https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Fri, 10 Apr 2026 00:40:05 +0000 https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-863952 Mon, 17 Jun 2013 18:54:59 +0000 Raindrop 863952@https://boards.hellobee.com/ <p>I think this is a great advise but when people ask my thoughts about this, I usually tell people to take any money advise with a grain of salt. </p> <p>What works for others might not work for you and vice versa. Just do what is right for you, there are different ways to invest and save and you have to find the right combo to makes you happy and you are comfortable with. :) </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-863411 Mon, 17 Jun 2013 14:16:47 +0000 NorCalWayfarer 863411@https://boards.hellobee.com/ <p>@Lindsayinny: I think all of mine are on the 10 year repayment plan already, so I guess that's good...less time to repay means less interest I hope! </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-863349 Mon, 17 Jun 2013 13:56:37 +0000 LindsayInNY 863349@https://boards.hellobee.com/ <p>@NorCalWayfarer: My two cents - when/if you can, look at the repayment plan options. We had all of ours on the longest options possible only to find out that moving them to a shorter plan was only a small amount more per month. So most of ours are on 10-15 year plans instead of 20-25 years now which will help in the long run! </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-863334 Mon, 17 Jun 2013 13:52:27 +0000 NorCalWayfarer 863334@https://boards.hellobee.com/ <p>@LindsayInNY: Amen about the student loans, unfortunately. I don't even know where to start with them, so I've just been paying the minimums which is still huge. </p> <p>Does anyone know if there are different recommendations for paying off student debt? We pay off credit cards every month and have a small car payment with miniscule interest rate so I'm not worried about that. </p> <p>$1,000 In An Emergency Fund -- check<br /> Pay Off All Debt With The Debt Snowball (except mortgage)<br /> 3 To 6 Months Expenses In Savings -- check<br /> Invest 15% Of Income Into Roth IRAs And Pre-Tax Retirement Plans -- check, kinda (DH does 14% and I do 10% of mine)<br /> College Funding<br /> Pay Off Your Home Early<br /> Build Wealth And Give </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-853538 Thu, 13 Jun 2013 07:42:35 +0000 PurplePumps 853538@https://boards.hellobee.com/ <p>I've never seen that before, but we've got 1-4 covered. I was very lucky to finish school without any debt and lived at home after graduating so I never had debt and was able to max out retirement funds and save a bit. DH had a little debt after school (I think less than 8k) at pretty low interest so we just paid it off slowly until it was around 1k, then just paid it off to get it done. We'll start the college fund when we have a kid. And we don't plan on paying off the mortgage early since the rate is so low that our money is better off in investments. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-853399 Thu, 13 Jun 2013 06:33:04 +0000 Adira 853399@https://boards.hellobee.com/ <p>@sunny: haha, so true! I don't think I'm financially savvy enough to figure out whether or not my investments really are better for me than paying off my debt! Oh well. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-853291 Thu, 13 Jun 2013 03:17:25 +0000 loveisstrange 853291@https://boards.hellobee.com/ <p>We're currently paying down down debt (student loans) and we havent started retirement saving too much yet, but we have the other steps, pretty much. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-853263 Thu, 13 Jun 2013 02:32:59 +0000 sunny 853263@https://boards.hellobee.com/ <p>@Adira: Keep in mind taxes on your earnings eat into the gains. So your earnings have to be large enough over the 3-5% interest you're paying. I had a car loan at 4% and I was making 5% bank interest but I still would have been better off paying off my car since my bank interest was taxed at 28%.</p> <p>If you're really savvy, you can structure things in such a way that you can write off the interest but I don't know how to do that :-) I just know that when you borrow money and invest it, you can write off that interest as well. