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General
Debt Snowball Method
Pay off your smallest debt first while paying minimums on the rest. Once that's gone, roll that money into the next smallest. It's psychology — you get wins fast, which keeps you going. Not the cheapest way but it works for some people.
Usage Examples
"Thandi had five debts: R800 store card, R3,000 credit card, R5,000 personal loan, R12,000 car payment, R8,000 bond. She tackled the R800 first. Paid it off in a month. Eish, it felt good. Then R3,000. Then R5,000. Momentum."
"Sipho used snowball. Smallest first. After clearing three debts in four months, he freed up R1,200 per month. That went into the next debt. Slow but steady, and he stayed motivated because he was winning."
"Nomsa tried the snowball method with her store card (R2,000), credit card (R6,000), and personal loan (R15,000). After 6 months, the store card was gone. Seeing that one paid off kept her going, even though a financial person would've told her to tackle the highest interest first."