Dave Ramsey's Baby Steps — the plan to win with money.


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Robert Dunfee


  1. gus morningstar
    July 16, 2021 at 1:58 pm

    Anyone else take the middle school personal finance course by him and notice these aren’t the same steps, I thought i already knew them.
    Mid School is 500 emergency fund
    Debt snowball
    Pay for car in cash
    Pay for college in cash
    Pay for house
    Build wealth and give
    Why are they different?

  2. Durtle AU
    July 16, 2021 at 1:58 pm

    When it states pay off all debts, does that include the mortgage ?

  3. Aaron Xavier Uzcategui
    July 16, 2021 at 1:58 pm

    Working on baby step 1, I'm halfway there, I'll skip baby step 2 since I've got no debt, since I don't own anything hahaha 😅

  4. Tamara Slay
    July 16, 2021 at 1:58 pm

    thank you!

  5. Irish Padova Claddagh
    July 16, 2021 at 1:58 pm

    Thankful I only do steps 1-3 and #7 😂

  6. Rosa Gutierrez
    July 16, 2021 at 1:58 pm

    Is an emergency fund (#1) and the savings (#3) the same? If not, how much should be in savings? How much money should we keep in our checking/savings account?

  7. eric colin
    July 16, 2021 at 1:58 pm

    I will be working on baby step number 2

  8. Investing Made Simple
    July 16, 2021 at 1:58 pm

    I think the reason the baby steps work is that it's simple. Simple plans will always beat complicated ones. Good to see that this has helped so many people get out of debt. For all those who have got out of debt….congratulations 🥳

  9. Mike Lane
    July 16, 2021 at 1:58 pm

    Giving is discretionary and under personal choice to stop the interest rate hounds from chasing more innocent victims!

  10. The Alfonso Nation
    July 16, 2021 at 1:58 pm

    Starting on step 1. But I’m likely skipping step 5 😂

  11. Russ Lea
    July 16, 2021 at 1:58 pm

    Before you take your first step, put on your work boots.

  12. I Should Know This
    July 16, 2021 at 1:58 pm

    Where is the best place to open a Roth IRA?

  13. Fabian R
    July 16, 2021 at 1:58 pm

    Western Europe is so awesome…most people have baby step 1 established by the time they’re 18, number 2 is a no-no as credit cards do not really exist (you get them when you’re 25 to pay Hotels or rental cars…most stores won’t even accept them), number 3 can be cut to 2-3 months as you a) have substantial help from the government if you get laid-off, b) getting laid-off is rare and if it happens by law requires 3-6months notice, 4. you do automatically through the national retirement agency and your contribution is matched by your employer + plenty of opportunities for employer 401ks, 5. does not apply because college is free – even the elite once, 6. can be done, but it’s also perfectly fine to rent in German culture (because you’re always safe … and can always pay rent) and 7. is also automatically done by high taxes that are spent towards universal health care, universal care insurance and social security – so whatever you have extra, you can actually use to really play with it.

  14. Jeremy Parke
    July 16, 2021 at 1:58 pm

    Number two is paying off all debts does that include the house because that’s on step six and I would consider that debt as well

  15. Carmela Camba
    July 16, 2021 at 1:58 pm

    being single, 1 3 6 and 7 will probably the only things that applies to me. I already started putting 15% of my income to a government mutual fund where i live because of tax free return.

  16. Brad
    July 16, 2021 at 1:58 pm

    I'm 24 and I'm halfway there on Step 3.

  17. ed just
    July 16, 2021 at 1:58 pm

    Where am I in those baby steps? I already saved 6 months emergency fund but have a 35K car loan.

  18. Steel Horse
    July 16, 2021 at 1:58 pm

    Hi there, don't know if I will get a response to my question from the channel but I am currently on step #6, however I am currently in a situation of a declining real estate market with no foreseeable change in sight.  That being said, I am debating whether I should still consider paying off my primary residence in a declining market or continue to build my emergency fund?  Not sure if a relevant price of information to my question but I am planning on selling the home and thus leaving the area in about three years to semi retire.

