The Debt Snowball is David Ramsey's method of paying off debt with the smallest balance first. This strategy has been criticized because you would technically save more money and pay debts of faster if you started paying the highest interest rate debt first. However, he acknowledges this fact and counters it with a logical explanation.
David Ramsey gave me a sense of direction with his baby steps. I had to swallow my pride as a financial adviser and accept that I need to learn to do things differently. I am very grateful for his insight and the Financial Peace University for restoring a sense of peace into my and my family's life.
|David Ramsey picture #1 of 11|
On the subject of debt and actual financial advise David Ramsey's major point is to avoid debt at all costs. His motto is "you shouldn't buy it if you can't afford it." He has taken his hatred of debt and credit card companies to an extreme level as he won't accept credit card payments on his websites.
David Ramsey can be heard offering financial advice through his radio show and at several of his websites. His show has been singled out for several awards due to his unique approach in taking calls. He's known for talking to people in a way that reaches them more than just simple financial advice could.