http://www.moneycrashers.com/choose-the-debt-elimination-method-that-is-right-for-you/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 21:28:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.moneycrashers.com/choose-the-debt-elimination-method-that-is-right-for-you/#comment-10588 5 Reasons Why You Might Not Be Out of Debt Yet Sun, 28 Mar 2010 15:22:00 +0000 http://www.moneycrashers.com/choose-the-debt-elimination-method-that-is-right-for-you/#comment-10588 [...] Getting out of debt is serious business, and you need to have a carefully crafted plan for accomplishing the goal. One of the more famous plans for getting out of debt is Dave Ramsey’s plan. Using the Debt Snowball Method, he teaches to list all of your debts from smallest to largest. Then, attack the smallest debt first, and once that’s paid off, put the money you were using to pay off the previous debt towards the next debt. There is some controversy as to whether this is the best way to get out of debt, but Ramsey focuses more on behavior, rather than numbers. He is more concerned with helping you build momentum, which will ultimately motivate you to finish your “get out of debt” plan. [...] [...] Getting out of debt is serious business, and you need to have a carefully crafted plan for accomplishing the goal. One of the more famous plans for getting out of debt is Dave Ramsey’s plan. Using the Debt Snowball Method, he teaches to list all of your debts from smallest to largest. Then, attack the smallest debt first, and once that’s paid off, put the money you were using to pay off the previous debt towards the next debt. There is some controversy as to whether this is the best way to get out of debt, but Ramsey focuses more on behavior, rather than numbers. He is more concerned with helping you build momentum, which will ultimately motivate you to finish your “get out of debt” plan. [...]

]]> http://www.moneycrashers.com/choose-the-debt-elimination-method-that-is-right-for-you/#comment-5069 author Sat, 08 Sep 2007 15:10:43 +0000 http://www.moneycrashers.com/choose-the-debt-elimination-method-that-is-right-for-you/#comment-5069 yeah, i understand your thoughts. You are the exception to the rule. Much of personal finance is mental for some people who can't help themselves from spending like crazy. The other methods help gain momentum and allows people to cross of the smaller debts in hopes of paying off the higher ones. yeah, i understand your thoughts. You are the exception to the rule. Much of personal finance is mental for some people who can’t help themselves from spending like crazy. The other methods help gain momentum and allows people to cross of the smaller debts in hopes of paying off the higher ones.

]]> http://www.moneycrashers.com/choose-the-debt-elimination-method-that-is-right-for-you/#comment-5065 Jacquelyn Hart-McCoy Fri, 07 Sep 2007 14:49:33 +0000 http://www.moneycrashers.com/choose-the-debt-elimination-method-that-is-right-for-you/#comment-5065 I always have used the interest rate method. I want to pay as little interest as possible. The other ones do not make any sense to m personally. But, I am more of a math kinda girl. I don't deal in psychology. I always have used the interest rate method. I want to pay as little interest as possible. The other ones do not make any sense to m personally. But, I am more of a math kinda girl. I don’t deal in psychology.

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