Baby Steps

The Ultimate Guide to the Dave Ramsey Baby Steps You Need to Know

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Introduction To Dave Ramsey Baby Steps

Here is the ultimate guide to truly understanding the Dave Ramsey baby steps he talks about in his best-selling book, The Total Money Makeover. Learn how to build an emergency fund, get out of debt, invest, and start to gain financial independence. I’m always asked about how to start or where to start if you are struggling with your finances. If you have a mountain of credit card or student loan debt or a slew of other financial problems, it can be very intimidating where to start. That is why I always recommend that people start with Dave Ramsey. I’m a huge Dave Ramsey fan and his book, The Total Money Makeover. It is one of my top ten personal … Read more

Dave Ramsey’s Baby Step 7 – Build Wealth and Give

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Get a free book such as the Total Money Makeover

I’ve written extensively about Dave Ramsey’s baby steps here on Money Q&A. You can see my overview of Dave Ramsey’s baby steps system in his book, The Total Money Makeover. There are seven baby steps that you should follow in order that will lead you to financial peace that he discusses in his book which is one of the Top Ten Personal Finance Books of all time that you should be reading. In this blog post, we discuss baby step 7. Dave Ramsey’s baby steps are… Baby Step 1 – $1,000 Emergency FundBaby Step 2 – Pay Off All Of Your Debt With A Debt SnowballBaby Step 3 – Fully Fund Your Emergency FundBaby Step 4 – Save 15% Of Your Income For RetirementBaby Step 5 – Save … Read more

Dave Ramsey’s Baby Step 2 – Pay Off Your Debt With A Debt Snowball

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What is a debt snowball?

The second baby step in Dave Ramsey’s The Total Money Makeover is to pay off all of your debts except your mortgage. He recommends doing this by using a debt snowball. It is his baby step 2. When Dave Ramsey talks about paying off all of your debts except your home, he means precisely that, all of your debts. This is where you list all of your debts in order from the smallest balance to the largest balance. You should include all of your credit card debt, student loans, car loans, loans to parents, debt to the IRS, money borrowed from your parents or family, late payments that you still owe hospitals, and all of your other debts. If you haven’t read The … Read more