The ‘Debt Snowball’ Adapted from Dave Ramsey: Financial Peace Revisited Steps: 1. Save $500-$1,000 in savings as an emergency fund while you get out of debt* 2. List all your debt on paper…ALL of them 3. Re-order this list according size of the debt; smallest to greatest. 4. Nov 23, 2016 · In many cases, bankruptcy is simply the better option than either the Debt Snowball and the Debt Avalanche methods. If you have many, many creditors, or the balances are too high to ever repay, Chapter 7 bankruptcy might be the better choice to repayment. Oct 10, 2018 · While I was working on it and getting a few new ones added to the page I stumbled upon this Debt snowball calculator for Excel and it is really cool tool to help you track your debt snowball. As you can see below it has a lot of pretty helpful features and I wish I had a spreadsheet this cool when we were using the Snowball method to pay off ... Debt Snowball. Taking control of your money is eighty percent behavior and twenty percent head knowledge. You CAN beat debt and build wealth. The Debt Snowball Tool minimizes your effort to "do the numbers" and helps you visualize how you are reducing your debt and what steps you need to take next.