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.
1. Pay the most expensive balance first. If you want to get out of debt as cheaply as possible, list your debts going from the highest interest rate to lowest. Make the minimum monthly payment on each, and throw all your extra cash at the highest-interest debt. This is sometimes called the debt avalanche method of repayment.