Snowflaking - A Primer
- Filed under: Budgeting, Legally Eliminate Debt
- Date: Jan 22,2008
Snowflaking is a more basic and simple approach to the snowball effect to debt reduction. When you think of snowballing, you think dollars a day while when you think of snowflaking, you think of pennies a day.
With this approach, even a dollar a day extra can accumulate to a large reduction in time. I would use this to pay off the higher interest debt first. Adding the snow flake effect as extra monthly principal.
You can take income from minor second income ventures as well.
Ebay.com - One approach is to sell items on ebay.
Craigslist.org - craigslist then take the extra income to apply it to snow flakes.
Survey Online - Another approach would be to take surveys online.
Yard Sale - Even old methods such as yard sales can deem valuable and effective to the cause.
You can use any of these methods to gain extra income and you should send payments immediately or as soon as your permitted to.
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