Phil's Financial Tip of the Day:
Dave Ramsey show comes to NY area live
Today the Dave Ramsey show comes live to the NY area on WOR 710 from 2 PM-4PM Monday thru Friday. Dave will be video casting his show from the WOR studio today.
To watch:
http://www.daveramsey.com/home/
This is a good time to review the Dave Ramsey 7 baby steps to Financial Peace:
1) Start an emergency baby fund of $1,000.
2) Debt Snowball- Pay off all debts except the house from smallest balance to highest.
3) When out of debt except for the house, add to your $1,0000 emergency fund by building up 3 to 6 months of expenses in savings.
4) Invest 15% of household income into Roth IRAs and pre-tax retirement-When you reach this step, you’ll have no payments—except the house—and a fully funded emergency fund. Now it’s time to get serious about building wealth.
5) College funding for children-By this point, you should have already started Baby Step 4—investing 15% of your income—before saving for college. Whether you are saving for you or your child to go to college, you need to start now.
6) Pay off your house early-Now it’s time to begin chunking all of your extra money toward the mortgage. You are getting closer to realizing the dream of a life with no house payments.
7) Build wealth and give! It’s time to build wealth and give like never before. Leave an inheritance for future generations, and bless others now with your excess. It's really the only way to live!
Good Luck Dave! Welcome to the Big Apple and Tri State Audience!
Quote of the Day from Dave Ramsey.com:
Happiness depends more on the inward disposition of mind than on outward circumstances. — Benjamin Franklin
Please listen to the Dave Ramsey show live on WOR 710 from 2-4 PM EST. You can also listen to the 3rd hour 4-5 PM EST on Dave Ramsey.com
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