Dave Ramsey’s 7 Baby Steps: Pros, Cons, & Our Take

In this post, we review Dave Ramsey’s iconic seven baby steps, provide the pros & cons, and our take. Dave has a huge audience when you consider these  scary financial statistics in the US.

Dave Ramsey is a well-known personal finance guru and coach, helping millions through his top-rated nationally syndicated weekly radio program, books, Financial Peace University, and more.

He has strong convictions about personal finance, backed by his experience, making his own mistakes, research, and religious beliefs.

Dave Ramsey’s 7 Baby Steps At Quick Glance – Save $1,000 For Your Starter Emergency Fund – Pay Off All Debt (except the mortgage) Using The Debt Snowball

– Save 3-6 Months of Expenses for a Fully Funded Emergency Fund – Invest 15% of Your Income in Retirement

– Save For Your Children’s College Fund – Pay off Mortgage Early – Build Wealth And Give

These seven baby steps are complex rules that encompass a personal finance blueprint that has worked for many Ramsey followers, but they are not easy and not without some criticism.

Pros The seven baby steps provide an excellent roadmap to get started in managing your money and setting financial goals.

Cons The seven steps are a one-size-fits-all approach with little flexibility.

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