Financial guru Dave Ramsey has a lot of advice for his loyal followers. One of his more popular bits is called the 7 Baby Steps, where Ramsey lays out a series of small financial steps you can take to help put you and your family in a better situation, ultimately providing you with the resources to achieve true wealth.
And while that may sound too good to be true for anyone currently struggling with debt or other financial issues, many people swear by it, including Jennifer Metcalf of Oconomowoc, Wisconsin, who spoke with Parade about her experience with the program. Keep reading to find out what she had to say about the process, including which step was the hardest, and which one felt the most fulfilling.
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View this post on InstagramMetcalf says she was first introduced to the process by a friend whose company had put its entire organization through Ramsey's Financial Peace University. For those who aren't familiar with the process, it involves setting seven goals, each of which helps you build on the step before it, and includes:
Saving $1,000 for a starter emergency fundPaying off all debt other than your house, using Ramsey's snowball methodSaving between three to six months worth of expenses to fully fund your emergency accountInvesting 15 percent of your income into your retirementSaving for your children's college fundPaying off your home earlyBuilding wealth and giving to friends, family, and charitiesRelated: Dave Ramsey Wants Tennessee Couple to Sell Their Newly Built $660k Dream Multigenerational Home
"The catalyst for all of this was in 2017," she revealed. "I was pregnant with our 4th child who was stillborn. The fact that we couldn't afford to pay for a funeral for our son was a huge wakeup call and the catalyst that jump-started all of this."
Metcalf says she began with step one in 2018, working her way through the process up until 2025, when she finally reached the seventh and final step. And while each part came with its own challenges, she said that one was not only the most difficult but also the most rewarding.
"The hardest but most fulfilling step was paying off the house," she says, adding that step six was the one that took the longest to accomplish.
Related: Dave Ramsey Wants North Dakota Man To ‘Walk Away’ From a $10 Million Family Business
Ramsey's Advice Requires Discipline and Patience
The idea of paying off my house by simply following these seven steps seems unreal, but Metcalf says it's totally doable as long as you stay the course. She says you have to follow Ramsey's instructions exactly to make it work, warning, "Do not deviate, or it will cause you to backslide."
As for all that hard work, Metcalf says that it's paid off (pun intended). "It has changed everything," she says. "If something breaks, we have money to fix it. The freedom this has allotted our family is incredible." Like so many others, Metcalf says she was never taught how to manage money properly. "I thought credit cards and auto loans were normal. I thought being wealthy was because you inherited a fortune," she continued, adding that anyone can follow the process, as long as they are willing to do the work.
And it has truly made a difference not just in her life but in the lives of those around her as well. "We have the freedom and ability to help others," Metcalf says, adding that it is also changing things for her children as well. "Our kids are being taught the same, and this will roll downhill into their family."
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
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