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.
When personal finance gurus advise you to pay off high interest rate debt first, they assume that: 1  the interest rates on your credit card are high. 2  you are bothered by your credit card interest rates. 3  this strategy is the fastest route to paying off your debts.trategy 1: If you despise high-interest rates, start by paying off the card with the largest rate, no matter the balance. Strategy 2: If you want to knock out large debts, attack the card with the biggest dollar balance first, regardless of the interest rate.