Welcome to Wealth Wisdom—Your Financial Edge Starts Here
Every issue of Wealth Wisdom is your go-to guide for practical insights, real-world strategies, and a dose of encouragement to help you build lasting financial confidence.
Inside, you’ll find clear tips, expert tools, and inspiring content to simplify your money decisions and move you closer to your goals—whether you’re building from scratch or ready to take things to the next level.
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April 2025 Issue 1
April 2025 Issue 1
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Welcome to the very first issue of Wealth Wisdom! In this edition, we’re kicking things off with an overview of Dave Ramsey’s 7 Baby Steps—a simple, proven plan to help you take control of your money and build lasting wealth. I have taught this class for the past 4 years and have seen firsthand the difference it can make.
Whether you’re starting from scratch or getting back on track, these steps offer a clear path to financial peace. Let’s walk through them together and set the foundation for your financial future.
Welcome to Issue 1 of Wealth Wisdom!
In this edition, we’re diving into Dave Ramsey's 7 Baby Steps.
In this edition, we’re diving into Dave Ramsey's 7 Baby Steps.
BABY STEP 1 Save $1000 for your starter emergency fund
BABY STEP 2 Pay off all debt (except the house) using the debt snowball
BABY STEP 3 Save 3-6 months of expenses in a fully funded emergency fund
Baby Step 4 Invest 15% of your household income for retirement
Baby Step 5 Save for your children's college fund
Baby Step 6 Pay off your home early
Baby Step 7 Build wealth and give
Save $1000 for your starter emergency fund
Save $1000 for your starter emergency fund
Baby Step 1 is all about building a small but powerful financial safety net. This step helps you prepare for unexpected expenses—like car repairs, medical bills, or a surprise home fix—so you don’t have to rely on credit cards or loans.
The goal is to save this $1,000 as quickly as possible, even if that means taking on a temporary side job or cutting back on spending. It’s your first line of defense and gives you peace of mind as you begin your journey to financial freedom.
Think of it as the foundation for all the other steps to come.
Pay off all debt (except the house) using the debt snowball
Pay off all debt (except the house) using the debt snowball
Baby Step 2 is focused on gaining momentum by attacking your smallest debts first. List all your debts from smallest to largest—regardless of interest rate—and pay minimums on everything except the smallest one. Put every extra dollar you can toward that smallest debt until it’s gone, then roll that payment into the next one.
As each debt disappears, your motivation grows and your progress speeds up—just like a snowball gaining size and strength as it rolls downhill.
This method builds confidence and keeps you focused as you eliminate debt for good.
Save 3-6 months of expenses in a fully funded emergency fund
Save 3-6 months of expenses in a fully funded emergency fund
Baby Step 3 is about creating true financial stability. Once your debt (except the house) is gone, it’s time to build a stronger safety net for bigger life events like job loss, medical emergencies, or major repairs.
Calculate your monthly expenses and aim to save enough to cover 3 to 6 months, depending on your job security and lifestyle. This fund gives you peace of mind and the ability to handle life’s surprises without falling back into debt.
It’s your financial cushion that protects everything you’ve worked so hard to build.
Invest 15% of your household income for retirement
Invest 15% of your household income for retirement
Baby Step 4 focuses on building long-term wealth and securing your future. Once your emergency fund is in place and debts are paid off (except the house), it’s time to consistently invest 15% of your gross income into retirement accounts like a 401(k) or Roth IRA.
This disciplined investing ensures you’re preparing for the days when you no longer work but still want to live comfortably. The earlier you start, the more your money can grow through compound interest.
This step is all about setting yourself up for financial freedom in your later years.
Save for your children's college fund
Save for your children's college fund
Baby Step 5 focuses on preparing financially for your children’s educational future. The goal is to start setting aside money for college early, using tax-advantaged savings options so that they can pursue higher education without being burdened by student debt.
By building this fund gradually, you secure a valuable asset that could open doors and provide opportunities when they’re ready for college.
Ultimately, this step is about making education an investment in your children’s future, ensuring they have the support needed to succeed.
Pay off your home early
Pay off your home early
Baby Step 6 is all about achieving complete financial freedom. With no other debt and retirement and college savings underway, you can now focus on eliminating your mortgage. Making extra payments toward your principal can save you thousands in interest and help you own your home outright years sooner.
Imagine the peace and flexibility that comes with no monthly mortgage hanging over your head.
This step moves you closer to a life of true independence and increased wealth-building potential.
Build wealth and give
Build wealth and give
Baby Step 7 is the final step—and the most rewarding. With no debt, a paid-off home, and solid investments, you’re in a position to truly enjoy your money and make a lasting impact.
This step is about continuing to grow your wealth through smart investing while also being generous with your resources. Whether it’s giving to causes you care about, helping family, or leaving a legacy, you now have the freedom to live and give with purpose.
It’s the culmination of financial peace—and the beginning of living life to the fullest.
If you’re new to West Egg Wealth, be sure to click on our Getting Started icon. There, you’ll find downloadable materials, free guides, and practical tools designed to help you build stronger financial habits and gain confidence with your money. It’s the perfect place to begin moving toward better financial health and long-term stability.
If you have any questions, thoughts, or comments you'd like to share, I'm always happy to hear from you - just send a message to info@westeggliving.com
I'm here to help!
Thank you for joining us for the very first edition of Wealth Wisdom! We hope you found valuable insights and encouragement as you take steps toward a stronger financial future. It’s an honor to walk alongside you as you grow in financial knowledge, confidence, and peace of mind. Remember, you’re not alone on this journey—and we’re here to support you every step of the way.
Stay tuned for next week’s issue packed with more tips, insights, and motivation. Until then, be kind to yourself and keep moving forward — you’ve got this!
The content provided on this West Egg Wealth is for informational and educational purposes only and should not be considered financial, legal, or professional advice. Always consult with a qualified professional before making any changes to your personal finances. Individual results may vary and West Egg Wealth makes no guarantees regarding specific outcomes.
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I love the video on this one.
I will try dinking water every hourr like I am trying to go 250 steps each hour.. Encouraging idea.
This is great information. I love the new layout. I cannot wait for the next edition!!!
Thanks Riaan.
Great article!