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.
It involves paying off the credit card with the smallest balance first while, of course, continuing to pay at least the minimum balance on your other credit cards.Once youâve done that, take the extra money you now have every month and apply it to the credit card with the next-smallest balance.here are only so many ways to pay off a credit card if you have a significant amount of debt and an insignificant amount of money. But here are the three common strategies people in your situation employ, along with what you need to know about each option.