Financial Tip of the Week

Create a Debt Snowball to pay down your debt. This method involves focusing all of your extra money on the smallest balance you owe. Each time you pay off a debt, you have one less minimum payment to make. As you eliminate your smaller debts, you take the money that was going toward those debts and fold it in to make larger payments on your larger balances. The debt snowball plan helps you build confidence and positive repayment habits by prioritizing the "easy" debts first.