credit and debt
supercharging the debt snowball
Yesterday, when I explained about Dave Ramsey’s debt snowball, I said that the biggest drawback is that you end up paying more by paying off your debts in order from smallest to largest, than you would if you paid them off in order of highest interest to lowest interest.
Now, unlike Dave Ramsey, who is hot [...]
the debt snowball
Heard of Dave Ramsey’s debt snowball? No? Well, let me explain it to you.
The idea is that you take all your non-mortgage debts (credit cards, car loans, personal loans, secured loans, etc.,) work out all the balances on them, and the minimum payments. Write them down in order of the smallest balance to the [...]
why i’m not paying off my student loans early
Debt reduction is very popular in the personal finance blog world. Some of my favourite blogging friends are trying to reduce their debt (including being frugal, I’ve paid for this twice already…, single guy money, credit withdrawal, rocket finance, gather little by little, and others).
I have two major debts, the largest is my mortgage which [...]
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