Paying Off Debt Fast with the Snowflake Method

You’ve probably already heard of the debt snowball technique for paying off debt fast. But what about the debt snowflake?

Popularized by Dave Ramsey, the debt snowball method has you list each of your debts in order with the smallest balances first. Each month you make only the minimum payments towards each debt, except for the one with the smallest balance which you throw as much money at as possible.

Mathematically this method isn’t as efficient as paying the debt with the highest interest rate first, but Ramsey’s thinking is that by getting a few quick victories you can build momentum and stick with the plan rather than faltering. After all, we’re emotional beings who can’t always be counted on to do the logical thing (or we would never experience debt problems to begin with).

Whether you choose to pay the highest interest rate first or the smallest balance first, the key is to pay off your debts as fast debt snowflakeas possible. The Snowflake Method involves finding little bits of money wherever you can and putting them towards your debt. Throwing an extra $5 here and $22 there towards your debt will help you pay it off much faster and save money in interest charges as well.

Note – the Snowflake Method isn’t just for paying down debt. You can use it for other financial goals too such as building an emergency fund, investing, or saving for a big purchase or a vacation to DisneyWorld. The more snowflakes you save the sooner you’ll achieve your goals.

Not sure where to find snowflakes to throw at your debt or into savings? Here are just a few examples…

  • $8.50 saved by brown-bagging instead of buying lunch
  • $19.17 in the penny jar on the shelf
  • $30.00 saved by eliminating the premium movie package from your cable bill
  • $1.22 found in the cushions of your couch
  • $3.00 earned taking a paid survey online
  • $45.00 from selling unwanted items on ebay

Every little bit helps…and to give you a little boost, I’m participating with a number of other bloggers in a debt snowflake giveaway.  Ten lucky winners will receive $5 each.  It may not seem like much but our hope is that it will motivate you to find other opportunities to save money and pay off your debt faster.

Just imagine taking this one snowflake and rolling it down a snow-covered hill.  What started as a single flake will soon turn into a gigantic runaway snowball clearing everything in its path!

Check out the box below to enter the giveaway and get start snowflaking your debt away!

a Rafflecopter giveaway
If you want to be a blogging participant, or enter the contest, you can sign up at

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Mike is a freelance writer and blogger who specializes in finance and parenting topics. He is a dedicated husband and father of three who is obsessed with creating multiple streams of income and building wealth so he can achieve true financial freedom for his family. Like what you're reading? Subscribe to our free RSS feed and follow us on Twitter.

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  1. says

    I have tried the snowball method many times. I often think that I have money to pay toward a bill, but then it seems like I always end up draining my funds to do this. Next thing you know, I’m using that credit card I just paid off or tapping into my emergency fund on such a regular basis it is no longer an emergency fund. I like this idea of starting small. I know I can do five dollars here or ten there just by skipping the fast food once in a while. When I tried the snowball method I tried to give up eating out entirely in order to have a larger sum of money to pay down. I have found that I can’t really do that for very long. It is hard to decide what you can’t live without and what lifestyle chances you are willing to make in order to pay off debt. I think this is a great way to make small sacrifices. Maybe after you gather enough snowflakes you can make a snowball.


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