Pay Off Your Small Loans the Easiest Way

Small loans and credit card debts can be quite annoying sometimes. Having a small loan is not a tragedy, but it is an extra note on your debt list. Plus, you keep paying a small interest for nothing every month. The easiest way to pay off all your small loans and credit card debts is to play the "windmill". I prefer calling this method the "windmill", although most people would call it the "roulette". Name doesn't really matter. Call it whatever you want. This is how it works:

1. Calculate the total remaining sum of your small debts to know precisely how much you need.
2. Write down how much of extra money you can save and pay every month. Let's assume it is 400$.
3. Establish a group of people (a friends' club) consisting of those you trust. It could be family members or close friends.
4. Suggest them an idea to pay off their own small loans or just to have a new loan with zero interest for their urgent needs.

Now, let's assume you found 10 people. Every one of them will save 400$ every month and the total sum of 4400$ (ten people plus your 400$) will be paid to one person each month (or 4000$ without receiver's own 400$). It will be a circle due to end in eleven months (= eleven people) and as a result, every one in the group will have an interest free 4000$ for covering their urgent needs. The only thing to make a decision on here, is the line, i.e who's the first to receive the total sum, or second, last and etc.