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No. of Recommendations: 5
I don't like snowballing. There, I said it. I just don't like it. It bothers me to ignore potentially payoff-able debt to focus on just one debt at a time. I not only don't like it, I hate it.
And you know what AJ, I'm not doing it anymore. I'm going to back away from the car and student loan for now. But the 3k balances r fair game at this point.


Have you ever really looked at the numbers ? If you are spending time looking for coupons to save money on milk, you are wasting those savings by not paying off your highest interest rate debt the fastest.

Paying off low balances makes you feel better. I suspect the overspending that got you there made you feel better - temporarily.

Why not just automate* it all so you pay the minimums on the lower interest loans, budget and pay the maximum you can on the higher interest ones and put a moratorium on spending on anything unnecessary ? I'm sure this will be met with "it will be so hard I can't stick with it." You might be surprised what you can do without or postpone when you realize how much each purchase really costs because you have high interest debt.

*Automating savings particularly from any increase in income is how loads of people manage it. It's much hard to do anything when you are looking for what's left instead of taking it off the top.
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