Friday Finance series

So let’s talk money! I’ve been reading about the Dave Ramsey principles for years but only put them into practice last August. We are nowhere near where we could be but we are certainly way ahead of where we were! Because I believe in this process so much and because finances were such a struggle for us until our 40’s I thought it might be a good topic to write about in a series format.

In today’s post I’m just going to list out the principles according to Dave Ramsey’s plan for those who don’t know about them. I’ll also include links to his site so that you can go read more about them and if you are so inclined purchase any of the products he sells. In future posts I will break out the steps again explain his principle but then going more into depth for how I have chosen to handle that particular step. Now mind you I am no finance guru so please don’t critique me too bad. I just know what has worked for us and what has helped us and I love to share it.

I wish that I’d had this knowledge when I started out although if I hadn’t learned the hard way then maybe it wouldn’t mean so much now. I also wish I’d had it a few years sooner so I could have imparted it on my children much sooner. Oh well can’t change the past can only make changes going forward to make the future better. So as I said I’ve listed below Dave’s process and his website. Stay tuned for weekly updates in our new Friday Finance series!!

~Carla~

www.daveramsey.com

Baby Steps:

1: Save $1,000 for your starter emergency fund

2: Pay off all debt (except the house) using the debt snowball method

3: Save 3-6 months of expenses in a full funded emergency fund

4: Invest 15% of your household income in retirement

5: Save for your children’s college fund

6: Pay off your home early

7: Build wealth and give