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Steps to financial freedom

by Dave Ramsey

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