Dave Ramsey's Baby Steps to a debt-free life

How many of us have $1000 readily available for a quick emergency? If you don't when are you going to start. There is no better day than today to start.

1. $1,000 to start an Emergency Fund
2. Pay off all debt using the Debt Snowball
3. 3 to 6 months of expenses in savings
4. Invest 15% of household income into Roth IRAs and pre-tax retirement
5. College funding for children
6. Pay off home early
7. Build wealth and give!
Invest in mutual funds and real estate

If you don't have $1000, start with $1, $5, $10, etc. and before you know it, voilà! Like Dave says, getting out of debt does not happen overnight, it takes one step at a time. Ever thought about starting a debt support group for you and people you know to meet weekly or biweekly to form strategies on how to become debt free (or use Dave's principles) and act as a support group, with the goal of all members is to become debt-free, and cutting spending on non-essentials. I have seriously considered forming one of these self-help support groups.

Baby Steps