Dave Ramsey- UK Baby Step 0

 

I’ve mentioned quite a few times that I loosely follow the Dave Ramsey 7 Baby Steps. I say ‘loosely’ because living in the UK means I do things slightly differently.

I’ve had quite a few requests to explain what the 7 baby Steps are, so I’ve decided to do a series of posts over the next few weeks, explaining each Baby Step, and how I ‘translate ‘them for the UK market.
This is the 1st post, which is all about Baby Step 0.

What is Baby Step 0?

Baby Step 0 is essentially, getting current on all of our bills. We don’t need to think about any of the other Baby Steps until we are current on our bills and are out of our overdraft.

So, in this step we need to think about our 4 walls.

These are:

1. Food-above all else, before we do anything else, we need to feed ourselves and our families.

2. Shelter (rent or mortgage)- We also need somewhere to live.

3. Utilities- we need to have lights, heating and electricity.

4. Transport- if we need to get to work then we need to think about this as it is crucial to making a living.

Then, we get current with things like credit cards, loans and other debt, before we actually start the Baby Steps. So, we are covering our 4 walls, and paying the minimums on all of our debts.
The aim is for us to get (and stay) current all the way through paying off the Baby Steps.

Stay tuned for the next post, all about Baby Step 1.

Claire.

2 thoughts on “Dave Ramsey- UK Baby Step 0”

Leave a Reply

Your email address will not be published. Required fields are marked *