Does Dave Ramsey's Debt Snowball Method Actually Work?

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[@marshill5362]

“A man with an experience is not at the mercy of a man with an opinion.”

[@wadevenerdi1060]

What a great quote

[@virtuosowins]

Golden Words

[@Trapperjohn1000]

Today I’m totally credit card debt free. It feels amazing!

[@NoaNoir]

Congrats man!

[@kiethmergard]

Yay grats. Time to throw a no debt party.

[@shamsmubarak7]

Me too , it feels so great and thanks god

[@Mrdlt_]

Makes me happy to see others doing well, big congrats !

[@GoldenG225]

Congratulations!

[@OhhLovelyLiaa]

Of course it works, I paid off 56k in 10 months and now I am debt free!!!!!!!!

[@OhhLovelyLiaa]

Riccardo Onofri thank you!!

[@TnCouponer]

Congrats on the big accomplishment..

[@clair233]

Woowwwww giving me inspo

[@HereIsWisdom1318]

56,000 in 10 months! Thats awesome!

[@bencorwin]

Wow! Congrats!

[@lovealwaysjasmine]

2:29 “Citi bank what’s in your wallet MONEY” 😂

[@richard1113]

Yea, I got a chuckle out of that too. It would have been better if Dave got the correct bank. That's the tag line from Capital One.

[@theVoid524]

That had me dying

[@lovealwaysjasmine]

Richard Forester oh yeah it is from capital one lol

[@lifewitholga_]

🤣😅 I fast forward to it Thank you

[@davidjimenez7719]

Bruh 😂🤣 dead

[@quemino]

Yes. I've paid off 56k of a 100k debt so far. I feel so empowered. Life changing. thank you Dave!!

[@PartScavenger]

Dude. Way to go! You're killing it

[@du-gu2mm]

how?

[@chYnaRIP]

I chose the avalanche method, and let me tell you, it feels like I'm right where I started 3 months ago. I know I'm making progress, but it's not quick, and it's not very satisfying. The snowball method definitely makes you feel like you're accomplishing more.

[@heartquaked]

I’m waking up a half hour early to listen to Dave every day. Starting the day off RIGHT!!

[@zachallen8653]

Worked for me! Paid off $25k in student loans in 2 1/2 years and am debt free!

[@IsaiahLove-go2kx]

Yea no cap folks Ramsey is the guy. ✊I got out in 18 months only a Mortgage left ✅🗣

[@USAFWeatherNerd-ATC]

I am a lucky Federal Employee that "met" Dave years before the Government Shutdown happened. I am debt-free and have a fully funded emergency fund. While others are freaking out im sitting back (going to work everyday unpaid) and drinking the Ramsey lemonade. Thank you Dave!

[@jaydynamite8680]

Well done. Fact of the matter is...no one can predict the rainy days. Dave's plan works. It's that simple!

[@lawrencemead1291]

I agree and am one of those workers on "delayed compensation". My wife and I have been debt free for about 2 years. Praise the Lord we have an emergency fund.

[@gguunneer]

Same same but different. I was in a situation where I was closer to home and moved into my sisters.

[@kimberlyturner820]

Lol. Sweeeet.

[@douglasgrant8315]

@@lawrencemead1291 Just because a person says they are a Christian doesn't mean they are gifted and make smart decisions.. People get over whelmed with sorting out complexities and then think that leaving it in Gods hands to deal with there particular issue is going solve the problem. This just an excuse for ignoring wisdom. Regardless of faith people have to be smart about things especially when it comes to money.

[@cc-journeytowardsfinancial7060]

I raised my hand when Dave asked that first question. I had $12k in credit card debt and $40k in school loans haha... it's funny thinking about all that stupid debt. But thankfully I ran into Dave Ramsey and his FPU program. I'm proud to say I'm $8k away from being debt free and started a youtube channel talking about the process and my experiences. The debt snowball works!

[@robertspencer5219]

Never heard Dave say this but when you get rid of credit cards smallest first you quickly eliminate the chance of a late fee or over limit fee from that card. Plus less cards, less feeling like you are juggling razor blades.

[@motoryzen]

Adding to your point, you're also eliminating more points of failure involved possible i.d. theft. Ya CAN'T commit i.d. theft when you steal someone's physical cash. Tried and true fact there. ;)

[@paulneugbiyobo4156]

Dave's message is rely on cash your cash the credit card is a big temption that is likely to get you into debt sooner or later.

