I had $8,500 spread across three credit cards. Not the worst debt story you’ll hear, but it was eating $200/month in interest and making me feel like I was running on a treadmill.
I’d already paid off $12,000 in debt before (that story is on the site), but I slipped again during the holidays. Wedding gifts, flights, a few nights out that turned into $600 on my card. It adds up fast when you’re not tracking.
This time, I did the debt snowball method. Here’s how it actually went.
What the Debt Snowball Is (And Why It Works)
You list all your debts from smallest to largest. You pay the minimum on everything except the smallest debt, which you attack with every extra dollar. When the smallest is gone, you roll that payment to the next smallest.
Critics say the avalanche method (highest interest rate first) saves more money. They’re right. But the debt snowball isn’t about math. It’s about momentum. And momentum is what I needed.
My Debt List When I Started
- Card A: $1,200 at 22% APR (minimum: $35/month)
- Card B: $3,800 at 19% APR (minimum: $85/month)
- Card C: $3,500 at 24% APR (minimum: $80/month)
Total minimum payments: $200/month. Interest per month: roughly $170.
Month 1-3: Killing Card A
I threw $400 extra at Card A every month by cutting subscriptions and eating out less. That’s $400 + $35 minimum = $435/month.
Card A was gone in 3 months. I felt like I’d won a small war. The $35 minimum was now freed up to attack Card B.
Month 4-7: Attacking Card C (The Highest Rate)
I went after Card C instead of Card B because Card C had the highest interest rate (24%). I broke the pure snowball rules and attacked the most expensive debt first after the smallest was gone. Hybrid strategy.
I was now throwing $400 + $35 (freed up) = $435 at Card C each month. Plus the $80 minimum. Total: $515/month.
Card C went from $3,500 to $1,200 over four months.
Month 8-10: Finishing Card C and Starting Card B
Card C was paid off in month 8. Now I had $435 + $80 = $515 freed up, plus the original $85 minimum on Card B. Total attacking Card B: $600/month.
Card B balance: $3,800. Gone in about 3 months.
By month 10, all three cards were paid off.
The Real Cost
Total interest paid during the snowball: roughly $640. Not great, but better than the $1,700 I would’ve paid at minimum payments over 3 years.
Total saved from the original $8,500 in interest just from paying aggressively: about $1,000.
TL;DR
- Debt snowball = smallest balance first for psychological wins
- I hybridized it: snowball to build momentum, then avalanche for the expensive stuff
- $435/month extra + freed up minimums = $8,500 gone in 10 months
- Paid $640 in interest instead of $1,700+ — a $1,000 win
The best debt strategy is the one you’ll actually stick with.