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Thread: Dave Ramsey's Baby Step
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09-06-2013, 12:42 AM #11Active Nappturality Member
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Starting my $1,000 emergency fund next month. Glad this thread is here.
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09-06-2013, 03:24 AM #12
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i've been doing something like this for the past few months.
my steps are/have been
- get to 1K
- get to 1 month emergency
- get to 3 months emergency
- once I get to 3 months, start differentiating savings from the emergency fund from the savings to buy a home
- save to 6 months then open up a roth ira
after that i should have a pretty good mix of savings. eventually what I plan to have by the end of 2014 is a 3-6 month supply of emergency fund that's easy to get to and low rate of return, a CD or similar with higher rate of return but not as easy to get to, a roth IRA, and 1/2 of what i'd need to make a downpayment on a home. i also plan on learning more about stocks and investing.
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