I have
heard about this book before, but I haven't had the chance to read it yet. On
Jen Smith's books, the ones that I just posted about, she references Dave
Ramsey's multiple times, so I decided to order the book at UCLA Library. The
book sat there for some time because it is large book full of technical jargon,
but I gave it a try. And I don't regret it at all. It's almost a Finance
textbook, explaining literally everything a regular citizen should know about
personal finances, from credit cards to 401k's and more. It is a really good
book to have to check from time to time when you need some financial advice. I
read the whole thing, but a good part of the book does not apply for me yet,
for example mortgages or life insurance, but very soon it will be useful for
me, that is why it is good to have this book around to consult when you need to
clear out some doubts you may have about finances. It is very interesting. He
also has other books and even a course called Financial Freedom seminar. I
haven't tried those yet, but eventually I will. Let me share here the 7 Baby
Steps for Financial Freedom that Ramsey’s explains on the book and helped me
with my finances and may help you too:
BABY STEP 1 – Save $1,000 to start an emergency fund
BABY STEP 2 – Pay off all debt
using the debt snowball method
BABY STEP 3 – Save 3 to 6 months of
expenses for emergencies
BABY STEP 4 – Invest 15% of your
household income into Roth IRAs and pre-tax retirement funds
BABY STEP 5 – Save for your
children’s college fund
BABY STEP 6 – Pay off your home early
BABY STEP 7 – Build wealth and give
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