Revised Debt Snowball

This post was written by admin on January 18, 2009
Posted Under: Debt Tales

I realized I wanted to put more than just the credit card debt on my “Debt Snowball” and realized I had made some mistakes on my original post, so I completely revised my previous post about the Debt Snowball.

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Reader Comments

I think paying off the accounts from smallest to largest is a wise idea. That’s pretty much what I’ve been doing. I started with this:

Medical bill 1: $135
Medical bill 2: $200
Old apartment lease: $600

As I came across extra cash, I paid them off. It felt really good to take care of them. Most of yours are relatively small balances, so if you really budget and cut expenses where you can, I don’t see why you couldn’t pay off 2 of those each month (especially when you’re working on the ones with balances of less than $200). But if you give every dollar a name at the beginning of the month, it’s totally doable. =)

#1 
Written By Ninja on January 18th, 2009 @ 7:51 am

Yes, I think we should be able to knock off several real quick! I’m thinking 2 or 3 will be gone this month. Thanks for the comment.

#2 
Written By admin on January 18th, 2009 @ 7:57 am

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