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  • Writer's pictureJoe Woodhouse

Becoming Debt Free in 4 Easy Steps

We’ve all had debt at some point in our life and know the extra stress and pressure it seems to put on everything you do and every decision that you make, so what I’m about to show is a simple 4 step process to becoming debt free using the snowball method.


1. List all of your debts in order of size, starting with smallest first


2. Work out your monthly budget towards debt


Work out how much you can afford to pay off your debts each month, lets say you can afford £900/month. Once you’ve paid all your minimum payments this means you have an additional £400 to go towards clearing your debts.


3. Attack Debt 1 First


This is the debt with the lowest balance, so the additional £400/month all goes towards Credit Card 1, at that rate it will be cleared in 5 months.


4. Move onto the next Debt


Once this is paid off move all the money you were paying on debt 1 onto debt 2, and once this debt is cleared continue moving down the list until everything is cleared.

There’s going to be people arguing, "no Joe you’re wrong, the best way to clear debt is to pay off the largest interest first"


If we were robots, correct, but we’re not, we’re human, we’re emotional and unpredictable, and these little wins each time we clear one of our debts off keeps us motivated and on track.


So there you have it 4 steps to becoming debt free.

Best,



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