Debt Snowball is an effective debt payoff strategy described in the best seller book Total Make Money Makeover by Dave Ramsey. The very first baby step (step 1) in the Dave Ramsey’s Debt Snowfall program is building the initial emergency fund. The snow ball process involves, making the minimum payments on all the debts except the smallest, and then throwing as much money as you can on that one debt. Once that debt is paid off, take that payment and apply it to the next smallest debt. Repeat this process as you progress your way through all your debt. The ...