each subsequent debt.

Step 5: Repeat the Process.
Continue paying off one debt at a time, starting from the smallest balance and moving up to the larger debts while applying the "snowball" effect by adding the total amount you were paying towards the previous debts to the next target debt. Keep repeating this process until all your debts are paid off.

Step 6: Stay Committed and Adjust as Needed
It's important to stay committed to your debt repayment plan and consistently make payments on all your debts while focusing on one target debt at a time. Be disciplined with your budget and avoid incurring new debts. If your financial situation changes, you may need to adjust your budget or reassess your debts' priority.

Step 7: Celebrate Debt Freedom
Once you've paid off all your debts using the debt snowball method, celebrate your debt freedom! Take pride in your accomplishment and use the financial lessons learned to continue making wise money management decisions in the future.