tag:blogger.com,1999:blog-724796690088887546.post3337358458859851324..comments2023-12-07T04:28:02.948-06:00Comments on . . . . . . Bella Maria Mom . .: Debt Free DreamsDebihttp://www.blogger.com/profile/18018499100116949308noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-724796690088887546.post-48367886733814596552011-02-06T14:29:45.260-06:002011-02-06T14:29:45.260-06:00Josette, I just wanted to add that your question w...Josette, I just wanted to add that your question was a very good one, and that if someone is very motivated and had the self discipline to keep themselves going, you could certainly pay your debts in whatever order you wanted to. I know that for me, it's nice to make things more simple to have less payments overall to have to keep track of by getting rid of all the little ones first, but we are going to tackle our credit card first before our van loan because of the interest rate...but they are not too different in what we owe. I appreciate your question because I know I will have to answer many questions soon enough.Debihttps://www.blogger.com/profile/18018499100116949308noreply@blogger.comtag:blogger.com,1999:blog-724796690088887546.post-52478135546273031702011-02-06T00:40:25.324-06:002011-02-06T00:40:25.324-06:00Josette, this is why,
Myth: I should pay off the...Josette, this is why,<br /> Myth: I should pay off the debt with the highest interest rate first to get out of debt quickly.<br /> Truth: You should pay off the smallest debt first to create the greatest momentum in your debt snowball. <br /><br />The math seems to lean more toward paying the highest interest debts first, but what I have learned is that personal finance is 20% head knowledge and 80% behavior.You need some quick wins in order to stay pumped enough to get out of debt completely. When you start knocking off the easier debts, you will start to see results and you will start to win in debt reduction. <br /><br />Based on simple logic, this program works and it has a wonderful history of changing lives. If you have ever heard him on the radio, you know what I mean.Debihttps://www.blogger.com/profile/18018499100116949308noreply@blogger.comtag:blogger.com,1999:blog-724796690088887546.post-12470927918174348142011-02-05T22:42:57.293-06:002011-02-05T22:42:57.293-06:00that is interesting that you pay off the smallest...that is interesting that you pay off the smallest debts first. I would think attacking the bigger ones with higher interest would be the ones. I am glad to see so much good come from this program/and Dave Ramsey's advice!Anonymousnoreply@blogger.com