I owe a huge thank you to this sub, you were hard on me a couple yrs ago but told me what I needed to hear, pay off that 16k in CC debt, and do it now – and today I paid off the last of it!
Of course I’m excited, but rather than just share a success story, I wanted to point out how important for me the ‘feeling’ of success was during this >2 year process. It absolutely was due to the snowball method, and with every balance payoff I got a ‘high’ driving me to keep going as I took that extra money to tackle the next balance. I also frequented this sub, it kept my focus on finances and frugalness. And during this process I also documented everything.
So, I guess I just want to let people out there know, that if you’re newer to taking control of your finances, want to pay-off debt, and think you’ll require the physiological boost to keep going (I did), I definitely recommend the Snowball method.
TLDR;
- Pay off smaller balances first for earlier psychological 'wins'
- Frequent this sub to keep your mind in it
- Document your success along the way
Disclaimer: The Avalanche method will cost you less and is the more recommended method as it saves you money.
Submitted February 10, 2017 at 11:37AM by StillEnjoyLegos http://ift.tt/2l1x1hr
