Why Dave Ramsey's 7 Baby Steps Work

In this video I explain why Dave Ramsey's 7 baby steps work.

The 7 baby steps are one of the clearest paths to create personal financial freedom for you and your family. If you follow Dave Ramsey’s 7 baby steps throughout the course of your life, you are almost guaranteed to be financially prosperous.

I have personally followed Dave Ramsey and his 7 baby steps for many years, and it has worked well for me so far.

In the first part of the video I will briefly explain all of the 7 baby steps, and at the end explain why they work!

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ABOUT ME 👇

My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, and entrepreneur.

This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience.

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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

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[WhiteBoardFinance]

*Do you follow the 7 baby steps? Why or why not?*

[ozarked]

There is also a lot of anecdotal evidence that it works. I'm 58. Mortgage is paid in full. No loans or debt. Both kids have Masters Degrees without student loans. Wife and I have about 600K in retirement savings. We are just beginning the giving part. I can't explain how much fun it is to leave a $22 tip in cash on an $8 lunch bill, or write a $300 check to the church for new shoes for elementary school kids. Full disclosure though, we aren't nearly as intentional with budgeting as we were while we were working our way up to step 7.

[jamipierce]

I listen to Dave every day on Youtube. I am a single mom and working his program has gotten me out of debt and I'm working on steps 4, 5, and 6 now.

[sneakershowcase]

I’m 14 and I’m watching financial advice videos 🙃

[fatiic]

I dont even live in the US, but i am following the DAVE RAMSEY baby steps! it makes a lot of sense no matter where in the world you live!!!

[Scallopway]

I saved almost 20k for 3 years and lost 18k due to health issues in 6 months. Now I'm back on the game ready for step 4, more frugal. Thanks step 3!

[KP-hiom]

I followed Dave's advice. I got a second job and went from $70k in debt to $30k in the bank and maxing out investments. I only wish I had known about this in my 20s.

[derek]

That $1000 cushion comes in handy when you screw up the math in the first month and overpay something too. I won't be confirming where that nugget of wisdom came from in this forum though.

[ucyberwolf]

You know Dave suggests you skip step 5 if you don’t have children. Funding someone else’s college would be a step 7 action.

[jenniferkern]

I really liked your take about paying for college for somebody, even if you don’t have children. I like the kindness in your approach.

[ChristopherAbelman]

I am currently burning through my late 40s and This is no time to taper retirement savings. I want to max out my retirement funding and I also have another $200k in a savings account that i want to invest in a non-retirement account.Would it be better going to housing? Maybe own property and let it till im ready to move in at 65.

[elizabethpalu]

Love that you fully endorse baby step 7 - I think many people don't understand how amazing it is to be able to be at a place that you are not just stressed about yourself and your family but you can give back (significantly) to society. Love it!

[etiancontreras]

The step that Mr. Ramsey talks about all the time, and probably the most important, is the one that comes before Step 1.
The first thing that he has you do is to sit down with your spouse and get organized. Getting on a strict budget first is absolutely essential to do the Baby Steps.
Ramsey's book was excellent. I recommend it to everyone.


Thank you very much for your videos.

[BonnieHalfElven]

I would fund relatives' kids college only in baby step 7. I will pay off my own house before worrying about that. I am 100% on board with DR, including paying cash only for everything. No "good" debt. I'm buying a car this week with cash. So glad not to have a car payment ever again!

[zacharychoate]

Dave’s the man. His podcast is inspiring and keeps my wife and me focused. The debt snowball is absolutely the way to go.

[joseguilarte]

Dave Ramsey principals without the yelling. I love it.

[tommymodec]

I am a financial advisor and so I am always skeptical going into videos like these on YouTube, but I was very impressed by your overview of Ramsey’s approach and your own input. Only thing missing to me is having life and disability insurance in place for both spouses. Great job!

[donaldshoemaker]

I wish i started these steps 20 years ago.

[zvezdapadalica]

Thanks so much for your videos, I made poor financial decisions in my early 20’s and now at 27 I am working towards financial freedom. Veliki pozdrav Marko! 😊

[veramonique]

This is a Great video, Everyone needs more than there basic salary to be financially secured. The best thing to do with your money is to invest. Money left in savings always end up used with no returns ..