Finding Freedom

How quickly can a fool find his money again?

I currently have a whole bunch of debt. Hmm...I wonder how much I could get for my kidneys?
You can email me at steven.jericho@gmail.com
Tuesday, July 18, 2006
One Shot
As a new tactic towards paying off my debt, I think that I will implement something that occurred from time to time in my gambling days.

When you are sitting at a blackjack table, the dealer will often times joke with you that you should just take all of the money in front of you, and bet it on one hand, or "one shot" it. If you win, you double up; if you lose, you just lose your money more quickly than you would have before.

I saw few people actually bet this way for the obvious reason that nobody really wants to risk all of their money at once. They would rather get their money nickel and dimed away in the name of "fun."

Now, what does this have to do with paying off debt, you ask?

Well, I get paid, on average, twice a month with the occasional three times a month fluke. The first paycheck, especially now that I'm moving, will go towards rent and utilities and other necessities that ensure that I have somewhere to live. The second check, however, I think I am going to use to pay the minimum on most of my credit card payments, and then I'll use the rest of the paycheck to make a large payment to one of the credit cards.

While there may be better methods towards paying off debt, I like to see results, and the capacity to see a card that has a balance of $900 go to $100 or less in the space of a couple days will be a wonderful method for me to feel like I'm getting somewhere.

Money is already tight this month, so I will be unable to implement this until August. I'll let you all know how it works out.
posted by shamedsteven @ 10:22 AM  
2 Comments:
  • At 10:42 AM, Blogger Kira said…

    That's kind of what I'm aiming to do - I'm doing a lot of offers online to make money, and while it is taking up my time now hopefully I can pay one card off in one shot. Sometimes you don't really feel like you're getting anywhere when you put in lots of small payments.

     
  • At 11:47 AM, Blogger shamedsteven said…

    I know! It's so frustrating to feel like you're not getting anywhere with this type of stuff. I hope it works out for both of us.

     
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Name: Steven shamedsteven
Home: San Diego
About Me: Well, boys and girls, I, like a whole bunch of other people, made a series of "conscious, deliberate mistakes" and have ended up with a buttload of debt. What is chronicled here are some musings about the journey out.
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