Credit Debt Cures
Who do you like better...Suze Orman or Dave Ramsey?
I have always listened to Suze Orman...I think she worries too much about that FICO score... I just recently heard of Dave Ramsey through some friends and coworkers. I have to disagree with him about paying off the smallest debt first...I think the debt with the highest interest should be paid first...
Public Comments
- Dave Ramsey, try the smallest debt first thing...it works dude...Suze Orman is not really in the real world sometimes...
- Highest INTEREST RATE debt first, regardless of size is what Suze preaches, and she is right... Suze is the more thorough of the 2...I like her advice better
- suze orman
- I prefer Dave Ramsey because he comes at everything with a Christian perspective. And he is so funny (just try his Financial Peace University series; you will crack up through the whole thing!).
- suze orman
- Suze is all about saving your FICO score. She has good advice but I don't bow down to the FICO god. I love Dave Ramsey. Doing the smallest debt first works. It sounds like you are "nerd" (read Ramsey he calls us "free spirits" or "nerds"). I am a nerd too. I did amortization tables out on all our debts and by doing it highest interest rate first only saved us 2 or 3 months, max! (link is below if you want to do it on your own debt) Seriously, it wasn't a big deal. He admits, mathematically you should do highest interest rate but finance isn't about math. He said you wouldn't get into thousands of dollars in debt if you did the math of compound interest prior. People get into debt because they are impulsive and want something "important" in the moment. Paying off the smallest is a physiological victory and keeps you going to the next debt. It gives you hope there is a light at the end of the tunnel. It is like an obese person loosing 10 lbs in the first week, keeps them going for the next week on their diet.
- I like Dave Ramsey because he offers a simple common sense approach to personal finance that works for everyone in every situation. While his baby steps seem oriented to getting out of debt and preparing for life's responsibilities I think they make an excellent platform for income growth beyond just becoming debt free. Dave seems to know that most people first need to dig out of the hole vs getting rich so he starts at that point in a simple straight forward approach. Suze Orman I think is good for folks who have good financial habits already but want additional tips. Dave is the guy who can help if you have not bee paying attention or are in financial trouble.
