Martin Lewis has shared his simple 'snowball' trick that could help anyone who has an overdraft or is in debt. The MoneySavingExpert (MSE) founder said that it's an effective way to clear any outstanding debts.
Martin said those who owe money should focus on paying the debt with the highest annual percentage rate (APR) first as this is the debt that is growing the quickest, which in turn will be the most expensive. Once you have cleared this debt, then you can work on paying off the second one and so on.
Speaking on ITV's The Martin Lewis Money Show Live on Tuesday night, he said: "I want you to list all your debts in order of interest rates, highest first, which for many will be the overdraft.
