Momentum
Use the debt snowball for quick wins
Paying the smallest balances first keeps motivation high even if interest isn’t optimised.
Example queue
- 1. £450 Credit card #2
- 2. £1,200 Store card
- 3. £3,800 Car loan
- 4. £12,000 Student loan
1. List debts smallest to largest
Ignore rate for now—focus purely on balances and minimum payments.
2. Overpay the smallest
Throw every spare pound at debt #1 while paying minimums on the rest.
3. Roll the payment forward
When a debt clears, add its old payment to the next balance. The snowball grows each time.