“As immediately, you get the KGB out of your life… you have about $10,000 IRS debt… pay that off this month”
DR
Dave Ramsey
The Ramsey Show ·
Wendy Wright · Take Back Retirement · 146: Financial Therapy: The Intersection of Money and Emotions with Wendy Wright (rerun)
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advise clients to avoid rushing to pay off debt, focusing on staying out of debt first
“As immediately, you get the KGB out of your life… you have about $10,000 IRS debt… pay that off this month”
“Number two would be paying principal and interest repayments on your tax-deductible debt when you also have owner-occupied debt… preserve that, don’t pay it off”
“We used the debt snowball. And budgeting was a big part of that puzzle to stay on track.”
“Take the 150 billion off the 2 trillion in government debt… reduce debt by about 12% and save 8 billion a year”
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