What is Dave Ramsy's baby step to becoming financially stable

Dave Ramsey is a personal finance expert and radio show host who has helped millions of people get out of debt. His approach, known as the “Baby Steps,” is a seven-step program that provides a roadmap for people to become financially stable and get out of debt.

Step 1: Save $1,000 for a beginner emergency fund. The first step in Dave Ramsey’s strategy is to save $1,000 as a beginner emergency fund. This fund will help you cover unexpected expenses without having to use credit cards or take out loans. This step is essential because it provides a safety net and gives you peace of mind, knowing that you can handle unexpected expenses.

Step 2: Pay off all debt (except for your mortgage) using the debt snowball method. The second step is to pay off all debt, except for your mortgage, using the debt snowball method. The debt snowball method involves paying off your smallest debt first and then using the extra money you have to pay off your larger debts. This method helps you gain momentum and build confidence as you pay off each debt, making it easier to stick to your debt-elimination plan.

Step 3: Build up a fully funded emergency fund of 3–6 months of expenses. The third step is to build up a fully funded emergency fund of 3–6 months of expenses. This fund will help you cover unexpected costs without having to use credit cards or take out loans. A fully funded emergency fund will also provide you with peace of mind and financial security, knowing that you can handle emergencies without going into…