Here in the Pacific Northwest, it is getting to be that time of year where it won’t be long before that flaky white stuff starts to fall. In my household, we always seem to announce the first snowflake we see. I prefer to watch it fall through the window, but my kids often let out a hoot then run to put on their shoes and head outside.
Something I’ve always marvelled at is how well snow sticks to itself when it's the perfect kind for building snowmen. It’s amazing how quickly a small ball, barely larger than your fist, is suddenly three feet tall and there’s green grass peeking through the snow again.
I recently paid off one of my loans (yay!). This caused me to reflect on how I could put the money I would normally use to make that bi-weekly loan payment toward another loan and effectively increase my payments on that second loan. I call this the snowball effect, and it’s essentially the reverse of how I got into debt in the first place.
You see, for me, once I had a big ball of debt, it didn’t matter as much psychologically if I went deeper into debt. Once I got over the initial feelings of shame and disappointment in myself for the first bill payment I missed and the first time I didn’t pay off a credit card in full at the end of the month, it became easy for me to keep missing payments and living on credit as long as I could. Until all the credit was maxed out, of course. Then I was in even bigger trouble than before.Read More