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Research from Northwestern University supports Ramsey's claims, showing that people who follow the debt snowball method are more likely to complete their plans compared to those who follow a mathematically superior debt avalanche strategy. The findings suggest that behavioral prompts like motivation and progress outweigh simple cost considerations.

Retaining Control Over Your Financial Future

Ramsey's methodology revolves around the idea that the biggest asset in building wealth is one's income. He argues that if your income is directed toward servicing debts—especially high-interest ones—then true financial freedom remains out of reach. He encourages individuals to take charge of their finances, reclaiming control rather than allowing creditors to govern their lives.