Our family has gone through financial hardships in the past. There were times that we felt we would never get out from under our mountain of debt.
But we did.
In the coming months, I’m going to share what our family did to get out of debt in the space of eight months. One of the instrumental people in that process was Dave Ramsey. His teaching leads people through 7 Baby Steps that can lead you to a debt free life where you can eventually live and give like no one else.
His first step: Save a $1000 emergency fund ($500 if you’re a single person or student)
Emergencies will come. They always do. They also happen to hit at that magic number $1000, whether it’s a car repair, medical bill, whatever. You have to be prepared. Once that net is in place, it gives you a little breathing room so that you can focus on getting out of debt and living a more financially peaceful life.