Local Real Estate Comments and Ramblings


Dave Ramsey - The 7 Baby Steps

Dave Ramsey - The 7 Baby Steps

Since we are starting a Dave Ramsey Fan group here on AR I thought it might be nice to list his 7 baby steps to financial freedom.  Hopefully as this group grows there will be folks stopping by who are not so familiar with Dave's strategies.  This will be a good quick outline for visitors to refer to.

1. $1,000 in an emergency fund.  This is stashed away for true emergencies.  The latest hot concert tickets going on sale is not an emergency. The water heater going out in your home is an emergency.

2. Pay off all debt except for your home utilizing the "debt snowball".  What's the debt snowball?  Look at all of your debts.  Pay the minimum payments on all of them but the smallest debt.  Put everything extra on the smallest. When it is paid off  then take the same dollar amount you were paying on the smallest + the minimum on the next one and continue paying until that one is done.  Continue working your way up the ladder making larger and larger payments on the larger debts.  As the "snowball" gets larger the debts will go away faster.

3. 3-6 months of  living expenses in savings. This is your security blanket against unexpected hard times (and slow real estate markets LOL)

4. Invest 15% of your household income into Roth IRAs and pretax retirement accounts.

5. Save for your kids college funds. 

6.  Pay off your home early.

7. Build wealth and give! 


For more about Dave Ramsey visit his website www.DaveRamsey.com


Bob Southard, e-ProRealtor®, Solid Source Realty, Inc. Buy or sell a home in Powder Springs, Marietta, Kennesaw, Acworth, Dallas, Hiram,and Cobb, Paulding, Douglas, North Fulton, South Cherokee, County, Ga

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Copyright © 2008 By Bob Southard, All Rights Reserved





Bob Southard
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Comment balloon 18 commentsBob Southard • October 08 2008 02:19PM


That's great, Bob! I joined the group this morning. It's about time we got a fan group for Dave and his wisdom about money management.

He's coming to the Pacific Northwest area soon and I can't wait to see him live. Keep fighting the good fight!

Thanks for sharing, Nicole Weidauer

The Egerer & Weidauer Team, Keller Williams Realty North Seattle

Posted by Nicole Weidauer (Keller Williams Greater Seattle) almost 12 years ago

One of the questions posed by Tom Brokaw last night during the debate was WHO do you have in mind to become Sec Of Treasury?

Obama didn't have a name to give and McCain said Meg Whitman from EBAY.  The only name that came to mind for me was Dave Ramsey.  I'm sure he would never do it, but man...what do you think it would be like  just 4 years down the road under Dave running the money?



Posted by Ron Tarvin, Broker, Katy, Houston, Cypress 77450,77494,77095 (Residential, Investment properties, rehab projects, property management, luxury homes, new construction!) almost 12 years ago

Bob- Thanks for posting. I will go take a look at what Dave has to say. The basics you shared look to be good common sense to me.



Posted by Scott Cowan (RE/MAX Professionals) almost 12 years ago

Bob- These are great tips. I really enjoyed the one about debt snowballing. Thanks for posting these!

Posted by Ilyce Glink, Best-selling author, award-winning TV/radio host. (Think Glink Media) almost 12 years ago


Wow,  I'm excited to get a comment form you.  I listen to you often when you are subbing for Clark.  Thanks for the comment.



Visit his website at www.DaveRamsey.com.  If you haven't doen so already please hjoin our group and check back often.



Dave running the money would make congress go insane! That could be a good thing :-).  Imagine gov't with a banced budget.


thanks for joining the group!  Enjoy Dave's live event and be sure to post here and tell us all about it.

Posted by Bob Southard, e-Pro - Cobb, Cherokee, North Fulton (Atlas Realty Service, LLC) almost 12 years ago

Thanks for the reminder!!!! I have always been a big fan of Dave Ramsey!  He is a wonderful man and a great financial advisor.

