Basically, it cites a blog post by Kristy at Master Your Card where Kristy states that Dave Ramsey's debt snowball does not work mathematically or psychologically.
Kristy writes:
I’ve already mentioned that I don’t like the debt snowball method, so for me
Ramsey’s number two is ridiculous. As a financial “expert,” he should be
teaching people the right way to manage their debts and offer advice on how to
overcome their discouragement with regard to paying off those high interest
debts. He shouldn’t be offering easy-out solutions that don’t teach people the
value of working to pay down their debts. Beyond that, I’m just opposed to
giving financial advice that costs people more money.
I think that Kristy looks at it from a much more savvy financial frame of reference than the people that Dave Ramsey attempts to teach. Like Kristy, I would not follow his Baby steps line by line, nor would I pay of the smallest debt first (unless of course I could do it within a couple of months). I would rate myself above average, when it comes to finances, which is where Kristy probably is as well. Dave Ramsey's advice is great for average to below average financial minds.
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