When I graduated from college, I found myself with substantial student loan payments and credit card debt from my days in school. While I knew that something had to be done to get rid of my debt, I didn’t really know what to do.
As I surfed the web, I had come across the Motley Fool website. Before long I was lurking on the message boards and trying to learn as much as possible. That is where I first learned about the snowball method to eliminate debt.
Once I began following the snowball method, I quickly saw progress and finally felt that I was on the right track. Moving forward, I have eliminated all of my consumer debt other than my mortgage and a balance transfer at 0% that is currently earning me interest at ING DIRECT. In my opinion, I owe much of that success to the fact that I had become a Fool.
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