Pay off $6,000 of Debt with the Snowball Method

How we Paid off $6,000 of Debt in 6 Months (with one full time income) using the Snowball Method

I have said it before and I’ll say it again, the day I got comfortable talking to my husband about our finances, was one of the biggest sighs of relief of my life. For years we went to church and listened to them talk about some of Dave Ramsey’s  best methods to payoff debt. They were methods we always thought were so far out of reach. When we finally buckled down and gave it a go, we were surprised at just how easy it was. We have implemented budgets, debt payoff and better ways to save. I have included easy to follow printouts in my Fun Sized Budget Bundle on all the methods we use to keep our finances on track, so you can take full advantage of these practices as well. So if you want to see how we paid off $6,000 of debt in 6 months (with only one full time income) with the snowball method, keep reading.

*This post contains affiliate links. For more information, see my disclosures

First of all

So, I’m going to try to keep this cut and dry and super simple. The basic idea of a snowball method is starting small and accumulating more and more (payoff) as you go. First of all, you’re going to need an extra $200 per month. –That’s the zinger. That was what took Tom and I so long to actually hop on board with the Snowball Method. We didn’t have an extra $200. Or at least we thought we didn’t. If that is your first thought as well, consider these 2 options:

  • Calculate your spending.
    • Add up your “must have” costs, like mortgage, gas, electric, water
    • Then, add up your “extras” like cable, Netflix and gym memberships
    • Now, the real kicker, go through the last month’s statement and add up all the “really extras” like takeout, fast food, coffee, movies, shopping etc.

Chances are, somewhere in here, you can find an extra $200. I was blown away when we added up our “really extras” to find how much we spent on quick trips to Target, (go figure) Taco Bell or coffee shops. If you are blowing most of your cash on these things, getting a budget together would be a great idea.

Get yourself a side hustle.

If you really don’t have $200 to spare. You don’t have TV, no memberships, not a single extra dollar to be found. Finding a way to make some extra cash is your next best option. The part here is, it doesn’t have to be $200. If you can find a way to bring in an extra $100, then you are $100 closer to where you want to be. Here are some great ideas I have done and others have done to earn a little extra cash fast.

  • Donate plasma
  • Drive for Uber
  • Deliver with UberEATS – Deliver food, not people!
  • Start a blog – Read all about how I started making money from blogging.
  • Seasonal work
  • Join a focus group
  • Sell on Decluttr
  • House cleaning
  • Dog sitting
  • Babysit
  • Ibotta – Ibotta is an app that allows you to choose rebates on your favorite purchase and pays you just for signing up!
  • Dosh – Similar to Ibotta, Dosh syncs up with your cards (credit and qualifying debit) to give you any discounts that you are entitled to without you having to do anything.

Related posts:

Personally, I have always been able to find very part-time jobs (5 hours a week) that easily brought in an extra $200 a month. Scope out your local newspaper for these types of jobs.  Sometimes you may pick up a few extra dollars from work, then a few more by selling some things. It’s important to keep track of how much you’re bringing in so you can make sure to put that money in the right place! Get access to my Fun Sized Budget Bundle, where you can get an updated Snowball Method printout along with 17 other helpful budget, savings and finance sheets!

Another super awesome option is to start your own small business. If you enjoy photography, typing, makeup or fixing up old furniture etc, you can easily get creative and find a way to make your hobby a profit. Like a blog for example! See how I created my own income from home by starting a blog.

Time to Start

Now that you have your little extra, let’s talk strategy. Here is your basic starting sheet. *You can download your printout at the end of this post*

payoff debt, snowball method, dave ramsey, debt sheet, printable, snowball method worksheet,

In the top column, write out your debts with the biggest debt being in the #1 box. The #2 box will be your second largest, and so on and so on. Below each of these fill in your total balance owed for each. Then below that, fill in what the minimum monthly payment is for each. Now, you are going to take your $200 and apply it to your smallest debt first.

As you can see, our $300 credit card was our smallest amount.

Our minimum monthly payment was $30.

We added the additional $200 to that $30 and were able to pay $230 toward our $300 total.

Related Posts


payoff debt, snowball method, dave ramsey, debt sheet, printable, snowball method worksheet,

After we finished paying off that remaining $70 from our credit card, we took the remaining $160 and applied it to our $100 payment for our hospital bill. So we applied $260 to our hospital bill in January.

Then by February we had our original $30 (from credit card #1) + $200 (snowball money) +$100 (hospital bill)= $330 to begin applying to our hospital bill. As you can see, that $330 easily paid off the remaining balance with $20 left over to add to our next debt. Are you starting to see the snowball effect?

By May we were able to put $530 toward our big credit card.

payoff debt, snowball method, dave ramsey, debt sheet, printable, snowball method worksheet,Now we have racked up a huge snowball and it just rolls fast and faster knocking out debt one step at a time. By the time we got to our biggest debt it only took a little over a month to completely polish off that remaining balance and we still managed to have an additional $210 leftover.

payoff debt, snowball method, dave ramsey, debt sheet, printable, snowball method worksheet,

Now, at the end of this 6 month snowball, we found ourselves with an additional $930 a month! Even if you skim off that additional $200, there is still a hefty $630 surplus in our bank account each month!

The Dave Ramsey debt snowball method definitely requires discipline but has a huge payout if you can stick to it! It has been over a year since we were able to dig ourselves out of this much debt and I am still amazed at how easy it really was and how great it felt to watch those numbers get smaller and smaller each month.

