Comments on: Dave Ramsey Explains Why The “Debt Snowball” Works

By: parker's mom

parker's mom — Mon, 05 Jan 2009 17:21:36 +0000

We are BIG Dave Ramsey fans! We no longer pull out the credit cards when purchasing. I use cash for everything or a debit card when necessary. We so keep one credit card on hand if needed – but we have not used it in months! Instead we use those cash envelopes suggested by Dave Ramsey. The “crunchycute” website has a lot to choose from. Get started – it will make a difference!

By: A Plan to Be Debt Free in 2009 | Prime Time Money

A Plan to Be Debt Free in 2009 | Prime Time Money — Mon, 05 Jan 2009 16:10:35 +0000

[...] it’s easier to pay off your debts by starting with the smallest debt: the Dave Ramsey ”Snowball Method.” That’s cool, too. Whatever motivates you to get rid of the debt is the best [...]

By: Heather

Heather — Mon, 06 Oct 2008 17:54:16 +0000

I found that with snowballing I have a plan – and it’s easy to stick to. Each month I have been adding extra money that I come into (ebay sales, or freelance design work – income I cannot count on) into the payments also, so I’m a bit ahead of my plan.

It it weren’t for this plan, I’d still feel like a surfer continually being caught in the undertow. I’m happier and the debt is decreasing!

By: Finances and Personal Responsibility: Who Is To Blame For Your Money Problems? | Bible Money Matters

Mon, 25 Aug 2008 17:04:48 +0000

[...] up a debt snowball, and pay off your debts with the smallest balance first. If you need to – get an extra part time job or make money online to help pay off your [...]

By: Weekend Roundup- It’s not the Heat, It’s the Humidity Edition | Think Your Way to Wealth

Mon, 04 Aug 2008 00:44:49 +0000

[...] Dave Ramsey explains why the Debt Snowball works at Bible Money Matters- Hear it from the man himself! [...]

By: Hanks Weekly Hangouts #39 (July 21, 2008) | My Investing Blog

Hanks Weekly Hangouts #39 (July 21, 2008) | My Investing Blog — Mon, 21 Jul 2008 08:03:23 +0000

[...] 7. BibleMoneyMatters presents Dave Ramsey explains why the “Debt Snowball” works [...]

By: Sam

Sam — Fri, 18 Jul 2008 02:05:38 +0000

Ramsey’s plan is what is better psychologically. It gets you a victory over a debt quicker. Remember that his target audience included many, many people that are in financial trouble – they aren’t going to get better rates from the credit card companies, they aren’t smart with money (or they wouldn’t be in trouble) and they need to get the lift that a payoff provides. And Dave admits this on his show.

Sams last blog post..Tips for investing couples

By: Frugal Dad

Frugal Dad — Thu, 17 Jul 2008 14:17:56 +0000

Like Dave says, that’s why they call it finance. I’ve tried to get out of debt a variety of ways, but the snowball works best for our family because the motivation gained from slicing up a few paid off credit cards early in the process fuels us to keep going.

By: The Happy Rock

The Happy Rock — Thu, 17 Jul 2008 14:02:48 +0000

Thanks for the clip Pete!

From everything I have seen I would choose the Dave Ramsey follower if you pitted two people with the exact same debt and income to get out of debt quicker than any other method. Obviously my opinion, but the snowball’s simplicity and focus on behavior change is great.

I know some people can’t connect with it and that’s fine, but that is why they call it personal finance not a one size fits all financial planning.

The Happy Rocks last blog post..Daycare Dilemma – Exlporing Ways To Cut Costs