Oprah’s Debt Diet! (chomp)
Step 3: Learn to play the credit card game.
This portion of the debt diet begins with a grim admonition for those who have fallen into the trap of revolving credit. Pay the monthly minimum at your own peril!
I’m with you O. I looked into the snowball method of debt reduction, where you pay off the debts in order of smallest to largest irrespective of interest rate. This method sounded appealing because because snowball is a euphemism for a sex act, as well as the name of a well intentioned and much maligned imaginary pig.
Oprah suggests an elaborate calculus for divining the order in which debts should be paid off. The acronym is DOLP, which is not as catchy as Snowball. DOLP stands for Dead on Last Payment, and is gleaned my mixing your Swiss Latte Fund with bird entrails and the menses of an unshorn virgin. I’m going to forgo that and just stick with interest rate as my bellwether. Honestly, I don’t think my debt situation is complex enough to warrant an avian sacrifice.
As part of the debt diet, I’ve made an appointment on my google calendar to call the credit card company about reducing my interest rate. This is very difficult for me. I’m not confrontational by nature, and I hate asking for things. But Oprah commands it. So it must be done.
[tags]Oprah, Debt Reduction, Snowball, Google Calendar[/tags]
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