if you owe $14,000 at 7% and $14,500 at 21.99%, you must pay the smallest debt first.
What is wrong with him?
If you owe $14,000 at 7% and $14,500 at 21.99%, you must pay the smallest debt first
just take advice literally no thinking
sometimes I wonder what kind of retards browse this website
owe
I'd just not pay back. Lmao. Imagine lending money to me when I have 0 credit.
If people could think they wouldn't max out their credit card and then not pay in full.
It's called a debt snowball, faggot. Not like the snowball you took in your mouth at the bathroom in the gay bar last night.
He obviously isn't accurate when describing his idea. He is talking about different magnitudes of loans, typically a scale of 2x to 10x differences, with interest rates that aren't from the grey market like in your example. This is good advice for 99% of his audience.
I don't trust him because I don't like the way his henchmen talk. I had to take a "course" of his in hs, besides them all having the same robotic and seemingly forced hand movements, they also had this gay lispy sound when they spoke.
Never trust someone who sounds like a narrator for a google ad.
HI. I have a general question about Onwership shares in a big company:
Can I also act as a shareholder and acquire shares in BANDAI NAMCO as a private person?
What minimum amount of shares can be acquired and are percentage ownership shares only in the 2-digit or 3-digit % range?
For example, can I only purchase 0.023% share shares?
In what percentage range are the ownership shares of a company in 2 or 3 decimal places?
He keeps it simple for retards and at the end of the day it doesnt matter much as long as you pay off all debt asap. Usually smaller debts have a higher interest rate anyways
Defund the police! Well actually we don't mean that, we mean *words words words*
Believe all women! Well actually we don't mean that, we mean *words words words*
Pay off your debts smallest to largest! Well actually we don't mean that, we mean *words words words*
His advice is for sub 100 IQ normies, not autists that visit the finance section of anime imageboards. They see a number going down and they feel motivated to keep going.
he has literally never said that
Fun story I'll only share anonymously on an image board.
I followed Dave Ramsey for a year. I Dave Ramsey'd 32k of student loan debt. Years later in Bidenomics, I was eligible for a refund of 17k because of how much money I had dumped into my loan during the year leading up to the pandemic. I took the refund, which is affectively just a loan, as two checks, cashed them, and now I'm back to paying off 17k of student loans. Hilarious, and I'll never tell anyone.
In hindsight the Ramsey thing was incredibly stupid. 32k saved in the bank would mean I would be that much closer to a house. In hindsight though at the time I didn't have any skills and was freaking out trying to figure out my career path, so I think I latched onto the Ramsey thing to force myself to grow up, which did work, now a software dev with the opportunity for big raises in the coming years.
This, his advice is for debtmaxxed normalfags who are retarded enough to get into credit card debt
Lmaoooo true the absolute state of these people
If you pay it off in less than 6 months the interests is meaningless tbqhwyfamlma. Also, if you need Dave you’ve already lost.
Kek
Make America great again! Well actually we don't mean that, we mean *words words words*
almost as if people coin catchy phrases to represent broad and nuanced ideas. Mad I know...
Personally, I would pay the higher interest loan off first. Maybe I'm a finance nerd. That is why I enjoy the Anon Babble board on Anon Babble.
Accurate post describing what life is like for low IQ "people". Holy shit it must be irritating to go through life looking for a 3-5 word slogan to base your entire life on and keep getting hit with "well actually words words words".
I feel bad for them but not as much as I feel like I'm not exploiting them hard enough.
The difference is in the monthly payment and the goal is to free up cash flow. It makes you more anti-fragile, for one, to have a lower monthly minimum payment. It also lets you snowball that excess money into higher interest debt.
When I was paying off my student loans, I had several different loans: a stack of federal loans that had a lumped minimum payment that I could either apply to all of them evenly, or pick and choose (so I had loans numbered A through like L, with differing interest rates ranging from 4% to 7%; if I used autopay, it would apply the eg $500/month payment to each of them evenly. If I did autopay, I could put the full $500 towards a 7% loan and the other loans would be considered paid for the month even though I didn't pay any money towards them individually.) I also had a private student loan from a commercial bank, and credit card debt.
Now let's say the federal loans wanted $500/mo minimum. Let's say the private loan also wanted $500 minimum. And let's say the CC wanted $100 minimum. Even though the CC was at the time 18%, I basically ignored it and only paid the minimum, because on a $1800/month salary starting out, I was paying $1100 on debts before food and rent. The private loan from the bank was the smallest loan (with a shorter repayment window and higher monthly payment, even though the interest rate was like 4%). So what I did was pay that one off first. In a little under a year I got that one paid off by putting almost all my money into that loan. I also got a raise, so now I was making $2400/month, and my minimum payments were still $500 on the federal loans and $100 on the CC. So my disposable income went from $700/month to $1800/month.
THEN I paid off the CC to increase my liquidity, and it was the highest interest rate loan, but that took like 3 months. So now my disposable income was $1900/month and I had a lot of unused credit. So I leaned in hard on the federal loans and was done in 3 years total.
Pay off your loans goy
t. Triggered tranny lib
you have to remember his audience is the type of normie where eliminating a monthly cc payment from their "budget" would actually move the needle.
of course it's better to pay the higher interest loan first no matter what, but interest is intangible, normies don't think about it or even look at their statements they just pay like piggies
/thread
Won't know what to tell you op, I don't own any debt, I just farm on blocklords and get my bag
I prefer pic related's advice on debt.
retarded christcuck boomer tells you to pay your debts and live in poverty while you do it
this has to be a joke, only low IQ people must listen to him to feel reminiscence of imaginary good times they heard from their retarded parents. I cannot find any other reason.
cousin has $10k car loan outstanding
has $10k credit card debt outstanding
gets $10k windfall, and asks for advice
duh, pay off that credit card
pays off the car loan
wtf, why you never follow my advice?
if I go bankrupt, the car will be paid off, so I'll have a place to live
Logical.
file bankruptcy and start over
If the car is paid off they can seize it to settle your debts. If it's on finance they can't.
CAN I DO LIKE $2 A MONTH, MAN? HEY GOT ME ON THESE PILLS!
also
CALL ME BACK WHEN YOU'RE AMERICAN!
If an Indian calls you, you don't owe them ANY money.
This. It's so cute how peasants have no idea how property works. I knew a guy scared of bankruptcy because he thought they'd take his playstation. Out of the room where he lives. In his parents' house. That they actually bought for him for Christmas so it's on THEIR credit card statement.
That just means don't pay your car off right
My coworker has student loans broken up into different amounts and interest rates. I keep telling him to pay off the higher interest loans first but he's too focused on paying off the smaller dollar amount loans. Ah well, you can only lead the horse to water. No need to listen to the guy that paid off his $160k student loans in 2 years.
If your goal is to live out of your car dodging debt collectors.
except Dave Ramsay always prefaced the debt snowball idea with the fact that paying off by interest is better