From Yahoo Finance: 2025-05-24 12:04:00

George Kamel, from Ramsey Solutions, promotes financial education by advocating against debt consolidation loans and credit scores. He recommends the debt snowball method for paying off debt instead. Debt consolidation loans may come with hidden fees and don’t guarantee lower interest rates, potentially leading to more debt. Ramit Sethi also warns that consolidating debt doesn’t reduce the amount owed, just changes its form. Kamel suggests focusing on paying off debts using the snowball method to stay motivated and make progress.



Read more at Yahoo Finance: 2 Reasons Why George Kamel Says Common Debt Payoff Strategy Is a Trap