Comments on: Debt Snowball Method (Part 7) http://www.christianpf.com/snowball-your-way-out-of-debt/ Christian Personal Finance - Financial help, debt help and other financial resources Sat, 21 Nov 2009 05:30:02 -0600 hourly 1 By: dede http://www.christianpf.com/snowball-your-way-out-of-debt/comment-page-1/#comment-15167 dede Fri, 28 Aug 2009 13:05:34 +0000 http://www.christianpf.com/snowball-your-way-out-of-debt/#comment-15167 The 'snowball' method… Does the 'snowball' method really work best? No. it does not. As Mr. Dave Ramsey will admit, the ‘snowball’ method is not his invention (as he may leads you to believe), and unfortunately the steps presented are wrong – paying the smallest amount or paying the largest interest rate loan – are not the proper methods – please watch your steps. The ’snowball’ method…

Does the ’snowball’ method really work best? No. it does not.
As Mr. Dave Ramsey will admit, the ‘snowball’ method is not his invention (as he may leads you to believe), and unfortunately the steps presented are wrong – paying the smallest amount or paying the largest interest rate loan – are not the proper methods – please watch your steps.

]]> By: * Dave Ramsey’s Debt Snowball http://www.christianpf.com/snowball-your-way-out-of-debt/comment-page-1/#comment-12239 * Dave Ramsey’s Debt Snowball Tue, 05 May 2009 20:56:48 +0000 http://www.christianpf.com/snowball-your-way-out-of-debt/#comment-12239 [...] About How to Get Out of Debt at Dave RamseyHow to Start and Manage a Debt Snowball at Mrs. MicahDebt Snowball Method at Christian Personal FinanceRecession-Proof Your Debt Snowball at Frugal DadEliminate Debt with [...] [...] About How to Get Out of Debt at Dave RamseyHow to Start and Manage a Debt Snowball at Mrs. MicahDebt Snowball Method at Christian Personal FinanceRecession-Proof Your Debt Snowball at Frugal DadEliminate Debt with [...]

]]> By: Not Stupid http://www.christianpf.com/snowball-your-way-out-of-debt/comment-page-1/#comment-9206 Not Stupid Fri, 09 Jan 2009 17:08:42 +0000 http://www.christianpf.com/snowball-your-way-out-of-debt/#comment-9206 I make my financial decisions based on a mathmatical approach. Payoff highest interest first is the only way to go. It's extremely satisfying to know that I'm saving myself money. Having a spreadsheet that shows you exactly how much you are saving compared to high balance pay off first or no extra payments is a great motivator. Paying based on the balance is bad advice. I make my financial decisions based on a mathmatical approach. Payoff highest interest first is the only way to go. It’s extremely satisfying to know that I’m saving myself money. Having a spreadsheet that shows you exactly how much you are saving compared to high balance pay off first or no extra payments is a great motivator. Paying based on the balance is bad advice.

]]> By: headknocker http://www.christianpf.com/snowball-your-way-out-of-debt/comment-page-1/#comment-9091 headknocker Sat, 03 Jan 2009 12:44:27 +0000 http://www.christianpf.com/snowball-your-way-out-of-debt/#comment-9091 The 'snowball' method works. It may not be the most mathematically efficient, but it works, and when I talk to people that are hurting, they are looking for results. They understand they have made mistakes and that is why the snowball method works, because it continues to encourage along the way. The first couple of debts that are paid off, give light to a otherwise dark situation, and every time another debt is paid off it reminds them of where they never want to be again. The ’snowball’ method works. It may not be the most mathematically efficient, but it works, and when I talk to people that are hurting, they are looking for results. They understand they have made mistakes and that is why the snowball method works, because it continues to encourage along the way. The first couple of debts that are paid off, give light to a otherwise dark situation, and every time another debt is paid off it reminds them of where they never want to be again.

]]> By: Marc Williams http://www.christianpf.com/snowball-your-way-out-of-debt/comment-page-1/#comment-8249 Marc Williams Fri, 05 Dec 2008 18:04:01 +0000 http://www.christianpf.com/snowball-your-way-out-of-debt/#comment-8249 Very useful, like this one; If we DID what we knew we SHOULD do 100% of the time, using the mathematical approach would be best. Might right a blog about this as well. Very useful, like this one; If we DID what we knew we SHOULD do 100% of the time, using the mathematical approach would be best.

Might right a blog about this as well.

]]> By: Nicholas Z. Cardot http://www.christianpf.com/snowball-your-way-out-of-debt/comment-page-1/#comment-6859 Nicholas Z. Cardot Thu, 02 Oct 2008 12:46:58 +0000 http://www.christianpf.com/snowball-your-way-out-of-debt/#comment-6859 I think this is great advice. And I think that you explain why you should pay the lowest debt first very well. Great article! I think this is great advice. And I think that you explain why you should pay the lowest debt first very well. Great article!

]]> By: mike http://www.christianpf.com/snowball-your-way-out-of-debt/comment-page-1/#comment-6767 mike Sun, 28 Sep 2008 09:42:45 +0000 http://www.christianpf.com/snowball-your-way-out-of-debt/#comment-6767 While the snowball method may sound pretty good, it actually is not very wise financial advice. Instead, one should work towards paying off the debt with the highest interest rate first. The size of the debt is irrelevant. While the snowball method may sound pretty good, it actually is not very wise financial advice. Instead, one should work towards paying off the debt with the highest interest rate first. The size of the debt is irrelevant.

]]> By: WildThing http://www.christianpf.com/snowball-your-way-out-of-debt/comment-page-1/#comment-6650 WildThing Sat, 27 Sep 2008 04:37:18 +0000 http://www.christianpf.com/snowball-your-way-out-of-debt/#comment-6650 This is good advice, but it would be better advice to order your debts by paying off the highest interest rate loan first. That way you lower your interest expenses the quickest and have more money to snowball. This is good advice, but it would be better advice to order your debts by paying off the highest interest rate loan first. That way you lower your interest expenses the quickest and have more money to snowball.

]]> By: Tampera Ward http://www.christianpf.com/snowball-your-way-out-of-debt/comment-page-1/#comment-6352 Tampera Ward Sat, 13 Sep 2008 23:11:16 +0000 http://www.christianpf.com/snowball-your-way-out-of-debt/#comment-6352 I just discovered your website today- HELP!! I need financial advice- I live in Southern California, and I need the name of a reliable debt counseling service- if you could reccomend one, I would appreciate it. I just discovered your website today- HELP!! I need financial advice- I live in Southern California, and I need the name of a reliable debt counseling service- if you could reccomend one, I would appreciate it.

]]> By: the maxx » Blog Archive » How To Make A Budget http://www.christianpf.com/snowball-your-way-out-of-debt/comment-page-1/#comment-5559 the maxx » Blog Archive » How To Make A Budget Sun, 10 Aug 2008 01:01:10 +0000 http://www.christianpf.com/snowball-your-way-out-of-debt/#comment-5559 [...] I think this budget is perfect for people who don’t want to budget. It is simple, does not require too much time, and will help you reach some savings goals. That said, it is still inefficient and leaves the door wide open for inefficient and foolish spending. And we all know where foolish spending takes us - deeper into debt! [...] [...] I think this budget is perfect for people who don’t want to budget. It is simple, does not require too much time, and will help you reach some savings goals. That said, it is still inefficient and leaves the door wide open for inefficient and foolish spending. And we all know where foolish spending takes us – deeper into debt! [...]

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