Carmell226
Mouseketeer
- Joined
- Aug 1, 2008
If you do, please tell me if you think it works. We are looking into it and I am just curious what others have to say.
I am not a Dave Ramsey fan but his system seems to work for a lot of people. I disagree significantly with some of his advice like attacking the smallest debt first - I believe you need to attack the highest interest rate debt even if it is larger. But getting debt free is sound advice no matter how you achieve it.
I am not a Dave Ramsey fan but his system seems to work for a lot of people. I disagree significantly with some of his advice like attacking the smallest debt first - I believe you need to attack the highest interest rate debt even if it is larger. But getting debt free is sound advice no matter how you achieve it.
I've been using a website called whatsthecost.com, it's a website that you plug in your numbers and it will give you a plan on how to "snowball" your debt. Went there this morning to plug in my monthly progress and the site wasn't there!
I think the snowball method only works if you have lots of debt scattered across many sources - then I can see the benefit. But it made no sense for us to work on paying off my car when we were racking up 20% interest on CC debt.