[@notmebutyou8350]

"juggling razor blades." 😂😂😂 That's a great way to put it!

[@bdavis6450]

I love how Dave talks, so honest

[@Musicienne-DAB1995]

It is so refreshing to hear a man who doesn't shy away from giving his opinion.

[@AngelTechno]

Yep.. he's got to be brutal, that's how people change for the better.

[@bobbyb7672]

It worked for me. I paid off all my debt...

[@michaeldickens3357]

Same here...

[@76482]

Worked for me too.

[@racpatrice]

I paid off all mine on the 28/02/2019!!! I'm so happy that I'm giving that same monthly payment i used to pay towards debt every month to bless the kingdom of God this month 😁

[@JasonsCreations]

@@racpatrice Are you a Millionaire a year later? are you still debt free?

[@zig_ma]

Just clipped my credit cards and am moving into a cheaper apartment to free up enough income to start the snowball.

[@laurenwallis3319]

Good luck!!

[@zig_ma]

@@laurenwallis3319 Thank you!

[@r3d_ti3_guy]

How’s your progress?!?! It’s been 6 months.

[@NoaNoir]

God bless you hun

[@TERMIN8TOR99]

Been a year now hows the progress

[@jv4nderh4m]

Bad debt puts profits into someone else bank account, your debt is making others wealthy!

[@notmebutyou8350]

"Your debt is making others wealthy." Thank you for stating that. That is a VERY powerful statement, and so true. I am going to remember that every time I am tempted to purchase something that I don't need.

[@lovethemflowers]

He’s absolutely right about the debt snowball. I WAS excited when that first debt was paid off! I put the statement that read 0.00 up on the wall in front of my desk with “PAID OFF!” in big letters. Did the same for the next debt. With the third and final one, the scheduled payment was $125. I paid $375 each month for the last nine payments. At $125 a month, it would have taken until about July 2019 to be paid off. I wanted it out of my life way before then!

[@slydogger]

Recent cold spell in Las Vegas exposed my heater was not up to the challenge. Life happened for over $9K-cut a check and moved on with my life. Feels good to be a debt-free gangster.

[@lunallena5594]

Debt-free gangster is awesome!!

[@sbranham314]

Wish I took a Dave Ramsey class at 16, I'm almost 28 now and following a plan to get out of debt in a few months.

[@itsmakeke]

I’m 28 and will be debt free in a few months as well. Better late than never! Keep pushing.

[@kate215]

Good for you, I’m right behind you! I’m 29 and wished I would have known about Dave at 16, but I’m glad it didn’t take me until I was 50 to discover him. It’s good to develop good spending habits early on in life :)

[@sbranham314]

@@kate215 you will get there! We all take different paths in life.

[@kate215]

Samuel Branham absolutely! Here’s to a debt free life ahead!

[@dariusfitnesspro4163]

My wife and I paid off $30k+ of debt, not only is our finances freeing up but also our income is rising while our debt is coming to an end. Everyone can do this, it’s very doable!

[@robertcampbell6349]

Yes it does. I was out of work and skimping by on just my Air Force retirement. I used Dave's snowball method to pay off my credit card debt in less than a year. It works and it works very well.

[@newyorkssafestllc844]

“Sally mae has her own bedroom in your house!” Lamplighter!😂

[@girlthatsgazelle700]

This man changed my life! Thank you Dave!!

[@Master_of_sum]

It’s partially a cash flow solution too, when an account is closed the minimum payment you were making is now freed up for other debts, and this compounds.

[@Musicienne-DAB1995]

Great point.

[@fhuber7507]

The principal behind the snowball is a psychological effect. When you see you can make progress vs debt, you are more likely to actually work on getting out of debt. So clearing one debt fast will make you more likely to follow through on paying off more and thus eliminating debt. . Its a behavior training system. . Your behavior got you into debt. You have to change your behavior to get out.

[@fhuber7507]

I'm a math nerd who used the math to figure out that my behavior needed to change. No... I'm not Dave's normal audience. I understand BOTH sides of the issue. The human and the math. And the vast majority need the human side solved first.

[@steelwheels327]

Change the behavior first ,makes total sense .....he's right !

[@debtfreeforcanadians9386]

I think using the snowball method was one of the key elements to us getting out of debt. I strongly recommend it.

[@naesospiritual1050]

How much debt did you have ?

