Comments on: To Debt Snowball or Debt Avalanche, That Is The Question. http://www.biblemoneymatters.com/2008/08/to-debt-snowball-or-debt-avalanche-that-is-the-question.html Finances transformed by faith Sat, 21 Nov 2009 05:12:43 -0800 http://wordpress.org/?v=abc hourly 1 By: Dave Ramsey’s Baby Steps Explained http://www.biblemoneymatters.com/2008/08/to-debt-snowball-or-debt-avalanche-that-is-the-question.html/comment-page-1#comment-10491 Dave Ramsey’s Baby Steps Explained Fri, 23 Oct 2009 20:46:59 +0000 http://www.biblemoneymatters.com/?p=996#comment-10491 [...] to start “paying myself”? For many people this is $1,000 to $3,000 a month. Baby Step 2 debt snowball is designed to do just that. Step 1 is necessary before Step 2 because you don’t want to start [...]

[...] to start “paying myself”? For many people this is $1,000 to $3,000 a month. Baby Step 2 debt snowball is designed to do just that. Step 1 is necessary before Step 2 because you don’t want to start [...]

]]> By: 50k in CC debt =( - Wise Bread Forums http://www.biblemoneymatters.com/2008/08/to-debt-snowball-or-debt-avalanche-that-is-the-question.html/comment-page-1#comment-9148 50k in CC debt =( - Wise Bread Forums Wed, 19 Aug 2009 19:49:43 +0000 http://www.biblemoneymatters.com/?p=996#comment-9148 [...] going to take a while to get back out. Just take it one debt at a time, and use a program like the debt snowball in Dave Ramsey's 7 Baby Steps to work your way out of debt. Set up a budget, cut spending, and if [...]

[...] going to take a while to get back out. Just take it one debt at a time, and use a program like the debt snowball in Dave Ramsey's 7 Baby Steps to work your way out of debt. Set up a budget, cut spending, and if [...]

]]> By: How Does the Debt Snowball Work http://www.biblemoneymatters.com/2008/08/to-debt-snowball-or-debt-avalanche-that-is-the-question.html/comment-page-1#comment-7848 How Does the Debt Snowball Work Tue, 07 Jul 2009 11:16:32 +0000 http://www.biblemoneymatters.com/?p=996#comment-7848 [...] 18-24 months by using the debt snowball! Imagine the freedom you would feel if you had no debt! The debt snowball has worked for millions of people and it can work for [...]

[...] 18-24 months by using the debt snowball! Imagine the freedom you would feel if you had no debt! The debt snowball has worked for millions of people and it can work for [...]

]]> By: * Dave Ramsey’s Debt Snowball http://www.biblemoneymatters.com/2008/08/to-debt-snowball-or-debt-avalanche-that-is-the-question.html/comment-page-1#comment-6045 * Dave Ramsey’s Debt Snowball Tue, 05 May 2009 20:56:41 +0000 http://www.biblemoneymatters.com/?p=996#comment-6045 [...] Avalanche:The Correct Way to Pay Off Personal Debt: The Debt Avalanche at Consumerism CommentaryTo Debt Snowball or Debt Avalanche, That Is The Question at Bible Money MattersAvalanche or Snowball? at How to Make 7 Million in 7 Years™Debt Avalanche? [...]

[...] Avalanche:The Correct Way to Pay Off Personal Debt: The Debt Avalanche at Consumerism CommentaryTo Debt Snowball or Debt Avalanche, That Is The Question at Bible Money MattersAvalanche or Snowball? at How to Make 7 Million in 7 Years™Debt Avalanche? [...]

]]> By: Knowing What IS « http://www.biblemoneymatters.com/2008/08/to-debt-snowball-or-debt-avalanche-that-is-the-question.html/comment-page-1#comment-1845 Knowing What IS « Fri, 05 Sep 2008 08:26:33 +0000 http://www.biblemoneymatters.com/?p=996#comment-1845 [...] I’m combining debt snowball with avalance right now.  (Here’s AJC’s take on [...]

[...] I’m combining debt snowball with avalance right now.  (Here’s AJC’s take on [...]

]]> By: The Happy Rock http://www.biblemoneymatters.com/2008/08/to-debt-snowball-or-debt-avalanche-that-is-the-question.html/comment-page-1#comment-1759 The Happy Rock Tue, 02 Sep 2008 17:26:46 +0000 http://www.biblemoneymatters.com/?p=996#comment-1759 I agree the point is to eliminate debt and whatever is going to get you to do it and finish,just DO IT! The thing I like about the snowball is that it is geared towards changing and undoing behaviors that got you into the mess in the first place. I have sen numerous people get bogged down on their largest interest debt because they don't get to change their behavior and perspective before they tackle the biggest mountain. I think it is also important to know that we are often only talking a little bit of money between most snowball and avalanche systems. The Happy Rocks last blog post..<a href="http://feeds.feedburner.com/~r/TheHappyRock/~3/381011606/" rel="nofollow">The Ingredient Experiment - Save Money And Eat Better</a> I agree the point is to eliminate debt and whatever is going to get you to do it and finish,just DO IT!

