My wife and I are going through the 7 Baby steps that Dave Ramsey teaches with Financial Peace University which are:
- $1,000 to start an Emergency Fund
- Pay off all debt using the Debt Snowball
- Three to six months of expenses in savings
- Invest 15 percent of household income into Roth IRAs and pre-tax retirement
- College funding for children
- Pay off home early
- Build wealth and give! Invest in mutual funds and real estate
We are proud to say that we are on step #3. It’s a hard step for us because that adds up to $9K. But with only less than $1K away, we should do it by the end of the month or mid-April. I’ve yet to call in and scream I’m Debt FREEEEEE!
