Dave Ramsey’s Baby Steps | An Honest Look at All 7
The Financial Independence Show - A podcast by Cody Berman and Justin Taylor - Wednesdays
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In this episode, The FI Show Guys take an honest look at Dave Ramsey's 7 Baby Steps. While we believe Dave Ramsey has been a great gateway for a lot of people, there's a ton we just can't agree with. "Save 15%, never use credit cards, pay off all debt before investing"....these are just too prescriptive and not very optimal mathematically. We know there's a lot of Ramsey believers out there, and we welcome your feedback to this episode. If you're unfamiliar with the Baby Steps, here's a quick overview: * Baby Step 1: Save $1,000 for your starter emergency fund * Baby Step 2: Pay off all debt (except the house) using the debt snowball * Baby Step 3: Save 3-6 months of expenses in a fully-funded emergency fund * Baby Step 4: Invest 15% of your household income in retirement * Baby Step 5: Save for your children’s college fund * Baby Step 6: Pay off your home early * Baby Step 7: Build wealth and give Know someone that blindly follows Dave's advice? Share this episode with them and show them there are more options out there! Join the Community We’d love to hear your comments and questions about this week’s episode. Here are some of the best ways to stay in touch and get involved in The FI Show community! * Grab our FREE Budget Planner * Join our Facebook Group * Leave us a voicemail * Send an email to contact [at] TheFIshow [dot] com If you like what you hear, please subscribe and leave a rating/review! >> You can do that by clicking here << Learn More About Your Hosts Fly to FI (Cody’s Blog) Saving-Sherpa (Justin’s blog)