Submitted by eyerishdancegirl7 t3_zishbg in personalfinance
In 2023, is Dave Ramsey still relevant? I find some of his advice outdated. It does not make mathematical sense in my mind to ignore interest rates when paying off your debts.
Is Dave Ramsey for more “emotional” people who need to physically see the debt going down faster? In my mind the logical thing to do is pay off the debt with the highest interest rate first. Think about it… if you have a private student loan that’s 100,000+ with a 9% interest rate, you end up paying so much more in interest if you don’t pay it off fast.
I also don’t think it’s smart to pay for cars with cash. Or wait until you’re 100% debt free to have investment accounts….