Debt Snowball

Business, Legal & Accounting Glossary

Definition: Debt Snowball


Debt Snowball


Full Definition of Debt Snowball


A debt reduction method that starts with paying off the smaller debts first and then adding those funds to other payments to eliminate larger debts. The minimum payment on the larger debts would still be paid until the individual can start funneling the excess funds to the larger debts.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/debt-snowball/
Modern Language Association (MLA):
Debt Snowball. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
December 01, 2022 https://payrollheaven.com/define/debt-snowball/.
Chicago Manual of Style (CMS):
Debt Snowball. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/debt-snowball/ (accessed: December 01, 2022).
American Psychological Association (APA):
Debt Snowball. PayrollHeaven.com. Retrieved December 01, 2022
, from PayrollHeaven.com website: https://payrollheaven.com/define/debt-snowball/

Definition Sources


Definitions for Debt Snowball are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.