![]() ![]() If you’ve been reading personal finance blogs for any time now, then you have probably heard all about Dave Ramsey and FPU, especially Dave Ramsey’s Baby Steps and the Debt Snowball, a popular method for getting out of debt. At the minimum, I think this is a great course for teaching people the importance of saving, getting out of debt, and planning for the future. It was an excellent experience and I highly recommend this course if you feel like you can make some improvements with your financial management. My church hosted Dave Ramsey’s Financial Peace University. He recommends that you live a financial life like a gazelle saves itself from an attacking cheetah – “outmaneuver the enemy and run for your life.” You can read more about your life’s pros and cons of gazelle intensity. Ramsey uses the term “Gazelle Intensity” to describe how you need to attack your debt. The theory is that quick wins will help keep you motivated. As you can see, your debt payments “snowball” over time. When you retire that debt, you add the amount you were paying on that bill to the next debt on your list and repeat the process until all your debt is paid off. Dave Ramsey’s method is to determine how much money you owe on all your debts and pay the minimum toward those debts while adding any extra funds toward the smallest debt to eliminate it more quickly. The debt snowball is a strategy Dave Ramsey uses to help people get out of debt more quickly by applying additional money in their budget toward their debts to accelerate payments. Here is more information about Dave Ramsey’s Baby Steps.ĭave Ramsey’s Debt Snowball. His teachings are bound by faith and common sense. Notice it doesn’t say “wealth beyond belief.” Dave Ramsey isn’t a get-rich-quick guru. Part of The Total Money Makeover is Dave Ramsey’s Baby Steps, which is a 7 step process to financial freedom. Below are a few concepts you will find in Dave Ramsey’s Total Money Makeover:ĭave Ramsey’s Baby Steps. ![]() It’s a popular book, and for a good reason – it works! Total Money Makeover has undergone several revisions and updates since its original publication, but the core concepts remain the same. You can find out if his show is on your local radio station.ĭave Ramsey’s Total Money Makeover. Dave Ramsey’s most popular book is The Total Money Makeover, which went on the best-seller lists shortly after its publication in 2003. He uses a tough love approach to help people gain control of their financial situation. His style is more about preaching and behavioral adjustment than pure financial information, which is a large part of his appeal. Dave Ramsey hosts a syndicated radio show heard across the US. About Dave Ramseyĭave Ramsey is well-known for his radio show, books, and Financial Peace University program, which has been widely adopted by many in the Christian community. He is renowned for his Christian background and no-nonsense approach to personal finance, especially when it comes to getting out of debt, staying out of debt, and living financially free. Dave Ramsey is one of the most popular personal finance gurus in the United States. ![]()
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