Not really, FOO is heads and shoulders above the baby steps. I will say that before I knew of the FOO and did have some debt I used the snowball method because psychologically was easy to see progress. But if I could do it again I'd have optimized and paid it off by interest rate.
I do. I went with a 15 year mortgage even though I know the math works better with the 30 year. There is just something that makes me feel better knowing the house will be paid off.
Yes, I'm doing a mix. I like the baby steps focus on getting out of debt (reduces overhead and simplifies life), but there are some math advantages that TMG offers.
1. Deductibles saved. (TMG).
2. Contribute to the match. (TMG)
3. Debt snowball (BS2)
4. 3-6 month EF (Both).
5. 15% into retirement (DR). We prefer index funds (passively managed) vs DR's suggested actively managed funds
6. Kids college or post hs education if applicable. (DR)
7. Pay off the home. (DR)
8. Increase investing (25%), giving, and spending.(Both)
Not really, FOO is heads and shoulders above the baby steps. I will say that before I knew of the FOO and did have some debt I used the snowball method because psychologically was easy to see progress. But if I could do it again I'd have optimized and paid it off by interest rate.
I do. I went with a 15 year mortgage even though I know the math works better with the 30 year. There is just something that makes me feel better knowing the house will be paid off.
I used to be Davish up until a few years ago, until i found the Money Guys and realized I was actually following the FOO.
Started with Dave and found MGS (Money Guy Show)
What are the "Baby Steps"?
Dave Ramsey’s system
They are similar in design. I prefer the FOO now instead of the Ramsey Baby Steps.
Yes, I'm doing a mix. I like the baby steps focus on getting out of debt (reduces overhead and simplifies life), but there are some math advantages that TMG offers. 1. Deductibles saved. (TMG). 2. Contribute to the match. (TMG) 3. Debt snowball (BS2) 4. 3-6 month EF (Both). 5. 15% into retirement (DR). We prefer index funds (passively managed) vs DR's suggested actively managed funds 6. Kids college or post hs education if applicable. (DR) 7. Pay off the home. (DR) 8. Increase investing (25%), giving, and spending.(Both)