The effect snow ball to nobody is a secret that we live in a consumer society. And many times this consumption comes from the lifestyle we carry, which is usually the next labour spending sleep work spending sleep. Does this sound familiar? It is what the Americans call The Rat Race or the race of the mouse; It is that wheel where we see many mice of laboratory roll day after day, no more nothing to do, caught in that circle without end that denotes, in many cases, desperation. Financially, our race of the mouse are the debts and interests, especially credit cards. In the book The Total Money Makeover, Dave Ramsey talks about the steps one must follow to be financially stable. While many things apply to what you preach in the blog (like for example the Emergency Fund, which is 1000 $ for Dave Ramsey) her book is focused on people living in the United States, where taxes, IRS 401k, Roth IRA are common terms but for Latin America are not applicable.
However, your debt snowball if it seems interesting to me. According to Dave, to apply the debt snowball (translated as snow ball debt) should: 1. enlist all our debts (excluding mortgages) lower amount to greater amount of debt. 2 Pay the minimum on all debts except which has the lowest balance. 3 Deposit everything you can, until the smallest amount (if a single banknote or coin, serves!) to the smallest debt. 4. When you are done paying the smallest debt, does not alter the amount that you use to pay debts, but that process begins again, paying the minimum on all debts less in the queahora occupies the place of being the smallest debt. This method generates controversy, because it does not attack the problem of interests; You can be paying a small debt that has less interest than the big, such as a credit card, for example.