I have written previously about how to be successful with money after divorce. Now, I’m not going to lie: divorce is a tough thing financially. But tough only means it will be that much sweeter when you succeed.

The key to winning with money during and after divorce is having a plan. If you don’t have a plan, your money will disappear into a magical land called “some other dude’s pocket.”

One of the most successful plans I have found for paying off debt is called “the debt snowball.”

The process behind the debt snowball is you inventory your debts — every single debt — and list them from smallest to largest. Then, you start paying them off in the same order: smallest to largest.

Hopefully, you can see how this system is like a snowball. As a snowball gains momentum rolling down hill, so do you gain momentum paying off your debts in quick succession.

Of course, an integral part of any debt snowball is a written budget. Without a written budget, you’re chance of paying off debt greatly decreases. Just as a written blueprint is necessary to build a skyscraper, a home, or a bungalow, so to is a written blueprint necessary to build a debt-free life.

(My family and I use everydollar.com to create our written budget.)

Once you take charge of your money, consistently create and follow a written monthly budget, and work on your debt snowball, you’ll be amazed at how quickly you can pay off debt.

Commit today that, no matter where you are in your divorce, you will start your debt snowball. If you can only commit $50 per month, do it. Eventually, that $50 will become $100, $200, $500, and more.

Remember: you will succeed with money during and after your divorce.

(Props to Dave Ramsey for the debt snowball principle.)

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