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-851675 Wed, 12 Jun 2013 13:57:13 +0000 citymouse 851675@https://boards.hellobee.com/ <p>@daniellemybelle: @highwire: I forgot about the "Pregnancy Clause"!! Haha. We are definitely putting things on hold to let the money pile up! At least a little we hope! :-) </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-851659 Wed, 12 Jun 2013 13:53:24 +0000 DillonLion 851659@https://boards.hellobee.com/ <p>@daniellemybelle: Oh yeah we definitely piled up a big savings account for when I went on maternity leave! </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-851654 Wed, 12 Jun 2013 13:52:42 +0000 LindsayInNY 851654@https://boards.hellobee.com/ <p>I don't follow it... #1 and 3 are fairly easy for us. But #2? DH and I each have 6 figures worth of student loan debt. I think our mortgage is the same amount as our student loans combined? So trying to pay all that off is kinda insane. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-851590 Wed, 12 Jun 2013 13:34:47 +0000 daniellemybelle 851590@https://boards.hellobee.com/ <p>We loosely follow this plan. I think the debt snowball makes a lot of sense. However, since we're pregnant, we skipped #2 and are almost done with #3. He actually recommends "piling up money" when you are pregnant just in case, and then once the baby is here, put what you piled up towards debt. Instead, we are just going to keep it as our 3-6 month emergency fund and start fresh on the debt.</p> <p>One of the things I don't love about the baby steps is that he assumes you already have a mortgage, which I guess a lot of his followers do. For us, we are going to save for a down payment on a home after we are done paying off our debt, and before we start investing. It just makes more sense to us to put money towards a home that we have equity in than to keep throwing it away in rent. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-851467 Wed, 12 Jun 2013 13:05:38 +0000 Anagram 851467@https://boards.hellobee.com/ <p>Oh lord.....this list depresses me, just because, DH probably has every thing on that list (except pay into college fund, but we'll start that when LO gets here), and I'm wayyyy back on step 2 because I have 1 big college loan left.</p> <p>But honestly, I've never been in a big hurry to pay if off. The interest rate is 2% and the payment is only $120/month. I guess I could start doubling the payment but at that rate, I'd still have 6 years left to pay it off, which is super depressing for some reason. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-851348 Wed, 12 Jun 2013 12:39:17 +0000 citymouse 851348@https://boards.hellobee.com/ <p>@CottonCandy: Oh yes, I hate some of his condescending remarks. But he is such a smart person I let it roll off my shoulder. Definitely annoying though! </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-851346 Wed, 12 Jun 2013 12:38:34 +0000 citymouse 851346@https://boards.hellobee.com/ <p>@regberadaisy: The reason the mortgage is lower on the list is because it is a "good" debt. Its an investment. Nothing on a CC is good debt. The snowball is like this: Pay off one thing, then roll that payment into the next thing's payment on the list (Both payments were $100, but bc one is gone now, you can pay $200 to #2 on the list), then when that is paid off, roll those TWO payments into the next thing ($200, plus whatever #3's payment is, etc...) So by the end of the list you have a huge amount going to the final thing and its paid off really fast. Does that make sense? </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-851340 Wed, 12 Jun 2013 12:36:57 +0000 mrsjazz 851340@https://boards.hellobee.com/ <p>I have his book and we just started doing the baby steps. We already had steps 1 &amp; 3 down before we started. I don't know if we will stick with the baby steps--we are definitely liking the envelope system but the hardest part for us is doing them in order...right now paying off all our debt doesn't seem exciting because I have 63k in student loans to pay off and that is going to take a while. We want to buy an apartment in our area because lots of people are being priced out of other areas and coming to ours so we want to get in while we can still afford it in the next year or 2 and we won't be able to pay off my loans first. </p> <p>I guess we're Dave Ramsey light--he wouldn't like our plan! </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-851328 Wed, 12 Jun 2013 12:34:08 +0000 CottonCandy 851328@https://boards.hellobee.com/ <p>@citymouse: that gives me hope!!!</p> <p>DH is a big fan of Dave Ramsey and got me listening to his radio show...I think he is condescending to a lot of his callers and thinks his jokes are wayyyyyy funny when they really aren't but with that said, he gives amazing advise and I am trying to pay down my debt with the snowball effect. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey/page/2#post-851320 Wed, 12 Jun 2013 12:30:22 +0000 citymouse 851320@https://boards.hellobee.com/ <p>YES!! We love Dave Ramsey and have been following those steps, in that order, for the past two years. We have paid off 25-30 grand in debt this way. Not joking. Two car payments and two cc payments. We have my student left after that! </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey#post-850878 Wed, 12 Jun 2013 10:20:28 +0000 regberadaisy 850878@https://boards.hellobee.com/ <p>@mediagirl: yes, please! </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey#post-850872 Wed, 12 Jun 2013 10:18:25 +0000 Boheme 850872@https://boards.hellobee.com/ <p>We follow it and we're on step 2, very close to starting step 3. We did more than 1k in emergency though, due to the rental property I own - which is actually my former house. I just couldn't sell it when DH and I got married. Once we unload that thing it's full speed ahead! </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey#post-850819 Wed, 12 Jun 2013 09:58:55 +0000 mediagirl 850819@https://boards.hellobee.com/ <p>@regberadaisy: if I can find it, I could send you the cd's. When you join the class, you get a set of cd's that are just the audio recordings of the classes. Mine are his older ones and some of his points are WAY off base when it comes to percentages for savings but, the general gist of the program is there. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey#post-850817 Wed, 12 Jun 2013 09:57:57 +0000 mrsjyw 850817@https://boards.hellobee.com/ <p>We're good with all the steps except for #2! I've still got a few payments on my car, we have no interest payment plans on a few things, and student loans! But I feel like for the most part, we're doing okay! </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey#post-850812 Wed, 12 Jun 2013 09:56:16 +0000 mediagirl 850812@https://boards.hellobee.com/ <p>@littlek: @looch: we don't have a lot to send to college right now. We send any bonuses we get to her college fund and send a set $ to it each month. That number is not a lot and it certainly isn't what people say you "have" to save to be able to fully pay for college in 18 years. Our goal is to have enough to help her with college, not to pay it in full. </p> <p>We probably are not doing things the way DR wants us to but, we find paying off the house more important than putting away money for college right now. Once we have the house paid off, we will be able to put some more money towards her college fund.</p> <p>When we get raises, we split the money between college, the house and savings. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey#post-850803 Wed, 12 Jun 2013 09:54:20 +0000 DillonLion 850803@https://boards.hellobee.com/ <p>@regberadaisy: Our problem was that we had a nice, cushy savings built up and kept pulling from it for things like car repairs, new couch, etc. and NEVER replaced the money. So now there's barely anything in there LOL. So, we are starting over. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey#post-850799 Wed, 12 Jun 2013 09:52:30 +0000 regberadaisy 850799@https://boards.hellobee.com/ <p>Now that I think of it the 1K does make sense. Unexpected expenses come up so often and they usually set us back. So having that fund set aside will be helpful in keeping the momentum going, so to speak. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey#post-850797 Wed, 12 Jun 2013 09:50:58 +0000 littlek 850797@https://boards.hellobee.com/ <p>@mediagirl: Do you make a monthly payment to college savings? We have been taking $10k out of DHs bonus and putting that towards LOs 529 plan but it's not sustainable since we should not budget around a bonus. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey#post-850796 Wed, 12 Jun 2013 09:50:45 +0000 .twist. 850796@https://boards.hellobee.com/ <p>@regberadaisy: I don't think you need to buy a plan. He has a few really great books. The one that @highwire: is talking about sounds good. I also have The Total Money Makeover and really like it. He changes the way you think about money and spending/loaning/debt/etc. Pick up one of his books (like from the library!) and you'll be on your way! :D </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey#post-850795 Wed, 12 Jun 2013 09:50:45 +0000 DillonLion 850795@https://boards.hellobee.com/ <p>@looch: @regberadaisy: OH yeah I read many financial books via the library for free! </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey#post-850793 Wed, 12 Jun 2013 09:49:52 +0000 looch 850793@https://boards.hellobee.com/ <p>@regberadaisy: check your local library, they might have the plan. </p> https://boards.hellobee.com/topic/7-baby-steps-dave-ramsey#post-850791 Wed, 12 Jun 2013 09:49:35 +0000 DillonLion 850791@https://boards.hellobee.com/ <p>@mediagirl: We also keep a list of PAID OFF DEBTS on our finances spreadsheet that we use so that we can see all of our hard work :) </p>