Comments on: The Debt Snowball Saved my Marriage: Spreadsheet Tell-all

By: Tom B

Tom B — Fri, 14 Oct 2011 14:30:52 +0000

getting out of debt is probably the most important thing you can !! ! Don’t let the big bank win is right!

By: Mike Carson

Mike Carson — Wed, 21 Jul 2010 13:34:48 +0000

It’s so important to get a handle on debt. If you are looking for professional help, I recommend http://www.debtguru.com. They offer great consolidation credit counseling that will help you get out of debt for good.

By: Alfredo Etnies

Alfredo Etnies — Mon, 05 Jul 2010 23:50:58 +0000

I really feel that tenants nowadays get the worst deal in lots of areas. As an example, insurance for tenants costs so much extra. All the laws are in favour of those who have bought their property. Apart from they don’t actually own it, because the mortgage company really does. Therefore why should “owners” receive a better deal for services.

By: BJ

BJ — Mon, 14 Jun 2010 23:02:27 +0000

Hey Paul…I have a couple of credit cards that have two interest rates (Purchases & Transfers). How do I incorporate that into this spreadsheet? Thanks in advance!

By: Get Your Finances in Order | The First Month

Get Your Finances in Order | The First Month — Wed, 26 May 2010 12:04:35 +0000

[...] If you have any outstanding debt, create a debt snowball. Fiscal Geek has a great post on how he created his own debt snowball. [...]

By: Dave Ramsey’s 7 Baby Steps: Step 1 – $1000 To Start A Baby Emergency Fund

Thu, 13 May 2010 16:02:57 +0000

[...] saving up your $1000 emergency fund, the next baby step is to pay off all your debts using the debt snowball. Stay tuned for that next [...]

By: WR

WR — Sat, 01 May 2010 03:36:32 +0000

I love it!

This is precisely the mentality one must have when tackling their debts. Small successes inspire repeat behavior. Behavior repeated becomes habit. It is the rituals we establish that make us wealthy.

I get some of the same feedback with the strategy I espouse, namely funding your contingency fund, paying off debt and giving to charity all at the same time. The most common is the one you cite, “It’s all about the interest rates”.

It isn’t. It’s all about getting small successes under your belt and establishing the habits that will pull you out of debt and propel you to financial independence.

-WR

By: What's a Good Credit Score? Should You Care and How to Check It

What's a Good Credit Score? Should You Care and How to Check It — Wed, 14 Apr 2010 20:23:05 +0000

[...] our conversations here are limited to getting away from credit but I want to talk about something you cannot ignore which is your credit score or its official [...]

By: The Single Most Important Financial Step

The Single Most Important Financial Step — Mon, 08 Mar 2010 14:46:44 +0000

[...] 3. Pay Down Debt [...]

By: 10 Shattered Financial Templates — Untemplater

10 Shattered Financial Templates — Untemplater — Fri, 05 Mar 2010 12:11:18 +0000

[...] use as much of our savings as possible to accelerate payments. Current thinking takes psychology (debt snowball) and emotions (debt tsunami) into consideration, and advocates that hoarding cash is more important [...]