The Seven Baby Steps

Begin your journey to financial peace

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Get out of debt the same way you learned to walk—one step at at time. Dave has taught these principles to millions via radio, books, Financial Peace University, and Living Water is hosting the 13 week class that will transform your life.  Here’s the process:

 

 

  

 Baby Step 4  

Baby Step 5 

 

  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!

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.

 

College funding for children

 

Invest 15% of household income into Roth IRAs and pre-tax retirement

 

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.

 

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.