Book of the week:

The Total Money Makeover by Dave Ramsey.

If you haven’t heard of Dave Ramsey, you are missing out on plenty of financial wisdom.

In this book, Dave gives you a step by step plan of winning with money.

As you organize yourself to follow the baby steps, you need to setup a zero-based budget.

This is where you allocate the funds from your paycheck before you actually spend them.

With this budget, your total pay-check amount is listed at the top and reduced for every individual expense listed.

All monies have to be allocated thus ending with a zero balance.

The 7 baby steps are:

1.Have an Emergency Fund

2.Get Out of Debt – The Debt snowball

3.Fully-Funded Emergency Fund

4.Invest 15% for Retirement

5.Saving for college

6.Pay-off the house

7.Start Building Wealth and Give

For more financial wisdom, the Dave Ramsey show, financial peace university & budgeting tools, check out daveramsey.com.

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