Debt Snowball

Understanding that being in debt is a reality for most Canadians, here is a tool to use to attack your debt and get it paid off as fast as possible. This is referred to by many as the “Debt Snowball.” It is called that because like in the cartoons of old when you roll a small snowball downhill as it continues it grows bigger and bigger and picks up momentum. This process works the same way with debt – you start by paying off a little debt and then it picks up steam and your momentum grows to a point where it becomes unstoppable!