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Dave Ramsey 7 Baby Steps Analysis

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The presentation that I saw during the preparation of this discussion board post is entitled, “The 7 Baby-Steps” by Dave Ramsey. In this presentation, Dave Ramsey utilizes seven baby steps that will help individuals get out of debt and start a savings account. The question that was being answered in this research report is no matter what your income level is, Dave Ramsey will utilize your earnings in slowly chipping away at your debt. Dave Ramsey is very serious about his study and has used his teaching in his own life. Once a millionaire, Dave Ramsey had lost it all and was in crippling debt. However, using his research he developed a plan that not only allowed him to get out of debt, but to also become a millionaire once again. Baby step one requires all individuals to save $1,000 and to place it in your emergency fund. This fund should never be touched unless a severe emergency were to occur. The second baby step is to pay off all debt using the debt snowball technique. Dave Ramsey believes that if you pay off your smallest debts first then you will see the effects of your labor and will allow you to have the motivation to pay off the bigger debts. This presents the first feature related to research which is the carry over effect that is described in Dr. Crawford’s book …show more content…

The research participants are not biased contenders because it depends on their willingness to stick through till the end. This also increases the maturation in the subjects participating in the seven baby steps. Unfortunately, due to the self-encouraged motive behind the seven baby steps, the third point that is related to research is the issue of an extremely high attrition level that is gathered from the participants. However, If you are self-disciplined enough to make it through all seven baby steps then the research conducted by Dave Ramsey will be very beneficial to your financial

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