If you're serious about debt reduction, it's important to know the rules of the game and key definitions. Par is the predetermined number of strokes an experienced golfer is expected to use to complete a hole. A bogey is one shot over par. One shot under par is called a birdie. Two shots under par is an eagle. A mulligan is used when you hit the ball the way I do and it disappears in the dense overgrowth. Mulligans aren't always allowed on the golf course. The first time I read the sign displayed over the receptionist's desk that read, NO MULLIGANS ALLOWED, I walked out and decided to play tennis. Tennis courts have high fences which are helpful. I'm better suited for tennis because I don't have to spend all day in the dense overgrowth searching for my lost balls.
I'm applying the rules of golf to a debt reduction game I'm developing for those handicapped with excessive debt. You can take as many mulligans (they're called do overs) as you want when you play the game. First, you predetermine how many additional principal dollars you want to pay each month. If you come up short, mark that hole as a bogey and write down the amount you're short on your scorecard. If you contribute more than expected, give yourself an eagle or birdie and write the plus amount on your scorecard. Play the game as often as necessary until you win by declaring financial freedom on your last hole. Have a great day.
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