Getting out of debt

So far, we’ve discussed budgeting and tightening our belts. Now, it’s time to work on getting out of debt. There are a ton of different theories for paying off your debt and which debts to tackle first. Some say pay the one with with highest interest rate; some say pay the one with the smallest monthly payment. I’m in the camp with Larry Burkett and Dave Ramsey: I like to see results. Therefore, I’m a huge fan of the snowball method. Here’s how it works: