Getting Rid of Debt

Well, I was reading online about the best way to get out of debt. I am in a little debt because I made some bad decision with my money. I was trying to figure out the best way to tackle these money problems. Also, I want to raise up my credit score in sametime too. My Fico score is pretty good but I want to get my credit to debt ratio up a bit. It seems like everything that I am reading online about debt reduction. It is telling me that I need to maintain a little strategy about these problems.

The first method is to attack the highest interest rate credit card that I have in my possession. The interest rates are going to over take a lot of my money because they are eating up all my money while I am trying to pay them off. I like this option a lot but I get a little discourage with this process. It seems like I am ignoring the other bills in my box.

The second method is to attack the bill with the lowest amount first. You have a sense of getting rid of the bills in your box when you are doing this method. You seem to maintain a little bit more control of the smaller bills. It is called the snowball effect. A lot of people are using this method to get out of debt. I have recently paid a few smaller bills this weekend. It is nice to get them out of my life.

Well, I will keep you updated on Monday's with the snowball effect in the up coming days. Please keep moving forward in your dreams and I will see you down the road. Roll Tide Roll!