How a Debt Snowball Works

by Ryan Yates

I’ve been looking for snow in the Detroit area for quite sometime.  I finely found some outside an ice arena yesterday on my drive home from work.  Since I’ve started doing video, I always keep my tripod in my car and my recording equipment in my laptop bag.  It worked out great for a quick video shoot.  It was a little windy yesterday and the lighting was a little fuzzy but I’m sure you’ll get the point of the video.

Hope you enjoy this video about how a debt snowball really works.



Jolyn@Budgets are the New Black September 14, 2010 at

I just don’t get it. Has it seriously snowed up there already?? Seriously???
Fun video! And I was drawn to your photo as well because I use that one all the time! Do you picnik? That’s where I found my copy.

Jeffrey Kosola September 14, 2010 at

@Jolyn No it hasn’t snowed yet. Detroit is also know as Hockey Town which means that we have a ton of hockey rinks. Those hockey rinks empty the Zamboni outside and that where the snow comes from.

Mrs. Money September 14, 2010 at

I’m going to second the snow?!! I like the videos too- great addition to your blog!

myfinancialobjectives September 14, 2010 at

First of all… Wasn’t your hand cold from playing with that much snow/ice for that long? Second of all… How close were you to hitting the camera lol 🙂

No but seriously, great video! I’ve noticed that you have been doing more of these lately and I think they are an excellent tool! If you don’t already, you should start a youtube channel and put these up there. These quick little videos can be an excellent way to spread the knowledge via youtube!

Steve September 15, 2010 at


Your blog has inspired me to find a job delivering pizzas. I sent out a few applications yesterday (though Domino’s disqualified me immediately because I indicated that I would not be trimming my beard daily– I don’t even do that for my office job).

This spring I worked at K-mart for about 10 weeks. I couldn’t handle the customers; I was treated like an uneducated invalid even when providing great service. I’ve wanted a second job for a while but couldn’t find anything with the earning potential I was looking for that wouldn’t also crush my soul. Your pizza delivery gig looks like something I could replicate and even if I don’t make as much as you do, I can still be satisfied with it. I’ve been getting by with a modest amount of overtime at my day job, but I have some big plans next year and I need to build a financial safety net before I can spring into action.

I’m $83k in debt between my 12 student loans and my car. For a while I considered ditching the car and biking to work but it’s 18 miles and mostly uphill in the mornings. Delivering pizzas would allow me to use the car to pay for the car (and then some).

Retirement Planning Pro September 15, 2010 at

Thanks for the dramatization Jeff 🙂 Glad that you were able to find the snow (during summertime!) and show with a simple example that overcoming debt is possible, even with small steps at a time.

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