Of course you have. Next to the Emergency Fund, it's probably the most discussed financial tool in the PF blogosphere. For the uninitiated, here's the gist:
- Pay the minimum amount on all but one of your debts; attack this last debt with all your extra cash.
- Once the first debt is completely paid off, take all the "extra" that was previously going toward that debt, and apply it to the next debt in line, continuing to pay the minimums on the others.
However, there's a really cool off-shoot of this technique, which I found over at I've Paid For This Twice Already... (a great blog). The idea is to make additional "snowflake" payments to debt whenever possible. I love the approach used by this blogger, and I love the addition to the snowball metaphor.
Just an example of how constantly impressed I am by the ingenuity and creativity of the PF community. Keep up the good work!