A member came to us requesting a debt consolidation loan. After listening carefully, one of our crewmembers took the time to offer an alternative approach: the debt snowball method. Working one-on-one with our member, she organized the outstanding debts from smallest to largest, then created a plan for the member to aggressively pay toward the smallest balance first.
Their conversation about “small wins” in finances led to small wins in life.
Our member took the advice and shared with our crewmember “Thank you for giving me hope!” A few months later, he came back, excited to share that he had already paid off his smallest balance and was working on his second. He had finally seen progress and was excited to keep using the method to pay down his unsecured balances. Fast forward to today, and the member has paid down $7,000 out of $12,000 in unsecured balances. With a new wife and baby on the way, our member is making great strides in paying down his debts and has started a new chapter in achieving financial freedom.
