Today we are going to talk about the Dave Ramsey baby steps and all the pros and all the cons and if you have followed me for a hot second you know I have an opinion and you know it’s gonna be honest because that’s what I’m about let’s discuss D Ramsey’s plan to baby step our way to financial freedom.
A comprehensive analysis of the Dave Ramsey baby steps like you have never seen because it’ll be.
Someone who’s doing it hi I’m Wendy Valencia my husband Mauricio my daughter Melina and I have been on the Dave Ramsey baby steps for about two and a half years in.
That time we have paid off a hundred and eighty thousand dollars well a hundred and eighty thousand one hundred and twenty dollars and 19 cents to be exact but.
We have a long way to go like a hundred and twenty-five thousand dollars more of our debt and thirty five thousand dollars more on loans that we co-signed on so yeah a lot.
So for us this is going to be a long process but we are committed to seeing it through the end so today we are gonna go over the pros and the cons of the Dave Ramsey baby steps but I’ll tell ya I actually have quite a few cons and I don’t necessarily believe that this program the way it’s laid out is the best for everyone but I am committed to giving.
You an honest opinion so you can decide for yourself so keep in mind this is coming from.
Someone who is currently living through the hell that is baby.
Step two so take everything I say with a grain of salt because I’m a little irritated at this program right now I love it so hopefully this video will help you decide if the program is right for you if the program mostly is right for you and you need to alter a few steps or if this program is absolutely not for you and you really I need to find something else or we get into it these are the seven baby steps.
For Dave Ramsey I’m not gonna go over each one if you are on this video you probably already know.
Though so I’m not gonna waste your time reading them but if you don’t know what they are go ahead and push pause and read through those seven so let’s jump right into the pros Pro number one if you can follow the plan you will be debt-free in a relatively quick period of time not everybody can get out of debt in under.
Two years like most people but most people can on this plan we are not one of those people because we had a lot of debt but if we paid off our minimum payments every month and we’re not paying off as much to.
Debt as possible it would take us decades to pay off all our debt Pro number two the plan itself is very simple conceptually I mean yes all the seven baby steps they’re very easy just seven simple steps to financial freedom and in theory they apply to every.
Single person in every single situation Pro number three if you are low on motivation the debt snowball will keep you motivated throughout your debt payoff well at least until you get to the really really big debts and pay those off because those will take longer in between but those.
Little tiny debts at the very beginning if you have a lot of them paying those off quickly every month will be like a huge excitement boost and that.