[@BadBrad119]

thanks Dave, I signed up, I graduate this year and want to pay off my debt right away. I really appreciate seeing an email series like this

[@cynthiaeckstine8532]

God had a plan for you Mr. Ramsey! God doesn’t give bad gifts, and look how it turned out. 🙏🏼✨You helped your family and millions of others.

[@freeagent9753]

So glad I started watching Dave. I think all families should learn his teachings 👍🏽

[@aldelgado9343]

Live within your means, and save .

[@meganheying4085]

Live within your means, save, and invest!!

[@aldelgado9343]

@@meganheying4085 invest wisely

[@meganheying4085]

Definitely!!!

[@P0k3D0nd3M4cG]

That's not an option for some

[@harmanjotsingh4230]

But not into a savings account lol ( at least not beyond your emergency funds)

[@charliethomlin6434]

I'm 14 and I've been debt free since 01/01/2006!! Thanks Dave!!

[@BootyWarrior80892]

😂😂😂

[@marvinmcmiller6238]

Amen!!! It's true there is a lot of scriptures in the bible about money.

[@Solrac77777]

I used the snowball method to pay approx $8k-10k worth of debt. Thank you Dave!

[@r3d_ti3_guy]

Cut up my credit card and 2 months later, 40% of that debt was paid off. You can make the conscience decision to be disciplined. It’s a mind set. DO IT!

[@SherryEllesson]

Dave, wanted you to know I live on an extremely modest income and thanks to having listened (over and over) to your Financial Peace CDs, have made budgeting fun - I actually have a scrapbook page for each month (yes, I know - but still, it's fun) and at age 68 - still making mortgage payments, etc - I'm living the dream of starting a Back-to-Eden orchard & garden and living large on very little money. Thank you SO much!

[@tonydowning4220]

I love the straight forward!! Thank you for this

[@therealnikrich]

What’s in your wallet ? Money 😂

[@mitzisnails9209]

I love how you go along with bible structures I’m catholic, and I really believe in God, avoid debt. I’m actually doing FPU, through my church. Thank you Dave

[@Promisedland_garage]

It does work,at first its really hard but TRY IT

[@lovelyrose1867]

I just paid my first small debt off in useing this effect! And I am super excited about paying off the next one! Thank you Dave for your amazing advice!

[@miguelbreton6723]

What i learned from paying down debts while cutting expenses : I will continue savings a lot of money even without debt, because i would not have been happier if i had more disposable income during the debt snowball journey. What brings me joy is to attain a greater goal in the long run. Truth joy came to me from achieving my goals, not from buying status symbol expensive items.

[@turtleanton6539]

Yea indeed

[@YuukitheMighty1]

I have almost 8k in credit card debt, so new year new me. I’m going to do this method to grt rid of this credit card debt. I picked up a second job to help. I wrote down all of the credit cards I had in order from the least amount to highest amount I owed along with the minumum payments for each card respectively. My goal is to have the CC debt gone by December 2020. Wish me luck guys!

[@KrazySoul1]

Hi its 4 years later are you debt free now?

[@carollavalley8490]

Absolutely brilliant!!! Thank you Mr. Ramsey...for the first time in my life I feel financially empowered!!!! God Bless You!!!

[@mr.speyside5240]

I got my mom onto Dave Ramsey. She loves your videos! 🙌🏽

[@CoolkenyanInisrael]

Great advice

[@unkownuser5809]

I know its wrong per Dave's plan, but my 2nd highest debt is $10,800, and I'm going to pay it off first as the monthly payment is $400 per month. That will create a larger shovel to attack the others faster, which have payments of $150.

[@jdubo1998]

Go for highest interest first. Not highest monthly payment.

[@unkownuser5809]

@@jdubo1998 yeah but highest interests will only free up about 120 per month, this loan paid off will give 400 extra per month to use in paying other debt.

[@jdubo1998]

@@unkownuser5809 You pay that regardless. Mathwise, paying highest interest first is what will save you the most money. This is because you are always paying interest first, and the extea money goes towards principal. Having that extra money go towards principal in the higher interest will cause less interest to be added to your total debts. However I understand, as it is a great psychological victory to get rid of the big debt, so go for that one if you think it will have the best effect on keeping the anti-debt mentality.

[@unkownuser5809]

@@jdubo1998 Either way I am just happy to have the ability to get out from under this.

