Qualifying the debt is pointless! Gamifying it seems fine or at least successful.
Is Treating Debt Repayment Like a Game the Only Way to Win?
Megan Reynolds

I would say QUANTIFYING debt is essential. I mean, one can call it gamification if it makes it more fun, but essentially, it’s tracking. Track what you make, track what you spend, track what you owe, track principal, track interest. Come to terms with whether you like what you’re doing and whether it’s sustainable.

Also, no debt is good debt — because given the choice, you’d rather not owe it, right? But there is consumer debt vs investment debt. (But investment debt just means it will pay off its own interest and principal in the future. So the objective is still to get it gone.)

If I may… The Dave Ramsay debt snowball of lowest amounts first irritates me on a logic level. Please consider paying off the highest interest debt first and snowball that way. Track the interest savings and progress to give you the feeling of accomplishment. If you really can’t hack it psychologically… OK, sure, whatever works, pay off the smallest debts first if you must.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.