Follow the instructions below to complete this assignment.
Download and complete The Debt Snowball worksheet. The Debt Snowball worksheet. – Alternative Formats Evaluate the debts and expenses to create a plan to pay off the debt in the least amount of time possible using the debt snow ball.
First, create a plan to decrease expenses.
Second, identify how much additional money will be available to add in the snowball as the extra payment
Third, list the debts in order from smallest overall balance to largest balance in the chart area.
Fourth, add the extra payment amount on the first line, then add the minimum payment of the first debt to the extra payment for the new payment.
Next, carry the new payment from the first payment down to the second debt as the extra payment.
Continue the process until all debts are paid.
