The snowball method is all about momentum.
Start with your smallest balance first while paying the minimum on everything else. Throw every extra dollar at that smallest debt until it’s gone. Once it drops, don’t stop. Roll that payment into the next smallest balance. Now you’re hitting harder. Every debt you knock out adds more power to the next one. It’s not about complicated math. It’s about stacking wins. Quick victories keep you fired up and moving forward.
One balance down.
Then another.
That’s how you build real momentum and take control.
Cut down what interest takes from you.
Start with the balance that has the highest rate and pay the minimum on everything else. Throw every extra dollar at that high-interest debt. Once it’s gone, roll that payment into the next highest rate. Now you’re attacking smarter. Every step cuts down how much debt is costing you. It’s not about quick wins. It’s about saving the most money over time. Less interest means your payment actually hits the balance.
One high rate down.
Then the next.
That’s how you shrink debt faster and keep more of your hard earned money.
Take control with a loan.
Start by combining multiple balances into one loan while paying off the rest. Instead of tracking different rates and due dates, you focus on one clear payment each month. If the rate is lower, more of your money goes toward the balance instead of interest. A fixed term gives you a real end date you can see coming. It’s not about more debt. It’s about a smarter setup. One payment. One plan. One direction.
One payment locked in.
Then progress every month.
The finish line gets closer with each payment you make!
OUR FAV METHOD? SNOWBALL…
HANDS DOWN!
Life on the job has ups and downs — and sometimes bills do too. When debt starts stacking up, many Ironworkers use the debt snowball method to knock it down and regain control.
Instead of focusing on interest rates, the Snowball Method focuses small wins. You list your debts from the smallest balance to the largest. You pay the minimum on everything, but every extra cent you have goes toward the smallest debt first.
WHY IT WORKS
- QUICK WINS
When you pay off a $400 card in two months, you get a win, which gives you the mental fuel to attack the next one - MAKE CASH FLOW
Once a small debt is gone, that monthly payment is freed up. You “roll” that money into the next debt on your list
HOW TO START
- MAKE YOUR LIST
List every debt you owe (except your mortgage) from smallest balance to largest. - KEEP PAYING THE MINIMUMS
Pay the minimum on everything but the smallest one - ATTACK THE SMALLEST ONE
Attack that smallest debt with everything you’ve got – tax refunds, overtime pay, or extra savings - KEEP ON ROLLIN’
Once it’s paid off, take that entire payment and add it to the minimum payment of the next debt.
