DAVE RAMSEY'S BABY STEP 2

We've covered baby step 1 and you have $500 -$1,000 in an emergency fund! Baby Step 2 discusses the Debt Snowball and how that works. Simply stated, the more you hate the debt you have, the faster you will get this baby step DONE! On a sheet of paper list your debts smallest to largest. REGARDLESS of the interest rate or payment, you will pay off the smallest first! That will allow you to feel the thrill of getting out of debt! That thrill will cause you to hit the next one, then the next one, and so on! The snowball will keep building...until you owe NO payments to anyone (except the mortgage, that is explained in a future baby step.) Can you imagine how that will feel? FREEDOM!!!

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