Math Is Not Your Problem! (What Are You Doing?)

The Ramsey Show Highlights

Ramsey Network

Business, Education, Investing, Self-improvement

4.5 • 839 Ratings

🗓️ 10 August 2024

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	Brought to you by the Every Dollar app.
0:04.3	Start budgeting for free today.
0:06.7	So I have about $36,000 in debt.
0:12.0	And I heard you take a caller the other day,
0:15.5	and you were talking about the difference
0:16.8	between the snowball and avalanche methods.
0:18.5	And you mentioned that you pretty much will always recommend the snowball
0:23.7	because the math supports that one over the avalanche.
0:27.2	But the several different callers that I heard that that was your recommendation,
0:32.8	they had interest rates for the majority of their debt that were in the general range of, like,
0:39.7	you missed the point of all those calls.
0:41.6	The interest rate doesn't matter.
0:43.5	How much debt do you have?
0:46.4	36,000.
0:48.0	What do you make?
0:50.3	About 75K.
0:52.0	Okay.
0:52.9	And what's the 36,000 on?
0:56.3	I have two car loans, one credit card, and some medical bills, and then a handful, a small
1:05.4	handful of that I owe to individual people.
1:07.6	How much are the car loans?
1:10.8	One of them is for 9,000.
	...

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