Comments on: The emotional snowball

By: glblguy

glblguy — Wed, 04 Jun 2008 02:04:15 +0000

@a1supersport – I think it’s all about finding what works for YOU. For me, facing the large cards with a small payment would seem overwhelming, but sounds like for you it worked great. The point her is just do what works. Paying off your debt is the point, not how you do it.

Thanks for sharing your thoughts!

By: a1supersport

a1supersport — Wed, 04 Jun 2008 01:17:33 +0000

I’ve actually done the opposite, and it works just as well, if not better. Once I got past the first 2 cards (6 altogether), things really started to snowball!! Each card gets progressively smaller, hence they get paid off faster…the snowball grows insanely huge very quickly, and so does the emotional high. Glad I did it this way, because I’d lose confidence if the big cards were saved for last…then I’d lose focus, and eventually start “using” again.

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Thu, 29 May 2008 18:46:03 +0000

[...] Gather Little by Little – The emotional snowball [...]

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Credit card round-up and an LOLcat - CreditCards.com — Thu, 29 May 2008 18:07:21 +0000

[...] Gather Little by Little just paid off his Chase credit card, and discusses the wonderful “emotional snowball” you get as you become closer to freedom from debt. 4) This one is a [...]

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What’s Your Financial IQ? Here’s A Test | Moolanomy — Wed, 28 May 2008 12:01:55 +0000

[...] can explain the concept of Debt Snowball to your friends (+1 bonus if you know [...]

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Monday Morning Link Love | I've Paid For This Twice Already... — Mon, 26 May 2008 14:39:08 +0000

[...] Little By Little: The Emotional Snowball. I really love this analogy. Even though I do interest order, I can find highs in the little [...]

By: Greg

Greg — Thu, 22 May 2008 13:33:55 +0000

I paid off one this week, too, and it really does feel great. We’ve been working the debt snowball for several years, and it’s great to go back and look at the (excel) snapshot of our finances from 5 years ago and see just how far we’ve come when we get discouraged sometimes. We’ve got 2 more small ones (less than $500 ea) then a handful of the big ones… but we’re making it happen, little by little.

Thanks for another great post (as usual!)

By: ecoria7

ecoria7 — Thu, 22 May 2008 02:02:33 +0000

Thank you for this post…I subscribe to your post but I havent seen this one because…Well today I found my pinhole light at the end of the tunnle. (The shove of the snowball of my debt).I was so excited that I went online just to read to motivate me…and I found this post…It sent me on cloud nine….To know that other pople out there are the same as me makes me feel not so alone in this revolving debt world!…Thank you so much!

By: debtdieter

debtdieter — Wed, 21 May 2008 21:26:17 +0000

I know exactly the feeling you’re referring to, I’ve paid off 2 of my 7 credit cards so far, and expect to pay off another one next month using a snowball. It’s great isn’t it?

By: No Debt Plan

No Debt Plan — Wed, 21 May 2008 20:59:55 +0000

Glbl, awesome man. Had no idea you had that much free cash flow. Keep knocking out that debt!