  19. thephilb
    July 16, 2021 at 1:58 pm

    For step 4 I'd feel much more comfortable investing in precious metals then investing in any "retirement plan". Precious metals have thousands of years of history of value but theses "retirement plans" have been around for less then a century, I just don't trust them. And step 5, am I saving for a 2-year degree in a community college or 10 years of ivy league schooling? There's a huge difference! Other then those 2 minor discrepancies I think this is a brilliant plan, one I plan on starting immediately.

  20. Michael M.A.
    July 16, 2021 at 1:58 pm

    can someone elaborate on the "debt snowball"??

  21. john spears
    July 16, 2021 at 1:58 pm

    baby step 2 only one more to go out of 3 glad i found this early in life thank you!

  22. F Gordon
    July 16, 2021 at 1:58 pm


  23. cm brn
    July 16, 2021 at 1:58 pm

    Number 7 makes no sense , why go thru all those steps just to give your money away at the end

  24. LP idiomas
    July 16, 2021 at 1:58 pm

    Hi Dave, can I teach a financial peace class at my local church in Brazil?

  25. maremacd
    July 16, 2021 at 1:58 pm

    After I (short) sell my condo, I never want to own my home again. In retirement, I want to rent a cheap landing pad and travel. Oh, and I don't have kids. So steps 5 and 6 do not apply. While I think his advice is mostly helpful, I feel like Ramsey thinks everyone has the same life goals. Instead of 5 and 6 I'm socking away a lot more for retirement.

  26. Uncle Cookie
    July 16, 2021 at 1:58 pm

    I currently owe $30k on my house and $20k on my car… I have $19k in the bank and my total household income is $80k…. my written budget shows that after bills if I can keep my spending limit to $1000 a month (including groceries) I should clear $1000 a month on average…. my house absolutely needs new windows this spring and that'll cost me $5000… but if I stick to my budget I should have enough to pay the car off next year and not let my bank account drop below $10k…. the house should also be paid off by 2020 and then I owe nothing…. I'm not comfortable blowing my entire bank account save for $1k in case some emergency popped up because then I'd be screwed.

    I don't have to worry about step 5 because my wife and I don't want kids and we're not able to have kids…

    I'm also upping my contribution to my 401k, but my company does not provide any match and my 401k tanked really bad in '07-'08 so I don't have a lot of faith there

  27. Tom Tucker
    July 16, 2021 at 1:58 pm


    Baby step 1) Easiest step! 

    Step 2) Second easiest step!

    Step 3) Even if you have an above average income, unless you're going to live in the Ghetto, it will take 3 to 6 years to get 3 to 6 months of living expenses saved up!  

    Step 4) 15% is actually an accurate number, however I will be doing 7.5% the way he says, and 7.5% the way I say.  I've already fired 3 different retirement brokers because I perform better than they do. 

    Step 5) Not a high priority.  If you've taught your children well, they will likely not need it.

    Step 6) Same as step 3!  Unless you're living in the Ghetto, you will not realistically pay your house off without being absolutely miserable doing so for the next 15 years.

  28. arkbluewolf11
    July 16, 2021 at 1:58 pm

    Im having trouble getting started. As I start saving to start the emergency fund something breaks down on me. First it was the dryer , got that fixed, now my vehicle is in need of repair, what I am told is called the death wobble, that sounds like that is going to cost me, along with that my pet needs to see the vet cause of allergies, poor dog is itching and scratching herself raw. On things like this I would use  a credit card to fix these things but all I have now is a debit card, one credit card that is near full that I was planning on paying on after I got the $1000 saved. Cant seem to get ahead.

  29. tosha f
    July 16, 2021 at 1:58 pm

    Baby step 2 is where you'll find me.  I've barely scratched the surface of paying off my student loan debt, but by doing the Dave Ramsey plan, I immediately started seeing progress.  This stuff works!.

  30. Bronco Surveillance
    July 16, 2021 at 1:58 pm

    Thirty seconds that could make you rich??? I game. some of theses are already done.

  31. exodense
    July 16, 2021 at 1:58 pm

    Gross income because it's tax deferred and therefore won't be a taxable income

  32. sonic2batt
    July 16, 2021 at 1:58 pm

    For baby step 4, Is the 15% of household income determined by net or gross income?