4. Invest 15% of your income in retirement savings. - Deepstash
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4. Invest 15% of your income in retirement savings.

4. Invest 15% of your income in retirement savings.

Start putting 15% of your gross household income into a 401(k) or Roth IRA.

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7. Build wealth and give.

7. Build wealth and give.

This final step is where you'll start to build wealth and give generously. That includes maxing out your 401(k) or Roth IRA.

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177 reads

3. Save 3-6 months of expenses before.

3. Save 3-6 months of expenses before.

The idea here is that if you lose your primary source of income, you'll be able to support yourself for up to 3 or 6 months without having to go into debt.

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2. Pay off all debts

2. Pay off all debts

The debt snowball is another method made popular by Dave Ramsey. It is simply a way of paying off your debt from the smallest balance to the largest.

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134 reads

6. Pay off home early.

6. Pay off home early.

This step is where you become completely debt free by paying off your home early.

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137 reads

Dave Ramsey's best financial tips for personal finance!

Who is Dave Ramsey?

David Lawrence Ramsey III is an American personal finance personality, radio show host, author, and businessman. He is an evangelical Christian, and hosts the nationally syndicated radio program The Ramsey Show.

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682 reads

1. Save $1000 for emergency.

1. Save $1000 for emergency.

The first baby step is to save $1,000 for emergencies. The point of this emergency fund is to have money set aside when life happens.

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157 reads

5. Save for children college funds

5. Save for children college funds

You can leverage a 529 or Education Savings Account (ESA) to begin saving for your kids' college. These are specifically designed to put money away for your kids' education.

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adityamulukuri

18 | A start-up guy, Content creator, soloprenuer and a podcaster. Building Blast, Snakcards and more. Stashing about entrepreneurship, self-help, spirituality and the most interesting stuff I read.

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  • Firstly, save up for the emergency fund, which is three to six months of expenses, and set it aside. After that, least 15% of your combined gross household income should go towards your retirement, once all debt is cleared.
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