Dave Ramsey: Getting ready for the Baby Steps
I like your plan, and I’m ready to get control of my finances. Should I catch up on past due bills before saving $1,000 for the beginner emergency fund you recommend in Baby Step 1?
Make sure your necessities are taken care of first. I’m talking about food, clothing, shelter, transportation and utilities. Then, get current on anything you owe or make payment arrangements for your past due bills. Once you have these things taken care of, it’s time to take your first Baby Step.
But Baby Step 7 is the real deal. When you’re able to build wealth and give with extreme generosity, you’ve reached the pinnacle of smart money management. Good luck, Samantha.