Dave Ramsey is Bad at Math or is He?

If you have ever done any Internet searches for Dave Ramsey, you know that an article appears called "Dave Ramsey is Bad at Math" from fivecentnickle.com. When I first read this article I did what most Dave Ramsey fans would do... I quoted Dave in my head...

It’s not about the math! If people were good at math, they wouldn’t be in debt in the first place.

To date, this article appears in searches for Dave Ramsey. The author has even done a follow up article where he explains how Dave Ramsey uses psychology. Both articles are good reads.

The author is correct, mathematically the debt snowball isn't the best way to pay off debt. But, in reality, most people won't stick with the plan unless they are motivated to do so.

Not familiar with Dave? Read my past posts. Try this online debt snowball calculator.