Ep 29 - Discussing Dave Ramsey’s 7 Baby Steps

<p>In this episode, we talk about Dave Ramsey's 7 baby steps on how you can build wealth! we dive into each step and discuss the pros and cons of following this guide!</p> <p>Help support us by joining our Patreon! (<a href='https://www.patreon.com/BrokeMillennialFinance'>https://www.patreon.com/BrokeMillennialFinance</a>)</p> <p>Check out our website for more content: (<a href='https://brokemillennialfinance.net'>https://brokemillennialfinance.net</a>) </p> <p>Subscribe To Our YouTube Channel: (<a href='https://www.youtube.com/c/brokemillennialfinance'>https://www.youtube.com/c/brokemillennialfinance</a>)</p> <p>Here are the referral links for you to join to get your free stocks:</p> <p>Robinhood: (<a href='https://join.robinhood.com/naveras-a23246'>https://join.robinhood.com/naveras-a23246</a>)</p> <p>Webull: (<a href='https://act.webull.com/i/QNmo8WB8Yzc2/74x/'>https://act.webull.com/i/QNmo8WB8Yzc2/ufl/</a>)</p> <p>Coinbase: (<a href='http://coinbase.com/join/khan_st?src=ios-link'>http://coinbase.com/join/khan_st?src=ios-link)</a></p> <p> </p> <p>Show Notes:</p> <ul><li style="font-weight:400;">Who is Dave Ramsey and what is the 7 baby step? <ul><li style="font-weight:400;">He is a radio show host, author of several books, and a businessman. </li> <li style="font-weight:400;">The 7 baby steps is his method of teaching people how to leave poverty and build wealth</li> </ul> </li> <li style="font-weight:400;">The 7 baby steps <ul><li style="font-weight:400;">Save $1,000 for your starter emergency fund</li> <li style="font-weight:400;">Pay off all debt (except the house) using the debt snowball method <ul><li style="font-weight:400;">The debt snowball method is paying off debt from smallest to largest. </li> </ul> </li> <li style="font-weight:400;">Save 3-6 months of expenses in a fully funded emergency fund</li> <li style="font-weight:400;">Invest 15% of your household income in retirement</li> <li style="font-weight:400;">Save for your children's college fund</li> <li style="font-weight:400;"