The Debt Snowball is arguably the most important of the Baby Steps as it not only clears your debt, it changes your attitude towards money. Baby Step 2 (BS2) is to work on your Debt Snowball The Debt Snowball is a debt reduction strategy where you pay off your debts smallest to largest (regardless of the interest rate), this may seem a bit counter-intuitive to some people but … [Read more...]
Baby Step 1 – Dave Ramsey Baby Steps UK Version
So you've committed to not borrowing money again, have got a budget in place and are ready to start kicking debts bum right??...Well, not quite... Baby Step 1 (BS1) is to Save £1000 in Baby Emergency Fund (EF) This may seem counter-intuitive to a lot of people (Martin Lewis says to not have savings if you have debt but I beg to differ) but it really is a super important step. … [Read more...]
Baby Step 0 – Dave Ramsey Baby Steps UK Version
I'm just going to come out and say this straight away, Baby Step 0 (BS0) is the hardest step! It's a lot to get your head around and a lot of changes to make but once you commit to changing bad habits you have already won half the battle. Baby Step 0 is 'Commit to not borrowing for anything ever again (except for maybe a house in BS3b)' … [Read more...]
Dave Ramsey’s Baby Steps – UK Version
Dave Ramsey is an American Financial guru who created a money management plan that is broken down into 7 'Baby Steps'. It's a fantastic plan but it is very much geared for a US audience (it uses/mentions financial products and terms that aren't relevant here in the UK) so I've created this blog to share the Dave Ramsey Baby Steps UK Version. … [Read more...]
Festive Hamper Giveaway – £400 worth of prizes!
We're kicking off December with a massive £400 Hamper giveaway - 8 lucky winners will win a £50 M&S hamper delivered to their door in time for Christmas! December can be a crazy month, as well as all the normal life and household stuff that there is to manage every month you've then got to contend with making sure you've bought for everyone on your list, organized the … [Read more...]
