The Debt Snowball vs. the Debt Avalanche...Which Is Better?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 20 December 2021

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day 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, Christy Wright, Dr. John Delony, and George Kamel. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:11.0	Kelly, or Kenny is with us, rather.
0:12.8	Kenny is in Savannah, Georgia.
0:15.5	Hi, Kenny.
0:16.1	How are you?
0:17.7	Hello, Dave.
0:18.8	Thank you guys to take my call.
0:20.2	Sure.
0:20.6	What's up?
0:22.3	So I have, so I recently came across your show about last month, and it really motivated me to pay up my debt.
0:30.1	I was young, dumb, and stupid in the military, and I accumulated a lot of credit card debt,
0:35.1	and I also financed the car, which is another stupid decision I made.
0:39.3	But I kind of follow your debt avalanche method about three weeks ago, and I paid off $5,000
0:46.3	towards my credit card.
0:47.3	So now I only have $16,000 left overall debt for myself.
0:53.3	My wife is different. She's a student right now. She's about to graduate
0:56.7	with her degree. So I just want to know what's the best way to tackle that. Should I keep following
1:01.5	the debt avalanche or just do the debt snowball? I already have an emergency fund in place already
1:08.3	the baby step one. Gotcha. Okay. Well, at ramsie we don't teach the avalanche we
1:13.0	teach the debt snowball okay okay and that's listing your debts smallest to largest paying minimum
1:19.5	payments on everything but the little one and attack the little one we also teach you that there are
1:24.4	that when you are married we are one the preacher said and now you are one
	...

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