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.
Third, Pay off Your Debts, Starting with the Highest Interest Rate. Now that you've made sure you can stay in your house and taken care of your legal obligations, you can work on paying down the rest of your debt. For many consumers, the largest part of their debt burden is made up of credit card debt.