How realizing your dreams can motivate you to get rid of debt investinyou (In partnership with acorns.)
"It took us quite a while to actually get to the root of that problem," said Schneider. "Ultimately we realized that we were seeking validation that we didn't get in our childhoods by buying things that we couldn't afford as adults."
The couple knew they needed to reduce their spending but didn't know were to start. Instead of talking about the amounts they owed or what they feared might happen, Auten and Schneider focused on their aspirations and goals. This allowed them to define their values and onlyStill, there was that nasty $51,000 in credit card debt, which was costing them $10,000 a year in interest.
Using the snowball method, the consumer pays off bills in the order of smallest to largest to build momentum and change their spending behavior. With the avalanche method, the consumer pays down the debt with the highest interest rate before tackling bills with lower interest rates. However, Auten and Schneider wanted to reduce their interest costs as quickly as possible. They developed what they call the "lasso method," which as the name suggests works a lot like a lasso, whereby you consolidate your debt.
"Lasso your debt into preferably one location where you can get a lower interest rate," Auten said. "That allows you toTwo and a half years later, Auten and Schneider were debt-free. Today, the happily married couple co-host the
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