Baby Steps

Most all financial gurus agree there are certain steps you must take to become financially free. Dave lays them out as the following:

1.  Start an emergency fund, $1,000 in savings.

2. Pay off all debt, except the house, using the debt snowball

3. Finish the emergency fund with 3-6 months of expenses

4. Fully fund your retirement with 15% savings

5. College Funding for children if you have them

6. Pay off home early

7. Build wealth by investing.

1 comment:

  1. I am on baby step 2, I completed my baby emergency fund with $1,000 in November 2012. I have this with Barclay's Bank (online) earning 1%, not much but more than any of the local banks savings account.