Comments on: Debt Snowball – Staying Motivated While Paying Off Your Larger Debts http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/ Pay Off Debt...And Get Inspiration Daily! Thu, 11 Mar 2010 17:56:22 -0500 http://wordpress.org/?v=2.9.1 hourly 1 By: ka http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-4344 ka Thu, 04 Feb 2010 07:54:32 +0000 http://www.enemyofdebt.com/?p=1202#comment-4344 good site on the underpinnings of debt slavery: http://www.nworesistance.com/debt-slavery-explained.html good site on the underpinnings of debt slavery:

http://www.nworesistance.com/debt-slavery-explained.html

]]> By: Enemy of Debt explains how to stay motivated | Frugal Living News http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-4160 Enemy of Debt explains how to stay motivated | Frugal Living News Sat, 23 Jan 2010 04:24:16 +0000 http://www.enemyofdebt.com/?p=1202#comment-4160 [...] Enemy of Debt explains how to stay motivated while paying off the larger debts. [...] [...] Enemy of Debt explains how to stay motivated while paying off the larger debts. [...]

]]> By: Monroe on a Budget » Enemy of Debt explains how to stay motivated http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-4159 Monroe on a Budget » Enemy of Debt explains how to stay motivated Sat, 23 Jan 2010 03:33:32 +0000 http://www.enemyofdebt.com/?p=1202#comment-4159 [...] Enemy of Debt explains how to stay motivated while paying off the larger debts. [...] [...] Enemy of Debt explains how to stay motivated while paying off the larger debts. [...]

]]> By: fwisp.com http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-2608 fwisp.com Mon, 12 Oct 2009 18:56:30 +0000 http://www.enemyofdebt.com/?p=1202#comment-2608 <strong>Debt Snowball – Staying Motivated While Paying Off Your Larger Debts...</strong> Are you finding yourself feeling frustrated or overwhelmed with paying down a large debt? As I have recently become debt free myself, I understand completely. Our last debt was approximately $9,000, and it took us what seemed like forever to eliminat... Debt Snowball – Staying Motivated While Paying Off Your Larger Debts…

Are you finding yourself feeling frustrated or overwhelmed with paying down a large debt? As I have recently become debt free myself, I understand completely. Our last debt was approximately $9,000, and it took us what seemed like forever to eliminat…

]]> By: Best of Money Carnival — StretchyDollar http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-2604 Best of Money Carnival — StretchyDollar Mon, 12 Oct 2009 14:00:43 +0000 http://www.enemyofdebt.com/?p=1202#comment-2604 [...] .Brad Chaffee presents Debt Snowball - Staying Motivated While Paying Off Your Larger Debts posted at Enemy of Debt. “What if you broke up your larger debts into smaller, bite-sized [...] [...] .Brad Chaffee presents Debt Snowball – Staying Motivated While Paying Off Your Larger Debts posted at Enemy of Debt. “What if you broke up your larger debts into smaller, bite-sized [...]

]]> By: Nate http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-2579 Nate Tue, 06 Oct 2009 17:34:09 +0000 http://www.enemyofdebt.com/?p=1202#comment-2579 Good advice! Any motivational technique to help us feel like we're making progress helps. Sometimes the debt can be so overwhelming that it's hard to find that silver lining. Another helpful tip is to track your net worth. A lot of people don't do this, but I find that it helps A LOT. Every month as I pay off my debt, my net worth increases. Even if it's just a small amount, it makes me feel better about my financial situation. Good advice! Any motivational technique to help us feel like we’re making progress helps. Sometimes the debt can be so overwhelming that it’s hard to find that silver lining.

Another helpful tip is to track your net worth. A lot of people don’t do this, but I find that it helps A LOT. Every month as I pay off my debt, my net worth increases. Even if it’s just a small amount, it makes me feel better about my financial situation.

]]> By: Financial Samurai http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-2570 Financial Samurai Thu, 01 Oct 2009 17:52:11 +0000 http://www.enemyofdebt.com/?p=1202#comment-2570 Good plan Brad! I like the idea of breaking it down! I've got this $30,000 student loan debt which is numbing my mind... but I just don't want to pay it off since the interest is only 2.6%, and I'm getting a blended risk free return of 4.1% on my savings. What to do?? Good plan Brad! I like the idea of breaking it down!

I’ve got this $30,000 student loan debt which is numbing my mind… but I just don’t want to pay it off since the interest is only 2.6%, and I’m getting a blended risk free return of 4.1% on my savings.

What to do??

]]> By: Kelsalynn http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-2552 Kelsalynn Tue, 29 Sep 2009 03:26:56 +0000 http://www.enemyofdebt.com/?p=1202#comment-2552 How come my little icon looks half pirate/half vampire with the fangs and the eye? Is that supposed to represent me somehow? lol I CAN be a little feisty, but I mean well! ; ) How come my little icon looks half pirate/half vampire with the fangs and the eye? Is that supposed to represent me somehow? lol I CAN be a little feisty, but I mean well! ; )

]]> By: KELSALYNN http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-2550 KELSALYNN Mon, 28 Sep 2009 19:25:29 +0000 http://www.enemyofdebt.com/?p=1202#comment-2550 Great idea! I think the important point is to have a visual somehow-whether that's with a list like yours, or a payoff bar on your blog like a lot of us have. It's so rewarding to update that stupid little bar every two weeks or once a month (whenever you send a payment)... a lot of people use the thermometers, which is another rewarding experience- to watch your payoff amount grow even if it seems like a long road ahead. Wonderful post! PS: 2 more days! :) Great idea! I think the important point is to have a visual somehow-whether that’s with a list like yours, or a payoff bar on your blog like a lot of us have. It’s so rewarding to update that stupid little bar every two weeks or once a month (whenever you send a payment)… a lot of people use the thermometers, which is another rewarding experience- to watch your payoff amount grow even if it seems like a long road ahead.

