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.
Once the highest-interest debt is paid off, add that monthly payment to the minimum payment on the next-highest-interest debt, continuing until each debt is paid. The debt avalanche approach works with all types of debts, from credit card balances and auto loans to student loans and mortgages.