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Step 2: Pay off your Credit Cards - Written a while a go
By yooper | January 24, 2008
Step 2:?? Pay off your Credit Cards
I wrote this post before I decided to make a series on the steps to financial freedom so, I am going to give myself some link love and link to an older post for Step 2.??
Topics: Finance |
June 10th, 2008 at 6:22 pm
Hey bud…I was wandering through this blog of yours and found your finanical ideas thoughtful, but I thought I’d share a link for other folks out there:
http://www.daveramsey.com
or specifically, the 7 baby steps:
http://www.daveramsey.com/etc/cms/baby_steps_2867.htmlc
(1) $1,000 to start an Emergency Fund
(2) Pay off all debt using the Debt Snowball
(3) 3 to 6 months of expenses in savings
(4) Invest 15% of household income into Roth IRAs
and pre-tax retirement
(5) College funding for children
(6) Pay off home early
(7) Build wealth and give!
Using this approach, we have reduced all debt (except our mortgage) by 50% is 4 months, and we have managed to continue to donate money to worthy causes.
Cheers,
Sco
June 10th, 2008 at 7:10 pm
Sco,
Thanks for the comment!! (and on my birthday!). I totally agree with the baby steps…those are perfect.
I am doing my refi to payoff my house as soon as I can now…after that, I need to sell my RV.
Laters,
Jeff (Yooper)