Basic Overview of Dave Ramsey’s 7 Baby Steps

Dave Ramsey is a well-liked radio host and author across the US. He teaches his audience to take back control of their assets by adjusting their practices, and his Financial Peace University program is quite popular.

This is the most significant thing you can do for yourself financially. You never know when you will have to deal with a situation that requires a large amount of money.

Save $1,000 to Start Your Emergency Fund.

The basics of this step are to order your debts from smallest to largest and pay them off in that order. This will give you small victories that will motivate you.

Pay Off All Debt

Once you have your contingency fund set and said goodbye to debt, the next step is to gather enough to take care of at least three months’ worth of your bills and needs.

3 to 6 Months Emergency Fund

Once you have your fully funded emergency fund from step 3 (abbreviated in the Dave Ramsey community as FFEF), you are ready to start saving for retirement.

Invest in Your Retirement