If you're in debt and have multiple credit cards making your life miserable you know how important it is to get out of debt. Unfortunately, when you're juggling a number of debts, big or small, it can seem like an impossible task. That's where the debt snowball comes in. By doing little more than you're doing right now, you can put the debt snowball to work so that you can not only pay off your debt faster, but begin paying off cards completely, which has a huge psychological impact. If you're struggling with debt and wish there was a better way, read on to find out more about the debt snowball method.
Using a Debt Snowball
From Jeremy Vohwinkle, About.com GuideJune 19, 2011
Explore Financial Planning
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This is a good article to keep people out of debt. Unfortunately,there are events that disrupt the process of paying off your debts. (Like unemployment) Like your article says, 43% of Americans spend more than they earn each year. These are the folks that can potentially find themselves falling into bad credit situations.