[@GacekDnb-dx7dp]

Dave is Right is WORKING 100% helped me will help any one of you!! Thanks Dave Ramsey Team

[@_maya_jackson]

It works for me and keeps me very motivated. Thanks uncle Dave 😊

[@Derek48519]

Just finished step 3. Hard to believe what can be done.

[@snelso80]

Nothing works if you don't - Mark Lobliner

[@jeffmiller1140]

Does the debt snowball work? Absolutely! I'll be done in May!

[@ihateMCC]

Nothing ever exciting happens on my birthday!Sorry you went bankrupt on my birthday, Dave but I’m blessed to be here listening to your sound financial advice!

[@celeste1121]

Currently working on the snowball method got 1 down 3 more to go!

[@jessicahandler525]

Great video

[@andrewlantz5148]

Thank you, from knoxville, Tn

[@Hamka-zn7xi]

I used snow ball method before I saw Dave Ramsey show what coinsidence...

[@danskisbees7348]

Listen to the man, he knows what he's talking about. He doesn't want or need anything from you, he's doing this to help people.

[@TrioTunes81]

He also sell curtains in his show too.

[@danskisbees7348]

@@TrioTunes81 Hello Jack, you're right, he definitely has paid endorsements. And they are needed to pay for expenses. I imagine a few of his expenses would include airtime, labor, employee benefits, taxes, utilities, etc... However, he's debt free and his business is debt free. Even when we are debt free as individuals, we still have expenses. We have to pay for food, utilities, fuel/maintenance, insurance, taxes, etc... Come to think of it, I could use a few paid endorsements. Do you have anything for sale that I can advertise for you?

[@danskisbees7348]

@Bobby Shupinski Do you go to work for free? Doubt it

[@danskisbees7348]

Hey Bobby, this is America, if he wants to work, let him work. Do the research, the man practices what he preaches, Google how much his house is worth and then you tell me if he needs to work. If you've listened to him for any length of time you probably already know that he's going to work until he dies and that he loves what he does. I wish I loved what I do. I'm with you Bobby, if I had an income stream to were I didn't have to work, I would spend time doing the things that I enjoy, of course, a lot of those things entail work, just not what I'm doing now. I think he just happens to enjoy what he does.

[@makingchangeslifechanges4950]

I luv you Dave.. your awesome God Bless from NZ

[@justin8771]

Facts tell em Dave haha he was going off on em the debt snowball definitely works and I’m applying it to every part of my financial life at 23 years old start young so later on you could live and give like no one else

[@jordyjustine]

Pure GOLD!

[@tylerh2429]

Snowball method is amazing for people that need more gratification. It gives you a pat on the back and is encouraging. Great method The avalanche is methodical and precise. If you are good with this method you shouldn't be in debt in the first place. When I look at the spread sheets the avalanche get me more excited personally, but I'm not in debt, im just running hypotheticals in my head.

[@Phil_Melone]

It's working for me I'm almost finished paying off my first credit card. Feels great!!!

[@patshanaebrown681]

my credit card debt was killing me until Brian helped pay my balance of 12k , he paid few others of my loans to. Man is the real deal, text him on (2 67 )5784862

[@felipesoto2010]

Mr. Ramsey has done more good to all Americans than any single entity, or institution. Mr. Ramsey is the Red pill of financial stupidity. Thank you Sr. For setting my life for sucess.

[@Jonhiggen]

I took out a loan at 0% on a zero turn lawn mower... thanks Dave. Feel stupid now. Paid off now tho

[@leonardlen-ccrowder7992]

The debt snowball really works it worked for me 🤑💪

[@duneme]

I’m weird! Or I should say, My Wife and I are weird! We have been paying off our debt by interest rate but, I agree with Dave’s Debt-Snow-Ball approach! For MOST people the Snow-Ball approach is the right way!

[@markwhitton8785]

Absolutely true 👍, behaviours are the key. Same in sport, behaviours and discipline with talent almost always beat talent by itself.

[@foolishcreations2259]

Dave Ramsey = Legend

[@coachprescott72]

You're the man

[@patshanaebrown681]

my credit card debt was killing me until Brian helped pay my balance of 12k , he paid few others of my loans to. Man is the real deal, text him on (2 67 )5784862

[@freshurb8963]

I am starting my journey this month.

[@susankitaka1456]

Yes it works and I love it and always do it.

[@MikeyFFA500]

It really does.

