DAY 18 of 30
Today's post is a guest post. I have chosen to share an interesting article from an infographic / article I read online by Dave Ramsey. Dave has developed the Baby Steps over years of counseling one-on-one, in small group discussions, with real-world live in Financial circles.MOre of the steps can be read at Dave's web page www.daveramsey.com
Enjoy the concise article
Baby Step 1
$1,000 to start an Emergency Fund
An emergency fund is for those unexpected events in life that you can’t plan for: the loss of a job, an unexpected pregnancy, a faulty car transmission, and the list goes on and on. It’s not a matter of if these events will happen; it’s simply a matter of when they will happen. Learn more
Baby Step 2
Pay off all debt using the Debt Snowball
List your debts, excluding the house, in order. The smallest balance should be your number one priority. Don’t worry about interest rates unless two debts have similar payoffs. If that’s the case, then list the higher interest rate debt first. Learn more
Baby Step 3
3 to 6 months of expenses in savings
Once you complete the first two baby steps, you will have built serious momentum. But don’t start throwing all your “extra” money into investments quite yet. It’s time to build your full emergency fund. Learn more
Baby Step 4
Invest 15% of household income into Roth IRAs and pre-tax retirement
When you reach this step, you’ll have no payments—except the house—and a fully funded emergency fund. Now it’s time to get serious about building wealth. Learn more
Baby Step 5
College funding for children
By this point, you should have already started Baby Step 4—investing 15% of your income—before saving for college. Whether you are saving for you or your child to go to college, you need to start now. Learn more
Baby Step 6
Pay off home early
Now it’s time to begin chunking all of your extra money toward the mortgage. You are getting closer to realizing the dream of a life with no house payments. Learn more
Baby Step 7
Build wealth and give!
It’s time to build wealth and give like never before. Leave an inheritance for future generations, and bless others now with your excess. It's really the only way to live! Learn more
ABOUT DAVE
David L. "Dave" Ramsey III (born September 3, 1960) is an American financial author, radio host, television personality, and motivational speaker. His show and writings strongly focus on encouraging people to get out of debt.
Ramsey's syndicated radio program, The Dave Ramsey Show, is heard on more than 500 radio stations throughout the United States and Canada, in podcast format, on IHeartRadio, a dedicated iOS application, as well as live audio and video on DaveRamsey.com.[1][2] He has written numerous books including five New York Times bestsellers. His books and broadcasts often feature a Christian perspective that reflects Ramsey's religious beliefs. Ramsey was named the 2009 Marconi Award winner for Network/Syndicated Personality of the Year.[3]
cheers!
(c)August 2014, Emmanuel Ayeni
Join myself and our team at Avenues to Wealth as we work closely with 20 people who are ready to increase their financial intelligence, make extra monthly income of about $1000 or more, secure your space at the link. http://bit.ly/VqbOgh
EMMANDUS Networks, Nigeria
www.emmanuelayeni.com
Twitter: @emmandus
Youtube: www.youtube.com/user/emmandus
ADVERTS
- Up for grabs Over 500 books on Wealth Creation, Internet Marketing and Network Marketing. Call 07033875827 to lock down your slot.
- To make bookings for Emmanuel Ayeni to speak at your Seminar, Conference or event kindly call 07033875827
OWN YOUR LIFE AND CREATE YOUR DREAM LIFESYLE
Are you interested in making extra passive and active income?
Do you want to learn how to live your dreams and generate multiple streams of income by investing little of your time ..Proceed! to the link www.creatingwealth.co/lcp1/emmandus
Emmanuel Oluwadunsin Ayeni's Expert Author Email Alerts
Sign up to receive email alerts of Emmanuel Oluwadunsin Ayeni's latest articles from EzineArticles.com!
Email Address:
EzineArticles.com
Link Building/