So, hop to it!

So now is the time. There is no better time than the present. Especially if you are setting goals for the next year to get yourself out of debt! Here are some great online resources you don’t want to miss!

Wise Money and Budgeting Recommendations

BeFrugal – Be Frugal is an online resources for the best coupons around. In stores, online or in restaurants. After you make your first purchase, BeFrugal will instantly give you a $10 bonus, plus $10 for every friend who starts saving with you!

Dosh – Dosh is an app that links up to your credit cards (or qualifying debit cards) and gives you money back on purchases you make. It works like other cash back apps by refunding you money on qualifying purchases. Only you don’t have to keep track, it scans discounts and gives you money back automatically!

Financial Peace University – This is the best course out there to help get out of debt and get right with money. Dave Ramsey created Financial Peace University to help others get out of debt and stay out. You can access his Financial Peace University at Home DVD Course or search to find courses near you.

Fun Sized Budget Bundle- This is my very own customized budget bundle. This bundle has everything I use to create a smart budget, revise it when needed, plan our vacations on a budget, pay off our debts and build up our savings! Get the bundle on sale for only $10.

IBotta – This is a totally free app that pays you $10 just for signing up. With Ibotta you get paid for the things you already plan on buying in stores and online! It’s easy to use and also pays you $5 when you recommend to friends. Read my success story with Ibotta here.

IGrad – A financial literacy college course, IGrad that covers topics like budgeting, financial aid and entrepreneurship. The best part is, it is not just for college students. You can access this great resource no matter what age or stage in life!

Love and Money – Online courses created by Brightpeak Financial to help couples work together to create a financially stable home and open up with one another when it comes to budgeting, saving and getting out of debt.

Target Debit Card – If you shop at Target as much as me, you should definitely take advantage of their debit card if you aren’t already. All it does is remove money from your regular checking account like a regular debit card, but saves you 5% on your purchases every time you use it!

Earn Extra Income Recommendations

MasterClass – If you are hoping to work your way into entrepreneurship. Browse this great online resource of classes taught by professionals in the fields of writing, directing, acting, cooking and design.

Uber – Become a driver with Uber. Earn when you want, chill when you want. Get paid up to 5x daily with Instant Pay, along with chances for additional incentives in your city. Get signed up with Uber.

UberEATS – Earn extra money when you need it, day or night. Deliver food instead of people.

Don’t Forget to PIN This!

payoff debt, snowball method, dave ramsey, debt sheet, printable, snowball method worksheet,

















  1. Gloria Harvley | 9th Nov 17

    This is really awesome! I’ve used the Dave Ramsey Method before but didn’t always stick with it. I definitely can ‘t wait to try this method!

    • | 9th Nov 17

      Same here! When we did stick to it though…ahhhh feels so awesome to be done with all of that debt.

  2. Lauren | 9th Nov 17

    Holy moly, that’s incredible! I have heard of this method before but I haven’t used it yet. Thank you so much for sharing this story, you have inspired me to check out my finances tonight!

    • | 9th Nov 17

      You are welcome. I hope you can find some wiggle room to make some improvements!

  3. Kim | 9th Nov 17

    Love this! My family is debt free, but we weren’t ALWAYS that way. I will be sharing this with my not so financially sound friends as well!

    • | 9th Nov 17

      That’s awesome to hear! Talk about life goals!

  4. Prerna Garg | 9th Nov 17

    Getting a side hustle and creating a monthly budget really helps multiply the income and work on the debts. Really helpful post!

    • | 9th Nov 17

      Thanks! Glad you liked it! Have a good day!

  5. Kristin | Life of Stones | 9th Nov 17

    Wayyyyy to go!!!! We recently paid off $35,000 using Dave’s steps…feels so great! Congrats to you!!

    • | 10th Nov 17

      That is awesome!! How exciting for you guys!

  6. Sincerely Ophelia | 10th Nov 17

    This is interesting. Def need this for my credit card bills!

    • | 10th Nov 17

      Give it a try! It’s really great to watch all those bills fade away!

  7. Mary | 10th Nov 17

    This is really handy!

    • | 10th Nov 17

      Thanks so much! Have a great day!

  8. Emma @ Muddy Boots and Diamonds | 10th Nov 17

    Thank you for this breakdown. It’s something I have in mind to do for my credit card. Target and eating out are my downfalls. I’m really trying to cut back on the eating out. And I gave myself a pat on the back for returning something to Target and NOT buying something else 🙂

    • | 10th Nov 17

      That is impressive. I may or may not have made a tiny splurge at Target today too! (face palm) It was in the “dollar section” though so…it’s all good, right?

  9. Eunice Ann | 10th Nov 17

    So helpful. Thank you for this clever idea. 🙂

    • | 10th Nov 17

      You bet! Glad you liked it!

  10. Chad | 10th Nov 17

    Very cool idea, thank you!

    • | 10th Nov 17

      You bet! Have a good one!

  11. sarah | 14th Nov 17

    hello i was trying to download the printout but it doesn’t have the columns?? is this on my end??

    • | 14th Nov 17

      Hi Sarah,

      Thank you for bringing that to my attention! Not quite sure how that happened, but it should be all fixed! I will email you the printout as well to ensure that you get it. Thank you, Renee

  12. Linda | 18th Nov 17

    Need to specify that you need an extra $200 per month. Took me a while to figure this out.

    • | 19th Nov 17

      I’m sorry if that wasn’t clear.

Leave A Comment