Monday, April 11, 2011
Dave Ramsey's Baby Steps
Baby Step 1: Get an emergency fund of $1,000
Baby Step 2: Debt Snowball/Pay off all debt
Baby Step 3: 3-6 month of living expenses saved
Baby Step 4: Invest 15% of income into savings Roth IRA and other pre-tax retirement accounts
Baby Step 5: College fund for your kids
Baby Step 6: Pay off your house early
Baby Step 7: Build wealth and give
If you want more info on any of these steps you can find it here.
I am really excited about step 7. One of my spiritual gifts is giving, but right now with the amount of debt we have it is very difficult to give. I think that is what I am most looking forward to when we get out of debt!