So number one rule, we've got to get control of our most powerful wealth-building tool,

which is our income, which means we have to get out of debt.

Stop borrowing is the first step.

The next step we use to get people out of debt is called the debt snowball.

The debt snowball works like this.

We call it baby step two

in our place, and you list your debts smallest to largest. You pay minimum payments on everything but

the little one. You attack the little one with a vengeance when that debt is gone. You squeeze every

dollar out of your dad-gum budget that you possibly can, and you attack number two. You take six jobs. You sell so much stuff the kids think they're next. And you attack you possibly can and you attack number two you take six jobs you sell so much stuff

the kids think they're next and you attack number three then you attack number four and every time

you pay off one you're freeing up more money to attack the next one the snowball rolls over and

every time it rolls over it picks up more snow and it gets you out of debt now this works

i've taught millions and millions of people to do this and it gets you out of debt. Now this works.

I've taught millions and millions of people to do this, and it works.

Well, Dave, it's not mathematically correct.

You should pay off the highest interest rate first.

Honey, if we were doing math, we wouldn't have credit card debt.

What a stupid but statement is that.

David's not mathematically correct.

Actually, it is mathematically correct because your math that you're using when you say highest interest rate to lowest interest rate leaves out a basic tenant in business math

called the probability of completion.

When you factor in probability of completion, paying off the highest interest rate first doesn't

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