Another benefit of the snowball method is you can reduce the number of lenders you owe money to more quickly. Then, if for some reason you can't keep up with p

Another benefit of the snowball method is you can reduce the number of lenders you owe money to more quickly. Then, if for some reason you can't keep up with payments, you have fewer ominous phone calls to worry about and are less likely to have to file bankruptcy. Interestingly, at that point the psychology goes from motivational to avoiding extra stress altogether.