TCH Daily · Money
How to start a debt snowball in the UK — smallest balance first
Debt snowball works because wins are visible. Smallest balance first, not lowest APR theatre.
Eight moves. List, then attack.
- List every debt. Balance, minimum, rate. Credit cards, overdraft, catalogue, family loans.
- Order by balance ascending. Snowball order. Avalanche is the rate order — pick one method.
- Minimums on all. Never skip a minimum to speed another. Fees hurt.
- Extra to the smallest. Every spare pound after bills.
- Celebrate the kill. Cross it off. Move that payment to the next.
- No new consumer credit. Freeze the cards in a block of ice if you must.
- Payday review. Recalculate after each payday.
- Printable pack. Debt Snowball Payoff Pack is this system as a PDF.