I used to think Dave Ramsey was too extreme until I ran the numbers myself

I was paying $280 a month in minimums on a card with 22% APR and figured a $50 extra payment wouldn't matter, but after I threw an extra $400 from a side gig at it last month, the interest drop shocked me. Has anyone else had a 'light bulb' moment on interest math that made you change your whole approach?

2 comments

2 Comments

miabennett5d ago

Holding on, you threw $400 extra one time and that changed everything? I did the same thing with a store card that had 24% and barely noticed a difference. Maybe your card had some weird calculation method. Feels like you need to keep throwing big chunks at it for months before the math really matters.

miles_perez4d ago

Idk, I think a one-time extra payment can actually knock off some interest if you do it early enough.