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How can we get out of debt?

1. Divide all your debts by the minimum monthly payment. List them all in order from the least number of payments to the largest.

2. Prayerfully determine the most money you can make available from your budget to apply to the debt snowball. The more you can apply, the faster you’ll pay off your debt.

3. Each month, apply the minimum payment PLUS the extra money you’ve made available from your budget to the first debt. On all your other debts, pay only the minimum payment. Continue to do this until the first debt on the list is paid off.

4. Take the minimum payment AND the extra payment you were making on the first debt and add them to the minimum payment you’ve been paying on the second debt. Pay that amount on the second debt each month until it’s paid off, then move on to the third debt. Continue to pay only the minimum payment on all debts except the one you’re "snowballing."

5. Repeat this process until all of the debts are paid off.