For years and years, and years and years, I hated paying bills because it felt like an empty bucket that was just getting emptier. Now that we’re making more money and paying things off, well, I still hate sending money to people that aren’t me, but I’m also excited.
I haven’t been using Dave Ramsey’s ill-advised but compelling snowball philosophy, or the well-advised but frustrating avalanche philosophy, but a combination of the two. I have all of our debts laid out, and I’ve been mostly attacking the smallest ones, and when I finish paying one of those off, I apply that payment to the higher interest ones. I also spread the payments out over time.
Here’s another thing that I do that is not the best, but it’s the best for me: when I finish paying off a debt, I don’t take that entire payment and apply it to other debts, but I take half of it and apply it to other debts. If I knock out a $50 payment, I put $25 back into our general budget and $25 toward other debts. I know, this is how lifestyle creeps, but I also know that if I don’t have wiggle room, credit card debt has a way of creeping up.
At any rate, I just knocked out one more small debt, and I paid the Orkin guy $100 (this isn’t a debt, exactly, but it’s a one-year plan) so there’s only one month left there. I’m at the point in the payoff cycle where I will be paying off something every month for the next several months. In 9 months I’m going to have ONE THOUSAND EXTRA DOLLARS PER MONTH.
Paying off debt sucks so much at the beginning but the further you get into it, the more fun it is. I mean, it’s not fun like riding a roller coaster or laughing your face off with your siblings, but fun.