I highly recommend you read Financial Peace by Dave Ramsey. It is an excellent book that outlines the steps anyone can take to achieve financial peace, regardless of their financial situation. Dave calls them Baby Steps. Here they are:
Baby Step 1: Save $1,000 Baby Emergency Fund
Baby Step 2: Pay off all debts except for the home mortgage using the Debt Snowball
Baby Step 3: Save a Fully Funded Emergency Fund of 3 to 6 months of living expenses
Baby Step 4: Invest 15% of your gross income into retirement savings (Roth IRA, 401K, etc.)
Baby Step 5: Save for your children's college education
Baby Step 6: Pay off your home mortgage early
Baby Step 7: Build wealth and give!
Check Out Dave Ramsey's website at: www.daveramsey.com
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