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The one thing to keep in mind with Dave Ramsay is that his method

works in a psychological sense which may very well be what's needed more than anything, but in a strictly numbers sense, the Ramsay Snowball method ends up with you paying more interest and therefore taking longer to pay off debt.

Mathematically, you should pay off the highest interest, not lowest principal, loans first.

I suppose it is easier for someone to see the snowball of the number of loans go from 5 to 4 to 3 than it is for them to see the snowball of their total debt go from 20k to 15k to 5k.

So, I have a hunch that how you got into debt dictates how you get out of it. Was it a lack of discipline? Ramsay Method. Was it out of your control and you trust the math? Math Method.

(In response to this post by JKHokie-RunFor32)

Posted: 02/18/2021 at 10:48AM

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