Posted by Rose Robinson (Coldwell Banker Wright Realty) almost 12 years ago


Thanks for your comments.  I'm not sure whre you saw the post but check out

Thanks for the comments

Posted by Bob Southard, e-Pro - Cobb, Cherokee, North Fulton (Atlas Realty Service, LLC) almost 12 years ago

I have listened to Dave Ramsey for over 10 years, I give him credit for my successful real estate career.  I would have never been able to handle the ups and downs of this business if it were not for his teachings.  1. no credit card debt is key.  If some people looked at what they were spending on stupid things they would not be behind on their mortgages.  Also, have you every looked at credit card statement at the end of the year to see what the interest was, I bet for many, it was equal to one mortgage payment.  Glad to see this post!

Posted by Eden Jordan almost 12 years ago

Bob, a great recap of seven common sense principles to be on solid financial footing.

Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) almost 12 years ago

Hey Bob!

I'm new to Active Rain and this is one of the first groups that I've signed up for! I listen to Dave's Radio show all the time and love the way he answers his listners when they ask how he's doing by saying, "I'm better than I deserve." This quote just always reminds me of how blessed I already am. Feel free to come on over to my blog and comment anytime as I get more acquainted with Active Rain. I promise to shoot a comment back your way every time!

 Kurtcares of Tucson, AZ

Posted by Kurt Duffeck, Anew Real Estate Crew - Start Right. Start ANEW. (ANEW Real Estate Crew at Keller Williams Realty) almost 12 years ago

Bob, I'm glad to hear about a Dave Ramsey group.  Years ago, I helped teach his principles to a group of high schoolers.  Good stuff.

Posted by Heather Goodwin, Coldwell Banker Gosslee (Licensed by the Louisiana Real Estate Commission) almost 12 years ago

Bob...Thanks for the post. My husband and I are working the steps and it was great to have a Cash Christmas. I'm also trying to apply the steps to my business as well. Have a great 2009!

Posted by Kim Dean, Simply Texas Real Estate - Broker/Owner (www.GoSimplyTexas.com) over 11 years ago

 Bob, Thanks for this post. I'm new to AR and found this post and joined this group. I just completed teaching my 6th Finacial Peace University at our church. We have had over 125 attend this class. It is a passion of mine and has been a ministry for me.

  I look forward to more conversation in this group.

                                                      Thanks, Greg

Posted by Greg Miller, Florida Home Loans - Conventional,FHA,USDA,VA (Ruoff Home Mortgage ) over 11 years ago

I have been looking for his class at local churches. His book is great. Common sense, baby steps. I'm on the first step and I can't wait to get to step 2. I'm going to reference your post in one that I have as a draft that I'll finish shortly.

Posted by Pam Graham, Jacksonville, Clay & St Johns Counties (All Real Estate Options) over 11 years ago

Hello Bob and everyone else!  I just entered this group but I have been a Dave Ramsey Follower for about 14 years!  The debt snowball worked like nothing else I had ever tried!  And well, since Murphy law is always just a dollar away, you cannot beat having that emergency fund right there.  This economy has hurt so very many, but I was able to purchase two new (to us) vehichles at rediculas prices with mostly cash!  (Don't tell Dave, but we did finance a small portion).  I believe in running vehichles until they crumble in our driveway - both of our did at the same time!  If I followed Dave Ramseys plan as well as I should have, I would have paid all cash! 

Posted by Laura S. Baker, Realtor (920) 728-4118, First Weber Inc (First Weber Inc) about 10 years ago


Thanks for stopping by. We're getting pretty good at keeping our cars.  Mine has over 190,000 miles my wifes has 229,000

Posted by Bob Southard, e-Pro - Cobb, Cherokee, North Fulton (Atlas Realty Service, LLC) about 10 years ago

Hello again Bob,

Sounds like ours!  Our ranger had 297,000 miles and our Taures had 267,000 miles when they died.  I don't know that I'll ever go that far again.  It is really nice not using my feet to paddle through the floor boards any more ~ and aahh, the airconditioning!  Okay, so it wasn't quite that bad.  However, when you save and wait this long, it truely does make one appreciate what they have!

Posted by Laura S. Baker, Realtor (920) 728-4118, First Weber Inc (First Weber Inc) about 10 years ago

Laura,  Amen to that!  My wifes minivan is going quite well at 229,000.  My Jag at 190,000 is really on its last legs. 

Posted by Bob Southard, e-Pro - Cobb, Cherokee, North Fulton (Atlas Realty Service, LLC) about 10 years ago

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