2. This is how I started my journey to debt freedom
3. I had 4 maxed out credit cards
4. I was desperate to get out of debt,
5. I felt like superwoman. I saved up an extra £100 to pay more than the minimum payments to my credit cards each month
6. Typically, I divide the £100 into 4 and pay an equal amount to each card
7. I did this for 3 months diligently
8. After a while, I got frustrated. My debt was just not going down fast enough.
9. It did not seem like anything was changing.
10. I knew I had to step up my game if I wanted freedom from debt.
11. I did a bit of research online, webinars, read books.
12. I stumbled on the snowball debt repayment method
13. This is how it works
14. Stack your debts
15. In order of lowest to highest balance
16. It should look something like this:
17. Pay the extra £100 to only the top card with the lowest balance
18. In my case, top card had only £200 balance. I was able to clear the card within 2 months.
19. Of course, I celebrated that win with my victory dance
20. Now, I have only 3 credit cards left to pay.
21. I paid every penny I used to pay to the top card got moved to card number 2.
22. This meant £105 extra over and beyond the minimum payment was paid to card 2.

Final thoughts:
Advantages
1. The snowball gives quick wins. Very important for motivation and encouragement.
2. I recommend it for starting the journey to debt freedom
Disadvantages
3. It is not the most cost-effective way to pay off debt.
4. In my next video, I will cover more cost-effective ways to pay off debt.

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