Have you got a steady income and can afford to pay your bills each month, yet you’ve got an uneasy feeling that you’re headed for some financial trouble? The first sign that you’re on thin financial ice is that you think paying your bills means that everything is good.

There are two main strategies for paying off debt.  I’m sure you’ve heard of both:

1. Pay off your debt with the highest interest rate first, or

2. Pay off your debt with the lowest balance first

Both are fine options and I wouldn’t disagree with you for choosing either of these methods, but I’ve got a third debt elimination plan for you to consider.  One that I don’t think you’ve heard of yet.

3. Pay off the debt which you hate the most!

Have you ever done something, either nefarious or hilarious, to someone else?  Something that almost certainly means payback is in order?  Usually you don’t know how or when payback will find you, but you know it’s coming.  And all you can do is wait.

It’s a terrible feeling.  Constantly looking over your shoulder.  Being suspicions of almost everything and everyone.  You walk on eggshells, just waiting for the payback to happen till eventually you end up wishing for it to happen so that you can just get on with your life already!  The anticipation is awful.

Yes, payback sucks.  Do you know what else sucks?  Paying back.  As in debt.

I still owe about $7,000 in student loan debt. Once that loan is gone I’ll be 100% debt free. I can’t wait to become debt free!

Actually, I suppose I can wait become debt free because I’m not paying off my student loan debt early.  I wish I would have done a better job of minimizing my student loan before I needed to borrow money, but it’s too late for that.

Here’s why I’m not going to attack this debt like I’ve done with other debts in the past.