A DEBT-RIDDLED woman has revealed how she paid off everything in nine months by following the advice of Dave Ramsey.
The financial guru has a seven-step method to help Americans live debt-free and save money.
A woman on Facebook has shared her success in becoming debt-free thanks to the advice of Dave Ramsey.
She revealed in a post that she had been following his cash-based, anti-credit cards methods for one year.
Within nine months, she was debt-free.
Now, continuing with the strategies she learned, she was saving at an astronomically higher rate than she had before.
“And now, a year in, I am now saving SEVENTEEN TIMES the amount as when I started a year ago,” she wrote.
“That’s mind-blowing to me, especially during these awful inflated times.”
She is now a big advocate for Dave’s methods.
“I’ll say this forever. I can’t recommend his plan enough.
“You’ll be going against the grain of what’s normal in our society, which has its challenges, but normal is also broke and that has even more challenges.”
DAVE’S METHOD
Dave Ramsey has developed what his company calls The 7 Baby Steps – a proven method to save for emergencies, pay off debt for good, and build wealth.
Dave Ramsey’s 7 Baby Steps
Dave Ramsey advises his followers to follow a seven-step plan to save for emergencies, pay off debt, and build wealth.
Step 1: Save $1,000 for your starter emergency fund.
Step 2: Pay off all debt (except the house) using the debt snowball.
Step 3: Save three to six months of expenses in a fully funded emergency fund.
Step 4: Invest 15% of your household income in retirement.
Step 5: Save for your children’s college fund.
Step 6: Pay off your home early.
Step 7: Build wealth and give.
The Nashville-based money guru is strongly opposed to credit cards and all forms of consumer debt.
With the snowball method, debts are paid off in order of their size, from smallest to largest, regardless of their interest rate.
Dave advises paying off all forms of debt except for the mortgage, including credit cards, auto loans, and student loans,
The financial whizz himself was previously millions of dollars in debt.
For more than 30 years, he has been helping Americans avoid the same mistakes that he made and live debt-free.
His Financial Peace University has helped more than 10 million people take control of their money for good.
Meanwhile, his book, Total Money Makeover has sold more than five million copies.
His radio phone-in, The Ramsey Show, often dishes out advice on retirement dilemmas.
See what he advised for a 46-year-old with $42,000 debt and no retirement.
And find out what Dave told a 70-year-old caller with no retirement.