Just Work the Plan!

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 12 January 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today's episode features Dave Ramsey & Ken Coleman. The Ramsey Show Highlights is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you seven days a week. 💸 Budget for free with EveryDollar: Click Here Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today.
0:06.4	Derek's in Dallas. Hi, Derek. What's up?
0:09.6	Yes, sir. So my wife has a question.
0:12.9	Where's she? We've taken, she's at work right now. Okay.
0:17.4	We took FPU. We've got everything listed out from smallest to largest.
0:22.3	We've knocked out some debt already with the bonus that I got.
0:26.2	She gets a 10-year bonus in January.
0:29.6	She's got seven school loans here, about 19,000 worth.
0:34.7	And her question is, for peace of of mind the credit cards are a lower balance so
0:43.2	theoretically going by the program we'd have to hit the school loans but if we
0:47.6	I'm sorry you said the credit cards are a lower balance you meet the school loans are
0:50.7	lower balance no the school loans are larger balances, but lower monthly payments.
0:57.7	And if we did it according to you, we'd redo the school loans before the credit cards.
1:03.9	No.
1:04.1	No, no.
1:05.1	No, no.
1:05.8	No, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa.
1:07.5	Go ahead.
1:08.6	You said, you just told me that the balances on the credit cards are smaller.
1:15.5	Yes.
1:16.7	Okay, you're supposed to pay off smallest to largest, not payment, balance.
1:22.9	There is, there's two school loans that are larger than or smaller than the credit card.
	...

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