Originally Posted by
Irving
I paid off a lot of debt with a low paying job, in a relatively short amount of time. I developed my own method of doing so, and after having great success, found out that it was pretty much exactly Dave Ramsey's method. I knew the old addage about paying the highest interest off first, but recognized that by paying off something smaller first, it would boost my confidence to continue, make my lost of debtors one shorter, and finally that I could roll that amount into my next biggest debt to tackle.
If you hear Dave Ramsey respond to the question of why smallest first, instead of highest interest first, he says that they'be done the math both ways and the difference in the end is negligible. That is also what I found, as I spent a lot of time playing withs trying to find the best way to get oit out of debt.
I also agree that Dave is good to follow for getting out of debt, but not the best for making money. Two different, and sometimes conflicting, mind sets.
