Thursday, June 2, 2011

Hatching a plan...

Being so far in debt, yes I can admit that I need help. Help comes in many forms, and after doing some online research I have decided to follow this debt help strategy.

The argument behind using this method is that you can lose motivation when trying to pay off large amounts of debt. I won't argue with that and my debt definitely qualifies as large. This is going to be a marathon.

Most of my debt is credit card debt. I have several credit cards, but most of the debt is on two of them. I will work on paying off all of the smaller debts first, which should take a relatively short amount of time.

The man behind the "debt snowball" strategy, as it has come to be known, is often credited to this man. He seems like a smart guy with quite a few publications. I will trust his idea because I am clearly no financial expert (and he is).

Anyway, it's getting late.. off to bed.

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