Happy Thanksgiving. Wanted to talk about being a turkey today. But first, here's a recap of the Baby Steps used in Dave Ramsey's Financial Peace University. Baby Step 1 : $1,000 cash in a beginner emergency fund Baby Step 2 : Use the debt snowball to pay off all your debt but the house Baby Step 3 : A fully funded emergency fund of 3 to 6 months of expenses Baby Step 4 : Invest 15% of your household income into retirement Baby Step 5 : Start saving for college Baby Step 6 : Pay off your home early Baby Step 7 : Build wealth and give generously So we're on step 3. How's it going? It's not. What we're doing now is akin to what happened a lot between baby steps 1 and 2: Save up your $1,000 emergency fund Have an emergency Repeat Except we haven't had emergencies. We maintain the $1,000 EF month to month and manage other storms. We've had to repair some vehicles, sure. We also have more income now than we did. We were forking over hund
The stories of a man working hard to achieve financial peace.