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Debt Management: Debt Snowflake

By Edited Nov 13, 2013 0 0

How Do I Pay Off My Debt Quickly?

Debt is a dangerous game to play, and I say this because many people, especially college-would-be-graduates, have no idea how loan works. Debts can be used well; do not let me tell you otherwise. But if you have no idea what you are dealing with exactly, debts are dangerous. Pay your debts off quickly.

Aside from the 2 popular methods in managing and controlling debt: Debt Snowballing or Debt Avalanche, which ever you choose, you would need excess cash.

Many of life’s little pleasure are soon forgotten, and before you know it, you are living with the decision to trade that bit of pleasure for a longer one. That cup of coffee, that McMuffin. All of them add up, and when you know that all these little things add up, why not make them work for you? Make them work towards eliminating debt.

Snowflakes. There is so many that makes up a snowball. Without snowflakes, there will be no snowball. I hope you get where I am getting at.

Every bit adds up, there is no escaping that fact. You probably got into debt because all your little purchase adds up. If that is so, why not get it out from there?

But then you say, “It is very hard.”

The Chinese Restaurant

Meet one of my acquaintances. He has almost $15,000 in debt.  He must pay off the minimum sum of $375 monthly. But then he likes to eat out. Chinese takeout, Italian. You name it. He hates cooking. All of the eating out cost him an approximate $1,400. He also hates debt. He hates how his life is managed by debt, but he does not hate it enough.

Someone asked him to cut down. He said no.

Meet John, one of the many people who rather have the comfort of their current lifestyle than the comfort of being free financially.

What Blind You To The Little Things

You never believed that they all add up. Most people do not, anyway. Debt management must be grand. Big. Rarely is it about thinking small. Small like snowflake is to a snowball, or avalanche.

Do away with the little morning breakfast. A little more time to clip the coupon so the excess cash can go into paying the debt would not kill you. Find 20 cents on the floor? Throw it against your debt all the same.

Snowflake debt plan is only effective because it is the small sum all adding up together. Rarely do people eliminate their debt by stumbling onto a great fortune. There are, but rarely.


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