Things You'll Need:
- discipline
- more discipline
-
Step 1
Baby Step #1
Pay minimum on everything until you get $1000 in savings. -
Step 2
Baby Step #2
Attack your debt with a vingenace! List all debt, smallest to the largest, attack the smallest first. When you get it paid off add that payment to the next payment, and so on, until you get it all done!! Most people can be debt free (except the house) in 18-24 months!!!!! -
Step 3
Baby Step #3
Save 3-6 months living expenses. -
Step 4
Baby Step #4
Save 15% of your gross household income in retirement plans. -
Step 5
Baby Step #5
Start College funds for your kids. -
Step 6
Baby Step #6
Pay all extra you can find and pay off house early. -
Step 7
Baby Step #7
Save, invest, and give. -
Step 8
These are simple ideas, that are not so simply implemented. This will be hard. His motto is "Live like no one else, so later you can live like no one else". Don't eat out, get extra jobs, sell stuff, do what ever you have to do to get out of debt.
-
Step 9
I highly recommend any of his books, his radio show, his tv show, his website www.daveramsey.com, www.mytotalmoneymakeover.com, and attend Financial Peace University!! Go to his main website, you can find an FPU near you! Most are given in local churches!
Comments
Susanh said
on 5/22/2009 I have a friend who is taking one of his seminars right now and says they've already put $500 in savings in just over a month!
kim82600 said
on 10/9/2008 I read his tips frequently in the newspaper, he's great and so is this article!
HeleneCanuck said
on 9/14/2008 Thanks for this article - I had not heard of Dave Ramsey before. As you say, these are simple steps that are hard to do. You rate a solid 5 stars for this article. ...Helene...
cyclegirl98 said
on 8/28/2008 I love Dave too! I made my husband speak with him on the radio last week. Great advice. Thanks.