Skip to main content
No. of Recommendations: 3
My movtivation is printing off my balanced owed / payment made page from the Sallie Mae website, highlighting the new figure and tacking it to my bulletin board. Then I have a flip book of how much I've paid off.

I also stare at my snowball spread sheet a lot.

The snowball is simply sacred. In the past 2 years, I have spent into the snowball once--and even then I made it up. I don't really consider it a SNOWBALL as much as a payment that must be made.

When I get extra monies, from consulting jobs or what not, I divvy them up and spend a little money on myself. I just got a check for 300 bucks; 200 went to the snowball, 50 went to the Big Screen TV fund <yippy!>, 25 into the general pot and 25 went for a sushi dinner.

This method helps me treat myself and pay off the snowball.

A book that really helped me (and it's not mentioned here a lot) is Carol Keene's *How to get what you want with the money you have*. Her book focuses mostly on Living within your means and learning how to save. She tells people to pay only the minimum amount due (sacreligious, i know), but only because she's trying to get people focused on living within their means. This for me was the first step. Next step came trimming the budget to build a snowball and then continuing that.

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.