[@cesargalvan896]

Thank you 🙏🏻 Mr Dave to help me and teach me how l can pay our Deb we staring from that small to that large usen that snow ball way !! Is working we Declare we are Debb free this year!!!😁GOD BLESS YOU🙏🏻

[@TrickyBoa]

I can watch this video 1000 times.

[@lilianabossaolmos6787]

PHD in D U M B!! 😜😜😜 Good !! Lol! Good stuff!! Thank you Dave!!!

[@Tech-ot4iy]

You haven't felt true fear until you almost overturn a zero turn on a hill.

[@aerophoenix1]

The debt snowball method works, it just sucks that it doesn’t work within a day, but after a couple of months, or however long it takes, it feels amazing.

[@turtleanton6539]

Yes😊

[@jhelmuth6037]

I believe Debt works for me. That's why I have to work 16 hours a day so I can give Debt his paycheck at the end of every week

[@jhelmuth6037]

As in (my employee)

[@Rashaadthegr8]

Just got my Everyday Millionaires preorder yesterday. :)

[@lilken21]

Sophisticated Swanson just received mine about 5 min ago. 🤩🤩

[@arleneaugustahair8393]

💃🏾💃🏾💃🏾💃🏾💃🏾

[@GS.9093_Mart]

How was the book???

[@Rashaadthegr8]

@@GS.9093_Mart Eye opening

[@GS.9093_Mart]

Sophisticated Swanson nice, i read retire inspired. That is eye opening too.. got me thinking deeply about my retirement and im only 25!

[@whonos]

Haha, this video is great!

[@maalikaulmulk]

It has worked for me. I've paid off a 5500 dollar credit card and 2100 loan. Now on to this 40,000 school loan.

[@mattadelsperger]

My birthday is Sep 22. Good omen!!

[@adalycean]

Snow balls work,, just pay stop using credit cards period ,, thanks sir Dave

[@Jahmed163]

Worked very well for me.

[@InvestingHustler]

5:19 was that a shot at meet Kevin 🤔

[@viratchhikara992]

lol

[@mojorisen74]

That's EXACTLY what I thought lol....

[@kachtev]

Yep. Shots fired

[@thomasyork6640]

He is right though, meet Kevin just threw a punch at Dave for no reason. I follow both channels. Dave is more helpful to the average person than meet Kevin.

[@davidjones1310]

Not really. He says that all the time (since long before Meet Kevin took shots at him).

[@juanmena4676]

Should I stop paying into my 401k to Payoff my debt with the debt snowball. I make 112k/year, with 28k debt

[@jamesduggan5846]

Yes

[@Lizbett21]

Thank you!!!!!! I payed off 13,000. in one year!!!

[@EricaWorshipsGod]

I'm in baby step 2. Can anyone tell me whats the best way to make the payments for that? Should I make the regular monthly payment and make 1 more payment at the end of the month with the extra money I want to throw at it? Or should I do that weekly (I do both a monthly and weekly budget)? Any input is appreciated.

[@carolyn5360]

Dave, where does tithing fit into the debt snowball?

[@ir10031981]

just do the stuff he teaches man, just do the stuff! ;)

[@matthewwilliams9200]

it gives you a reward you pay that small debt you now have 20 50 100 dollars more you never thought you'd have to apply to next debt. Dave's helping people hes genuinely helping and was a lone voice to help in this area for years

[@ramonuy5567]

We all been there !!! STUPID . Hallelujah

[@Jason-nv5rp]

It works, I bear witness!!

[@paulneugbiyobo4156]

I love this man in a Godly way he says it as it is.

[@deborahelliott8460]

YES--IT WORKS! Avalanche will work only if you stick to it, not everyone will when things happen and you start needing money. People again start to borrow money to stay out of debt from one thing, and get more debt because of it.

[@DerekOldfield]

Is there an app anyone recommends to help lay out the debts (with payment amounts) in order from smallest to largest? I guess a spreadsheet would work. I'm not asking if an app can get me out of debt, just something to help track amounts, balances, etc.

[@insideoutsideupsidedown2218]

Use WORD....just type it out.

[@mosaicclassics]

Ha! The auto-generated subtitles keep interpreting it as the death snowball.

[@Syne1nz]

I find it hilarious when I see a post from someone saying "the debt snowball is not the best way to pay off debt because of interest rates" do what works

[@danielelder6631]

Avalanche worked for me.