Five Cent Nickel has written two posts about Dave Ramsey, and Ramsey’s Debt Snowball. The first post, Nickel’s most popular post, was written a year ago and is entitled: Dave Ramsey is Bad At Math. Wow. That particular post stirred up quite the reaction. Over 90 comments later, Nickel decided to write another post, which comes at the same subject from a different angle: Dave Ramsey is Good At Psychology. (I used Dave’s snowball method to get out of debt, and I’m a big proponent of his “Baby Steps”. Nickel was kind enough to ask me for a quote. Check out Nickel’s article and you can read my quote and the other comments.)
In all seriousness, when you get ready to pay your debts, I feel that you need the emotional boost that paying off those smaller balances provides. I know that when I was getting out of debt, I LOVED knocking off those smaller debts.