The Total Money Makeover: A Proven Plan for Financial Fitness (3rd Edition Revised and Updated) by Dave Ramsey

Author:Dave Ramsey [Ramsey, Dave]
Language: eng
Format: azw
Tags: ebook, book
Publisher: Thomas Nelson
Published: 2009-12-29T05:00:00+00:00

If you really believe that wealth building will no longer be a dream but a reality if you have no payments, you should be willing to do bizarre and sacrificial things to have no payments. Time to pay off the DEBT!

Baby Step Two:

Start the Debt Snowball

The way we pay off the debt is called the Debt Snowball. The forms are on the following pages, as well as with the budget forms in the back of the book, and they are part of the Financial Peace budgeting software. The Debt Snowball process is simple to understand but will require truckloads of effort. Remember what my pastor said: “It isn’t complicated, but it is difficult.” We have discussed that personal finance is 80 percent behavior and 20 percent head knowledge. The Debt Snowball is designed the way it is because we are more concerned with modifying behavior than correct mathematics. (You’ll see what I mean shortly.) Being a certified nerd, I always used to start with making the math work. I have learned that the math does need to work, but sometimes motivation is more important than math. This is one of those times.

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