Dave Ramsey Baby Steps: When You Should Use Them (& When You Shouldn't)

Today we are talking about the Dave Ramsey Baby Steps and are the right for you? How do you know if the baby steps or the debt snowball will be right for your lifestyle. In this video, I go over 6 times when you absolutely should use the Dave Ramsey Baby Steps and the debt snowball and 6 times that you might want to consider looking at other places or maybe just modify them for your personal situation.

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* My website: www.wendyvalencia.com
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We are a family of three (Wendy, Mauricio and Melina - Age 9), living in the suburbs of Washington DC (Vienna, VA) and getting our financial life in order!  We earn a solid multi-6 figure income but in the past, we have struggled to pay for unexpected expenses and emergencies. We truly lived paycheck to paycheck even though we had a positive overall net worth because of our retirement savings.

In 2016 everything changed. We decided to get out financial act together and since that time we have gotten 1 full month ahead in our income (which means what we earn this month goes to pay next month's bills), paid off well over $200,000 worth of debt, started planning ahead and saving for big financial expenses (like summer camp, a new car, a down payment on a house to name just a few) and we are even paying CASH for my Mauricio's graduate school (he's changing careers and becoming an architect!).

We believe that there is no one size fits all plan for being successful with money so we are creating our own path. It is our theory that every family should evaluate their own financial struggles and determine the root cause of those issues. For us, those issues stemmed from committing to giving without looking at the impact on our own financial situation. We did not have debt because we bought fancy cars or clothes, we had debt because we chose to give away hundreds of thousands of dollars before we actually earned it. Now when we give, we give with cash that we have saved for the sole purpose of giving.

We understand the shame and guilt of having such a large income and not having enough cash to pay for an emergency...like when the transmission on the car goes out or there are large medical expenses. We have developed a plan that works for us and we are so proud of how far we have come since 2016!

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FAQs
* Why We Have A Storage Unit: https://youtu.be/oUiqZeNKN0Q
* What's Wrong With My Voice: https://youtu.be/a2BDlcSsh_A
* Why We Had So Much Debt: https://youtu.be/o-Ht0nlDoEc
* How I Curl My Hair: https://youtu.be/6_Kzsk-bKpE
* Why We Live With My Parents: https://youtu.be/KVLOfcnsCtI
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We have snail mail:

Wendy Valencia
PO Box 361
Dunn Loring, VA 22027

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Видео Dave Ramsey Baby Steps: When You Should Use Them (& When You Shouldn't) канала Wendy Valencia