Have You Ever Implemented a Debt Snowball?

Dave Ramsey's Debt Snowball is a popular method for attacking debt. You can check out the 7 steps at www.daveramsey.com. At www.bloggingawaydebt.com, the author actually lists out debts as they are attacked. Talk about a great accountability partner. The online community!

The overview:

• Current: $44,564
• Paid: $53,537
• Original: $98,101
• Emergency Fund: $1000
• IRS Savings: $3000

Broken down:

• CC #1: $0 ($64)
• CC #2: $0 ($240)
• CC #3: $0 ($650)
• CC #4: $0 ($785)
• CC #5: $0 ($1,500)
• CC #6: $0 ($1,886)
• CC #7: $0 ($1,984)
• CC #8: $0 ($2,135)
• CC #9: $0 ($7,145)
• CC #10: $13,060 ($14,561)
• CC #11: $7,554 ($24,388)
• Credit Line #1: $0 ($182)
• Credit Line #2: $0 ($182)
• Auto #1: $0 ($16,579)
• Auto #2: $0 ($25,819)
• Cons. Loan: $20,000 ($20,000)
• IRS Due March 28, 2013: $3,950 ($3,950)

That is awesome!  Here, it is just nice to highlight someone else's accomplishments.  What have you accomplished with your debt?  We'd love to hear from you.

This post was reposted from http://finlit.biz/debt/have-you-ever-implemented-a-debt-snowball/, originally written on February 13th, 2013.