I now watch the Dave Ramsey show whenever I can. I also signed up as a member on the www.daveramsey.com web site. Lot of good forums and good information there.
He talks about the Total Money MakeOver approach to paying off your debts and building emergency funds. I used to have so much saved up a long time ago. It's pathetic how fast your savings can dissappear when you have layoffs and also get stupid with your money.
Dave Ramsey has a seven step plan (Baby Steps - BS) for getting out of debt, staying out of debt and prospering:
BS1 - build $1,000 emergency fund
BS2 - Payoff ALL your debts - start with lowest balance first
BS3 - build 3 to 6 months emergency fund
BS4 - Invest 15% of your income
BS5 - College Funding
BS6 - Payoff your home early
BS7 - Build Wealth, Give
I completed BS1. Now I'm working on BS2 - should take me 4 years. Then on to BS3 to 7.
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