Which is to say, the speaker has acknowledged that the accounting shenanigans used to get this bill passed in the teeth of statutory spending constraints are basically bullsh**. But thereâs a lot of bullsh** going around Washington just now.
So then I tried the âlittle debtsâ approach. You knowâ¦ Pay off the smallest debt, then take the payment you were making on that and put it against the next debt. Thatâs often called the debt snowball, and the idea behind it is that seeing that âwinâ early is supposed to motivate you.
The most important thing in paying down debt faster and with less interest paid is the âcatch-up paymentsâ. As you pay off one debt, apply what you would have paid for that debt to something else. In short, it doesnât much matter what you pay the $2000/month on first â¦ only that you consistently spend down $2000/month.here are really only three strategies to pay off debt: 1) pursue the payments that cost you the most in monthly payments first or 2) pay of the highest interest debt first or 3) pay off the debt that has the smallest balance owed.