Orlando,Fl 32820,USA
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Jeff@LiveDebtFreeCoach.com

The 7 Baby Steps

What Do Almost All Millionaire Have In Common? 

Before my wife and I got on the same page with money, we had a good relationship, but we had our problems like others. After attending Financial Peace University and learning about the baby steps, we got on the same page with money. We took our young marriage and made our relationship much better and enhanced our chance for success. Our only regret is that we did not do this sooner.

According to the research from Dave Ramsey’s “Baby Steps Millionaires” book, 94% of the 10,000 millionaires surveyed said that they have a “great” marriage if they talked about money and shared their dreams.

This certainly signals to me that success requires communication and dreaming together. Coming to agreements and boundaries on what is essential in a budget can take a lousy marriage to good and good marriages to great. How do you want your relationship to look?

The 7 Baby Steps – A Proven Path To Winning

Baby Step 1: Save $1,000 for Your Starter Emergency Fund
In this first step, your goal is to save $1,000 as fast as you can. Your emergency fund will cover those unexpected life events you can’t plan for. And there are plenty of them. You don’t want to dig a deeper hole while you’re trying to work your way out of debt!

Baby Step 2: Pay Off All Debt (Except the House) Using the Debt Snowball. Next, it’s time to pay off the cars, the credit cards, and your student loans. Start by listing all of your debts except for your mortgage. Put them in order by balance from smallest to largest. This is called the debt snowball method, and you’ll use it to knock out your debts one by one. 

Baby Step 3: Save 3–6 Months of Expenses in a Fully Funded Emergency Fund
You’ve paid off your debt! Don’t slow down now. Take that money you were throwing at your debt and build a fully funded emergency fund that covers 3–6 months of your expenses. 

Baby Step 4: Invest 15% of Your Household Income in Retirement
It’s time to get serious about retirement—no matter your age. Take 15% of your gross household income and start investing it into your retirement. 

Baby Step 5: Save for Your Children’s College Fund
By this step, you’ve paid off all debts (except the house) and started saving for retirement. Next, it’s time to save for your children’s college expenses (that is, if they make it through Algebra II and Chemistry unscathed). 

Baby Step 6: Pay Off Your Home Early
Now, bring it all home. Baby Step 6 is the big dog! Your mortgage is the only thing between you and complete freedom from debt. Can you imagine your life with no house payment? 

Baby Step 7: Build Wealth and Give
You know what people with no debt can do? Anything they want! The last step is the most fun. You can live and give like no one else! Keep building wealth and become insanely generous. 

Benefits of Financial Coaching

Who uses a financial coach and why? All sorts of people use coaching from the very wealthy to those in large amounts of debt. We all know we should not overspend, but we still do that. As a coach I listen intently to you best understand your situation and history with money. I help to uncover what is preventing you from taking the actions you know you should take. 

Perspective

Why do you want to be debt free and become wealth? Your why should make you cry. Perhaps your reason is to help others, put kids through college, retire with dignity or eliminate stress. Are you nervous about learning how to use money?  I will help you uncover your why which is the source of all your strength in your journey.

People

Anytime you do something against the grain, not using debt as a tool, people will point out that you are weird. Great! We want to be weird and not normal in how we use money. This is ok and we will work on how to ignore these voices from others and focus on your goal.

Process

Knowing the baby steps may be enough for some people. But having a plan and working with someone who taken the same journey you have can accelerate your time in becoming debt free. I will help create clarity with you to know where your money is going and how to more effectively use your income. 

Financial Coaching Can Accelerate Your Debt Free Journey