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Dave Ramsey's Baby Steps

Dave Ramsey outlines a 7 step plan called the "Baby Steps" to get out of debt and build wealth over time. The steps include saving $1,000 for emergencies, paying off all debts from smallest to largest balances using the debt snowball method, saving 3 to 6 months of living expenses, investing 15% of income into retirement accounts, saving for children's college, paying off a home early, and finally building wealth and giving to others. The plan is meant to help eliminate debt and build a solid financial future incrementally through these sequential steps.

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Ashleigh Lee
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946 views1 page

Dave Ramsey's Baby Steps

Dave Ramsey outlines a 7 step plan called the "Baby Steps" to get out of debt and build wealth over time. The steps include saving $1,000 for emergencies, paying off all debts from smallest to largest balances using the debt snowball method, saving 3 to 6 months of living expenses, investing 15% of income into retirement accounts, saving for children's college, paying off a home early, and finally building wealth and giving to others. The plan is meant to help eliminate debt and build a solid financial future incrementally through these sequential steps.

Uploaded by

Ashleigh Lee
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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D AV E R A M S E Y ’ S

SEVEN BABY STEPS


Getting out of debt will not happen overnight; it takes time.
Here are the Baby Steps that will get you started:

step 1 : $1,000 In An Emergency Fund


step 2 : Pay Off All Debt With The Debt Snowball
step 3 : 3 To 6 Months Expenses In Savings

step 4 : Invest 15% Of Income Into Roth IRAs


And Pre-Tax Retirement Plans
step 5 : College Funding
step 6 : Pay Off Your Home Early
step 7 : Build Wealth And Give!

888.22.PEACE • daveramsey.com

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