--- title: "Roll Your Debts Away! Snowball Method: An Infographic" description: The Snowball Method is a debt reduction strategy that is used by a lot of people today to manage their overwhelming number of debts. The way it works is, you pay off your debts in order of smallest to largest. image: https://lanyana.revivefinancial.com.au/hubfs/Snowball-Effect-1000x523.jpg --- [![DR-Logo---Powered-by-RF-(2021)-137x60px](https://lanyana.revivefinancial.com.au/hubfs/DR-Logo---Powered-by-RF-(2021)-137x60px.png)](https://debtrescue.com.au) Menu [Apply Online](https://solutions.debtrescue.com.au/online-assessment-form) [1800 003 328](tel:+611800003328) 1800 003 328 - [Recent Articles](https://solutions.debtrescue.com.au/articles) - [Debt Consolidation](https://solutions.debtrescue.com.au/articles/tag/debt-consolidation) - [Debt Agreements](https://solutions.debtrescue.com.au/articles/tag/debt-agreements) - [Informal Agreements](https://solutions.debtrescue.com.au/articles/tag/informal-agreement) - [Debt Relief](https://solutions.debtrescue.com.au/articles/tag/debt-relief) - [Bankruptcy](https://solutions.debtrescue.com.au/articles/tag/bankruptcy) - [Budgeting](https://solutions.debtrescue.com.au/articles/tag/budgeting) - [Business Debt](https://solutions.debtrescue.com.au/articles/tag/business-debt) - [Credit File](https://solutions.debtrescue.com.au/articles/tag/credit-file) - [Education](https://solutions.debtrescue.com.au/articles/tag/education) - [News](https://solutions.debtrescue.com.au/articles/tag/news) - [Research](https://solutions.debtrescue.com.au/articles/tag/research) - [1800 003 328](tel:+611800003328) Talk to a Professional Apply Online [1800 003 328](tel:+611800003328) Call Now # Roll Your Debts Away! Snowball Method: An Infographic Posted by [Debt Rescue](https://lanyana.revivefinancial.com.au/articles/author/debt-rescue) on Feb 15, 2018 4:19:00 PM - [Tweet](https://twitter.com/share) [![Snowball-Effect-1000x523](https://lanyana.revivefinancial.com.au/hubfs/Snowball-Effect-1000x523.jpg)](https://lanyana.revivefinancial.com.au/articles/roll-your-debts-away-snowball-method-an-infographic) The Snowball Method is a debt reduction strategy that is used by a lot of people today to manage their overwhelming number of debts. The way it works is, you pay off your debts in order of smallest to largest. Have you ever been taught as a kid that the fastest way to build a snowman is by rolling a small snow ball through the snow? As the ball rolls, it gets bigger and bigger as it picks up momentum until its turned into a boulder. Well, this technique is similar to that, except it's the debt we're paying off that's quicker. ## 3 Steps to Building Your Debt Free Snowman These are the steps in achieving the Snowball Method: ### Step 1. List Your Debts from Smallest to Largest List all the debts and loans that you owe on a piece of paper in the order of smallest to largest. ### Step 2. Make Minimum Payments on All Your Debts Except the Smallest Make the payments to all your debts at a minimum amount except your smallest debt. Instead, pay as much as you can on your smallest debt. When you focus on one debt at a time, it helps you pay off your balance quickly. Once one of your debts have been paid off, the amount that was used to pay off that debt can be used to pay off your second smallest debt in addition to what you are already paying. ### Step 3. Repeat Until All Debts Have Been Paid Repeat this process until all your debts have been paid off. Every time a debt has been paid, use that amount to pay off your next