The thing I like about the snowball is that it is geared towards changing and undoing behaviors that got you into the mess in the first place. I have sen numerous people get bogged down on their largest interest debt because they don’t get to change their behavior and perspective before they tackle the biggest mountain.

I think it is also important to know that we are often only talking a little bit of money between most snowball and avalanche systems.

The Happy Rocks last blog post..The Ingredient Experiment – Save Money And Eat Better

]]> By: Ryan http://www.biblemoneymatters.com/2008/08/to-debt-snowball-or-debt-avalanche-that-is-the-question.html/comment-page-1#comment-1742 Ryan Tue, 02 Sep 2008 05:33:50 +0000 http://www.biblemoneymatters.com/?p=996#comment-1742 Our Debtologists at DebtMakeover recommend the TYPHOON Program, it is a system where your FIRST STEP is to transfer all your Credit Cards into NO Interest rate, start paying the minimum on ALL Credit Cards (since cards are at 0 %, all your money is going towards paying off the principle) STEP TWO....Pay extra on your Lowest balance credit card to get you motivated and once this card is fully paid, goto STEP THREE...Then you start paying off your HIGHEST interest cards first NO matter what the balance is, by doing this more of the monthly payment eventually goes to principle and less to interest...TYPHOON Program really works. Our Debtologists at DebtMakeover recommend the TYPHOON Program, it is a system where your FIRST STEP is to transfer all your Credit Cards into NO Interest rate, start paying the minimum on ALL Credit Cards (since cards are at 0 %, all your money is going towards paying off the principle) STEP TWO….Pay extra on your Lowest balance credit card to get you motivated and once this card is fully paid, goto STEP THREE…Then you start paying off your HIGHEST interest cards first NO matter what the balance is, by doing this more of the monthly payment eventually goes to principle and less to interest…TYPHOON Program really works.

]]> By: Eric http://www.biblemoneymatters.com/2008/08/to-debt-snowball-or-debt-avalanche-that-is-the-question.html/comment-page-1#comment-1741 Eric Tue, 02 Sep 2008 02:29:45 +0000 http://www.biblemoneymatters.com/?p=996#comment-1741 I concur, whatever works for an individual is the best method to use. Personally I enjoy the concept Dave Ramsey teaches because it has that psychological effect on people to continue doing it. On the other hand when you are avalanching your debt you could easily be discouraged. I concur, whatever works for an individual is the best method to use. Personally I enjoy the concept Dave Ramsey teaches because it has that psychological effect on people to continue doing it. On the other hand when you are avalanching your debt you could easily be discouraged.

]]> By: Scott @ The Passive Dad http://www.biblemoneymatters.com/2008/08/to-debt-snowball-or-debt-avalanche-that-is-the-question.html/comment-page-1#comment-1735 Scott @ The Passive Dad Mon, 01 Sep 2008 20:39:36 +0000 http://www.biblemoneymatters.com/?p=996#comment-1735 Personally, I liked using the snowball approach as I like to see progress quickly. It will probably save you some money if you use the avalanche approach, but it might not work for everyone. For some, it might seem like a long time to get out of debt and they can become frustrated. Personally, I liked using the snowball approach as I like to see progress quickly. It will probably save you some money if you use the avalanche approach, but it might not work for everyone. For some, it might seem like a long time to get out of debt and they can become frustrated.

]]> By: Miranda http://www.biblemoneymatters.com/2008/08/to-debt-snowball-or-debt-avalanche-that-is-the-question.html/comment-page-1#comment-1731 Miranda Mon, 01 Sep 2008 17:37:53 +0000 http://www.biblemoneymatters.com/?p=996#comment-1731 Since I like to feel like I am making progress, I like paying off the lowest balance first. It's what we did. It can really, really help you feel like you are doing a good job. Sounds like drivel, I know, but for me and my husband, being able to celebrate a little after each credit card was paid off really helped us get excited for the next one. Mirandas last blog post..<a href="http://feeds.b5media.com/~r/b5media/YieldingWealth/~3/lHtmlg1K_ig/" rel="nofollow">Friday Fun Video: Election 2008 from JibJab</a> Since I like to feel like I am making progress, I like paying off the lowest balance first. It’s what we did. It can really, really help you feel like you are doing a good job. Sounds like drivel, I know, but for me and my husband, being able to celebrate a little after each credit card was paid off really helped us get excited for the next one.

Mirandas last blog post..Friday Fun Video: Election 2008 from JibJab

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