Wonderful post!

PS: 2 more days! :)

]]> By: Tina http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-2549 Tina Mon, 28 Sep 2009 18:02:06 +0000 http://www.enemyofdebt.com/?p=1202#comment-2549 I love this site! I'm officially cc debt free and after reading this post, I believe I'm going to go ahead and stop using them for everyday purchases period. I've found that I'm just not strong enough. I'm working on two last debts, my car and the mortgage. So, thanks for awesome information! I love this site! I’m officially cc debt free and after reading this post, I believe I’m going to go ahead and stop using them for everyday purchases period. I’ve found that I’m just not strong enough. I’m working on two last debts, my car and the mortgage. So, thanks for awesome information!

]]> By: Brad Chaffee http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-2548 Brad Chaffee Mon, 28 Sep 2009 16:55:08 +0000 http://www.enemyofdebt.com/?p=1202#comment-2548 You are on fire and I love your determination! That's what it takes to get out of debt people, what an inspiration! The average person would either file bankruptcy, remain in denial about their ability as well as their problem, or pass it on to someone else. All of those options mean that no one learns a thing about why they ended up in their situation. Keep it up, and please oh please keep me informed. I will still be around 4 years from now my friend. Good luck! You are on fire and I love your determination! That’s what it takes to get out of debt people, what an inspiration! The average person would either file bankruptcy, remain in denial about their ability as well as their problem, or pass it on to someone else. All of those options mean that no one learns a thing about why they ended up in their situation.

Keep it up, and please oh please keep me informed. I will still be around 4 years from now my friend. Good luck!

]]> By: Dad http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-2547 Dad Mon, 28 Sep 2009 16:47:26 +0000 http://www.enemyofdebt.com/?p=1202#comment-2547 We're closing in on finishing our small debt as well (12/09) and we have one gigantic student loan left ($65k) so this is a great idea!!! We will have it paid off in 4 years so if you're reading this and wondering if you should file bankruptcy, NO!! We started out with $99K in debt, 1 auto loan, 1 cc, 1 loan, 3 student loans... But knock those smaller debts out and you will be pumped enough for the big one(s). And this is a great idea for those guys! WTG, Brad!!! We’re closing in on finishing our small debt as well (12/09) and we have one gigantic student loan left ($65k) so this is a great idea!!!

We will have it paid off in 4 years so if you’re reading this and wondering if you should file bankruptcy, NO!! We started out with $99K in debt, 1 auto loan, 1 cc, 1 loan, 3 student loans… But knock those smaller debts out and you will be pumped enough for the big one(s). And this is a great idea for those guys!

WTG, Brad!!!

]]> By: Brad Chaffee http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-2544 Brad Chaffee Mon, 28 Sep 2009 13:18:23 +0000 http://www.enemyofdebt.com/?p=1202#comment-2544 That's awesome Jeff! I really wish we would have done the same thing with ours. We really got beat up a few times along the way and our motivation was really lacking at times. From what I have learned about how achieving goals and marking them off of a physical list effects us psychologically, to me it seems like the best way for someone to tackle their large debts. Way to go and continue to be the great example that you are. After reading blogs about debt the main focus seems to be on telling people that they cannot do it themselves. In most cases bankruptcy is thrown around as if it were like getting a drivers license. I saw one blog where the guy asked his readers if he should file bankruptcy on $30,000. Then I found an amazing story where people paid off over $100,000 by themselves. People need to see that they can do it! That’s awesome Jeff! I really wish we would have done the same thing with ours. We really got beat up a few times along the way and our motivation was really lacking at times. From what I have learned about how achieving goals and marking them off of a physical list effects us psychologically, to me it seems like the best way for someone to tackle their large debts.

Way to go and continue to be the great example that you are. After reading blogs about debt the main focus seems to be on telling people that they cannot do it themselves. In most cases bankruptcy is thrown around as if it were like getting a drivers license. I saw one blog where the guy asked his readers if he should file bankruptcy on $30,000. Then I found an amazing story where people paid off over $100,000 by themselves. People need to see that they can do it!

]]> By: Jeff http://www.enemyofdebt.com/2009/09/debt-snowball-staying-motivated-while-paying-off-your-larger-debts/#comment-2543 Jeff Mon, 28 Sep 2009 12:30:55 +0000 http://www.enemyofdebt.com/?p=1202#comment-2543 Brad, I've just finished paying my "small" debt off. Your post is exactly how we are approaching the "large" debts. I've broken the next debt into monthly goals and do whatever is takes to make that goal. Example $4700 was broken down into $1500 chunks. So this month I must pay at least $1500 which I can do. I know I'll get the $4700 soon but breaking it down makes the goal much more visual for us. Thanks for the post @deliveryawaydebt Brad,

I’ve just finished paying my “small” debt off. Your post is exactly how we are approaching the “large” debts. I’ve broken the next debt into monthly goals and do whatever is takes to make that goal. Example $4700 was broken down into $1500 chunks. So this month I must pay at least $1500 which I can do. I know I’ll get the $4700 soon but breaking it down makes the goal much more visual for us.
Thanks for the post
@deliveryawaydebt

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