debt. ![Is-Your-Business-In-Financial-Distress](https://lanyana.revivefinancial.com.au/hubfs/DR%20Blog%20CTA%20Banner%20-%20Personal%20Debt%20Solutions.gif) ![Snowball-Method-Dave-Ramsey-1-191x1024](https://lanyana.revivefinancial.com.au/hs-fs/hubfs/Snowball-Method-Dave-Ramsey-1-191x1024.jpg?width=191&name=Snowball-Method-Dave-Ramsey-1-191x1024.jpg)For more information on budgeting and how it can help get your finances back on track, check out our [budgeting page.](https://debtrescue.com.au/budgeting/) Topics: [Budgeting](https://lanyana.revivefinancial.com.au/articles/tag/budgeting), [Research](https://lanyana.revivefinancial.com.au/articles/tag/research) ## More Articles - Recent Articles - Debt Consolidation - Debt Agreements - Informal Agreements - Debt Relief - Bankruptcy - Budgeting - Business Debt - Credit File - Education - News - Research ### Subscribe Here! ### Get the Latest Debt Free and Budgeting Advice straight to Inbox Free ### Recent Posts ### If you are in too deep with debt, we here to rescue you. We have the right solution for your situation. Contact us today. No obligations, just solutions! ## Talk to an Aussie who cares. [Get Started](https://solutions.debtrescue.com.au/online-assessment-form) [![DR-Logo-v3-1](https://lanyana.revivefinancial.com.au/hubfs/DR-Logo-v3-1.png)](https://debtrescue.com.au/) **Affiliated with:** ![ias-white-logo](https://lanyana.revivefinancial.com.au/hs-fs/hubfs/ias-white-logo.png?width=250&height=118&name=ias-white-logo.png) **Member of:** ![pipa_logo_white](https://lanyana.revivefinancial.com.au/hs-fs/hubfs/pipa_logo_white.png?width=250&height=72&name=pipa_logo_white.png) [Privacy Policy](https://debtrescue.com.au/privacy-policy/) | [Terms of Use](https://debtrescue.com.au/terms-of-use/) © 2019 Debt Rescue. All rights reserved. Debt Rescue Pty Ltd is a company that is part of Revive Financial Group Pty Ltd (Group). All of our Australian Credit Licenced activities within our Group are undertaken by our related bodies corporate Revive Financial Lending Pty Ltd ACN 152 573 610, Australian Credit Licence 418721 and Revive Financial Pty Ltd ACN 621 446 697, Australian Credit Licence 503321 and Revive Debt Agreements Pty Ltd CAN 133 509 654, Authorised Credit Representative Number 452856 and Registered Debt Agreement Administrator Number: 1337. Liability limited by a scheme approved under professional standards legislation. ## What Kind of Debts Do You Have? ![](https://debtrescue.com.au/wp-content/uploads/2020/11/Credit-card-icon.png) Credit/Store Card ![](https://debtrescue.com.au/wp-content/uploads/2020/11/Personal-loan-icon.png) Personal Loan ![](https://debtrescue.com.au/wp-content/uploads/2020/11/Pay-day-loan-icon.png) Pay Day Loan ![](https://debtrescue.com.au/wp-content/uploads/2020/11/tax-debt-icon-green.png) Tax Debt ![](https://debtrescue.com.au/wp-content/uploads/2020/11/Unitilties-Icon.png) Utility Bill ![](https://debtrescue.com.au/wp-content/uploads/2020/11/other-icon.png) Other Please select at least one type of unsecured debt. Next ## How Much Money Do You Owe? $10,000 $1,000 $100,000+ Next ## Find Out How To Reduce Your Debt ### Your First Name ### Your Last Name ### Your Email ### Your Phone Phone number must be 10-digits long and begin with a 0. (e.g. 04 1234 5678) ### Your Post Code Post code must be 4-digits long (e.g. 4567) Some of your details appear incorrect. Please update the highlighted fields and re-submit. Submit ## Congratulations! ### You've taken the first step to becoming debt free Let's keep the momentum going and complete our assessment form to receive an instant debt analysis. [Start Instant Assessment](https://solutions.debtrescue.com.au/online-assessment-form) By submitting this form you acknowledge that you have read and accept our [Privacy Policy](https://lanyana.com.au/privacy-policy/)