I follow Dave Ramsey. trying to research what percent of income should go toward debt ($35,004 student loans with 0.00% interest until September 2020 due to COVID-19).

Question

I follow Dave Ramsey.  trying to research what percent of income should go toward debt ($35, 004 student loans with 0.I follow Dave Ramsey. trying to research what percent of income should go toward debt ($35, 004 student loans with 0. 00% interest until September 2020 due to COVID-19). but I can’t find it. can anyone help? Not sure if I should use the snowball or avalanche method?  

Answer 1

The TBM method doesn’t follow percentages. It would be best to ask this on his pages.  

Answer 2

My understanding is that every extra penny you have (after saving the $1000 emergency fund and paying your bills/expenses) gets dumped on debt. I don’t think it’s a percentage, persay. I could be wrong, though!  

Answer 3

Every extra penny goes towards debt, and he’s straight snowball, no avalanching.  

Answer 4

If you follow Dave Ramsey, you use the snowball method because it keeps your momentum going. You pay as much as possible on debt. There isn’t a percentage. You take care of essential bills and food and gas and the rest is on debt

Answer 5

Okay. Thanks. @madigan871

Answer 6

Ohhh, great! Thanks so much jeri m @lordan4702

Answer 7

Thank you so much! @setscrew9235

Answer 8

But I’m like the other comments, I thought after everything was paid, any left over went to debt

Answer 9

BS2 every spare penny you can find goes to paying off debt, it doesn’t matter what that percentage of income is. The bigger the better.  

Answer 10

We use undebt. it to track out debt and compare methods.  

Answer 11

I follow Dave but use Miko's system for tracking. When you get to the debt section of my BBP book it is all the money left after Bill's and envelopes. We have paused sinking funds for now as I have our taxes put aside for July already. We have an EF so no additional savings right now.  

Answer 12

Also. We snowball not avalanche. It's a choice and what works for us. We are at $33k left of a $99k debt.