Living paycheck to paycheck can be extremely stressful especially towards the end of the month trying to make sure all your bills are paid and there is food on the table. If you have been in this situation or are currently in it, you may seem like you are in a hole that you can’t get yourself out of. But there is hope! No, it will not change overnight but if you take small baby steps, you can have financial freedom and hope for your future!
Here are some baby steps that we have found helpful from Dave Ramsey in Financial Peace University:
Baby Step 1: Save $1,000 for Your Starter Emergency Fund.
Baby Step 2: Pay Off All Debt (Except the House) Using the Debt Snowball.
Baby Step 3: Save 3–6 Months of Expenses in a Fully Funded Emergency Fund.
Baby Step 4: Invest 15% of Your Household Income Into Retirement.
Baby Step 5: Save for Your Children’s College Fund.
Baby Step 6: Pay Off Your Home Early.
Baby Step 7: Build Wealth and Give.
BOOKS
Financial Peace Revisited: New Chapters on Marriage, Singles, Kids and Families Dave Ramsey
“Dave Ramsey’s New York Times best-selling guide to better living through financial security, now completely revised and updated. Dave Ramsey knows what it’s like to have it all. By age 26, he had established a four-million-dollar real estate portfolio, only to lose it by age 30. He has since rebuilt his financial life and, through his workshops and his New York Times business best sellers Financial Peace and More than Enough, he has helped hundreds of thousands of people to understand the forces behind their financial distress and how to set things right-financially, emotionally, and spiritually.”
Live. Save. Spend. Repeat.: The Life You Want with the Money You Have Kim Anderson
“Do you feel stuck in a cycle of work, bills, and worry? Maybe you’re too nervous to take a hard look at your budget, or your past budgeting efforts have resulted in little success. Either way, when your bank account flatlines and frustration mounts, real progress seems impossible. There is a better way to reach your goals! In Live. Save. Spend. Repeat. you will discover a simple-to-implement plan that will help you wisely use your money to break the cycle of financial mistakes and worry. Your confidence will grow as you learn how to
create a realistic easy-sync budget
accomplish the most with the money you have rather than wish you had
unshackle yourself form the burden of debt
spend without regret on the things that matter most to you
make small, intentional choices that lead to big change
Financial freedom isn’t all about sacrifice. Use your money as a tool to reach your goals and finally experience joy and success as you Live. Save. Spend. Repeat.”
How to Be Rich: It’s Not What You Have. It’s What You Do With What You Have. Andy Stanley
You probably don’t feel rich. Rich is the other guy. Rich is having more than you currently have. But you can be rich and not feel it. And that’s the problem. Andy Stanley is convinced that most of us are richer than we think. We just aren’t very good at it. It’s one thing to BE rich. Andy wants us to be GOOD at it!
This classic text is annotated to update Graham’s timeless wisdom for today’s market conditions. The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham’s philosophy of “value investing” — which shields investors from substantial error and teaches them to develop long-term strategies — has made The Intelligent Investor the stock market bible ever since its original publication in 1949. Over the years, market developments have proven the wisdom of Graham’s strategies. While preserving the integrity of Graham’s original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today’s market, draws parallels between Graham’s examples and today’s financial headlines, and gives readers a more thorough understanding of how to apply Graham’s principles.”
PODCAST
Financial Freedom Podcast Grant Sabatier
“Money only matters if it helps you live a life you love. On the Financial Freedom podcast we interview remarkable people and share strategies for mastering money and living a meaningful life. Topics include personal finance, investing, side hustling, real estate, entrepreneurship, early retirement, and more. Financial Freedom is hosted by Grant Sabatier, author of Financial Freedom and creator of Millennial Money. Grant reached financial independence and “retired” at the age of 30.”
A Message of Hope Ramsey Solutions
“A Message of Hope is a short, daily podcast to help you navigate the current events affecting your life, money, and career. You’ll hear from thought leaders Dave Ramsey, Ken Coleman, Rachel Cruze, Chris Hogan, Christy Wright, Anthony ONeal and John Delony.”
Borrowed Future Ramsey Solutions
“There’s a massive student loan crisis in America. Millions have found themselves buried beneath a mountain of debt. This podcast series explores the lies we believe about college and digs into the soaring cost of tuition and the predatory nature of the student loan industry. Listen and subscribe to learn how to pay for college without debt or know if college is even the right choice for you.”
The Chris Hogan Show Ramsey Solutions
“The Chris Hogan Show provides sound answers to your money questions. Featuring Chris Hogan, America’s trusted voice on retirement, investing and building wealth, this show educates, encourages and empowers listeners of all ages to create a solid plan for their money and to work toward becoming everyday millionaires.”