In reading this book, I have found several insightful hints for managing my money. Dave Ramsey emphasizes the importance of budgeting, saving, and paying off debt. He also reiterates the necessity of controlling our money instead of allowing our money to control us.
There are seven "baby steps" that Dave Ramsey recommends in order to become financially independent:
Step 1: save $1,000 to start an emergency fund.
Step 2: pay off all debt using the "Debt Snowball."
Step 3: save 3 to 6 months of expenses.
Step 4: invest 15% of household income into Roth IRAs and pre-tax retirement.
Step 5: start saving college funds for children.
Step 6: pay off your home early.
Step 7: build wealth and give.
Even though I am barely into Step 2, I have found that these tips help in avoiding the attainment of new debt.