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


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Page URL
https://payrollheaven.com/define/debt-snowball/
Modern Language Association (MLA):
Debt Snowball. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
March 28, 2024 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: March 28, 2024).
American Psychological Association (APA):
Debt Snowball. PayrollHeaven.com. Retrieved March 28, 2024
, 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.