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Thread: Get out of debt with the Snowball Payment

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    #11
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    We did the Snowball & it worked well for us! Paid off all debts! We did the lowest balances first. And it did motivate us to keep on trucking when we saw each thing paid off. It encouraged me to get everything paid off quicker.
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    #12
    I'm using snowball and love it. iPad has a great app for this. I've paid off one bill and about to pay off another in august. I plan to be debt free by sep 2013





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    #13
    A friend's sister did this. In 5 years, they paid all their debts and the house off. They are 100% debt free. That is a personal person I know. For me, it is hard. It is budgeting and getting things together.

    I'll be using our "emergency fund" soon because our car is out of commission. Will be fixing that. then, building it back up again.
    "Obstinacy is a fault of temperament. Stubbornness and Intolerance of contradiction result from a special kind of Egotism, which elevates above everything else the pleasure of its own autonomous intellect, to which others must bow.: Carl von Clausewitz
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    #14
    I need to do this. It is discouraging to keep up my end, and not see things budge.
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    #15
    Quote Originally Posted by NocturneSiren View Post
    I need to do this. It is discouraging to keep up my end, and not see things budge.
    You should give it a shot. You just have to set yourself that once you pay off one bill, what you pay on that one goes to the next one on top of your minimum payment. Before you know it that bill will be paid off and you put all that on the next one. You'll be crossing off bills before you know it.





    "Don't worry about being right,
    just worry about being kind."
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    #16
    It takes time. When the first one is gone, it is amazing how that feeling is.

    We have a lot of CC debt. We knocked down a bit last year. EAch year, payment by payment.
    "Obstinacy is a fault of temperament. Stubbornness and Intolerance of contradiction result from a special kind of Egotism, which elevates above everything else the pleasure of its own autonomous intellect, to which others must bow.: Carl von Clausewitz
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    #17
    We used the debt snowball (and still are) to pay off $22k in 13 months. It definitely works, if you stick to it.
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    #18
    Wow I'm totally going to try this. What is snowball? How do I find information on it?
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    #19
    Quote Originally Posted by TrishAFSpouse View Post
    It would take a lot longer to get debt free if you pay off the lower payment per month stuff first.
    It's not lower payment per month it's lowest balanace first.
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    #20
    We're starting this month and it's exciting to see that we can actually pay off $72,000 (2 car payments, student loan, and cc) in 4 years. I can't wait to be debt free!
    Quote Originally Posted by pandora View Post
    He will only honor the value that YOU put on YOURSELF. Love yourself, you are worth it.
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