Dave Ramsey could impact your life today!

I had a great time meeting Dave Ramsey this past Monday, and for the rest of the week I am sharing some thoughts about my visit there.

When Jenn and I made the decision to become debt-free in December 2002, we sought out a proven plan.  I knew that my brother in Texas had taken this finance class at his church and was just raving about it (You can read our story HERE – it was my first ever blog post).  The class was Financial Peace University.

One of the greatest things that Jenn and I learned from Dave is the 7 Baby Steps.  If you applied these seven simple steps to your life today, your life would be impacted in a great way!

Dave Ramsey's 7 Baby Steps:

1.  $1,000 in the bank to start a beginner emergency fund  (Make it $2,500 if you own a house!)  This fund helps protect you from turning to debt when the unexpected expense arises.

2.   Pay off all debt (except the house) utilizing the Debt Snowball.  You can calculate your Debt Freedom Date TODAY by clicking HERE.

3.  Save 3 to 6 months of EXPENSES for a fully-funded emergency fund  This ENSURES you stay away from debt!

4.  Invest 15% of gross income into tax-advantaged investments  10% to retire WELL; 15% to retire WELL-THY (wealthy) Smile  You might say, "I can't afford to do that!"  Sangl says, "You can't afford NOT to do that!"

5.  Fund the college savings accounts for the children  529 plans and ESA's are excellent ways to do this!  Are you funding your child's college fund?  If your child is 7 years old, you have 11 years before they go to college.  It is a KNOWN event!!!

6.  Pay off the house EARLY!!!  I love debt-freedom!

7.  Build wealth and give it all away.  You can't take it with you!

Dave has a great printable page of his 7 Baby Steps HERE.  Here's an idea – Print them out and put the date that you plan to accomplish each step by.  I did this, and I was VERY AGGRESSIVE.  Guess what?  I STILL beat the dates!!!  There is a lot to be said about FOCUSED INTENSITY!

Looking for additional Personal Finance Resources?  You can obtain free tools by clicking HERE and purchase books/materials by clicking HERE. 

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