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Dave Ramsey’s 7 Baby Steps to Financial Freedom

Dave Ramsey's 7 Baby Steps

Use Dave Ramsey’s 7 baby steps to achieve financial freedom and build wealth!

One of the biggest tips I have for people wanting to increase their financial awareness is to get mentorship. With books, the internet, and the ability to connect with anyone at anytime, there is no excuse not to find a good mentor.

For a few years, Dave Ramsey has been a financial mentor for me. He is an American businessman, financial advisor and host of the Dave Ramsey Show. He has helped millions of people from all-around the world overcome debt and obtain financial freedom with his radio show, videos on YouTube and speaking events. He has strong values, went bankrupt himself, and practices what he preaches, so he is a great mentor to learn from.

One of his main tenets is his “7 Baby Steps” which gives people a process to take control of their money on their path to financial freedom… a place where we all want to be. The part I like most about it is that it gives people a no-nonsense procedure to move away from their money controlling them to them controlling their money.

The 7 Baby Steps are laid out below:

Step 1 – Save $1000 to start your emergency fund.

Step 2 – Pay off any debt you have using the debt snowball. Start with the smallest debt, and work your way to the largest debt, building momentum as you go.

Step 3 – Save 3-6 months of your expenses in your emergency fund to use in an emergency.

Step 4 – Invest 15% of your income to access when you retire.

Step 5 – Save a percentage for your kid’s college fund.

Step 6 – Pay off your home before the end of the mortgage.

Step 7 – Build wealth and give.

These steps are the beginning to reaching financial freedom and the journey will be tough, but well worth it. If you have any questions, please reach out to me and let me know. I have worked through these steps and I am working on Step 7.

To learn more about Dave Ramsey’s 7 Baby Steps:

  • visit Dave’s website here.
  • watch the full video on our YouTube channel here.



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Teacher and creator of Greatness Every Day. Matt lives in Sackville, NB, Canada and loves spending his time outdoors, racing triathlon, and learning.


  1. Hi Matt and thanks for your sincere desire to assist others to unblock believes, give tips to act with assertivenes and make life a better journey.
    I have worked for many years as a traveling salesperson in The Caribbean market, but now with the pandemic my skills need to be re learned to create income each month to be able to mantain my family.
    The article talks about saving but when the monthly expenses are higher than the income, the result is more debts to pay every month.
    What is your advise to be able to level up so that in the future I can follow Dave´s advices ?

    I am 60, healthy and active, used to play Tennis now walk and do dumbells. I wake up and give thanks to God for giving me one more day. I pray early every day and read Salms for others well being too. Like to learn from online courses of tecnology, how to, accounting, digital marketing, articles to learn how other do business and see Youtube videos. I eat very healthy although need to eat more vegetables and more water. Recently getting more hours of sleep to recharge.

    Looking forward to read your advise on what to do to break the debt pattern and make enough to mantain my family.

    Blessings to you

    • Hi Jacobo, Thanks for your comment – I really appreciate it and hearing your story. I used to live in the Caribbean (St. Kitts and Nevis) and I miss it greatly, and I understand how our current situation is affecting your area.

      To answer, your question, I need to put myself in your shoes and one of the first things I would do is do a financial inventory and get serious about the needs I have. I would track all my expenses for 30-60 days and see where my money is going. It sounds like you know your monthly expenses are higher than the current income, but it still might reveal some areas to improve in (or cut out/put on hold). I would also look at adding an additional income(s) sources currently, and my favourite are through online businesses using the skills you already have as a salesperson.

      I love the fact that you keep your physical, emotional, and spiritual health a priority – this will help you greatly!

      I have more videos on YouTube that might help you here: https://bit.ly/3bH79Pz

      Please reach out to me through email and I can give you a few more ideas to consider in private – I’m happy to help!



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