Dave Ramsey’s Baby Steps for Smart Women

by financialmom

in Debt, Emergency Fund, Financial Peace University, For Women Only, Giving, Money

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My husband and I have taken Dave Ramsey’s Financial Peace University class, and I am now leading the class at my church.  Women certainly understand babies, and we love steps to follow.  I thought it would be fun to look at Dave’s Seven Baby Steps to financial freedom from a woman’s point of view icon smile Dave Ramseys Baby Steps for Smart Women .

Emergency Fund

Women need at least $1000 in an easily accessible savings account. That way we can call the plumber right away when a pipe bursts, instead of allowing our husband to try to fix it first. Thus avoiding the bigger emergency our husband creates, and having to put the whole bill on plastic.


Women do not deserve the bad rap of causing big debt from our shopping. After all, there is the truck, sports equipment, hunting gear, tickets for sporting events, boat, mid-life crisis car – and the required attire for all of these things.  Men love to shop too – it’s just different stuff.

3-6 Months Savings

Women place a great importance on our home. We are willing to do just about anything to make sure we don’t lose it in a financial crisis.  Even saving 3-6 months of household expenses so the mortgage is paid.


Today, a woman’s idea of retirement is not sitting in the rocking chair on the porch. We want to do things.  And we want choices about what things we do.  So we are more than willing to save 15% of our income consistently for retirement.


Women love their kids to death. What we don’t love is co-signing college loans, and putting our own retirement at risk when the loans aren’t paid.  It’s much easier to save for college in advance, and forget the loans altogether.

Pay Off Home Early

For most women, this seems like a pipe dream. But we are willing to work hard at paying our home off early.  We understand our home represents security to us.  Then we can save for the dream home we really want.

Build Wealth & Give

Women are caregivers – to family, friends, even strangers on occasion. What more fun can we have than to give money away?  Especially to build God’s kingdom.  So much fun we are willing to do the tough work of all the other steps first.  Then we can get to the real joy sooner.  Women rock at following the directions of a great plan.

I highly recommend Dave Ramsey’s Financial Peace University to get your finances on the right track, with your priorities in the right order.  This class should be required pre-marital counseling. We sure wish we had known all these things before we were married!  It would have saved us a lot of money mistakes.

New Profile Pic 2599R Dave Ramseys Baby Steps for Smart WomenPamela Otten is CEO of Pamela Otten LLC, a Registered Investment Advisor. She loves to work with women business owners and entrepreneurs, and women in transition due to job change, death, or divorce. Pamela will help you set and reach your financial goals, educate you to understand your investments, and teach you how to do more charitable giving. Pamela is a Qualified Kingdom Advisor (www.kingdomadvisors.org), trained and committed to integrating biblical principles with her investment advice.

cc smallest Dave Ramseys Baby Steps for Smart WomenPhoto Credit - fandayou_0088

Financial Planning, Investment Advice, and Investment Management provided through Pamela Otten LLC, Registered Investment Advisor.


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{ 3 comments… read them below or add one }

Lori May 2, 2011 at 7:46 pm

I am a big fan of Dave Ramsey. He gives a lot of great advice and I love his no-nonsense approach.
Lori´s last [type] ..Mothers Day 2011 Gift Ideas


Olga Hermans May 2, 2011 at 9:28 pm

Yes, Dave Ramsey has a lot of favor. He is a great teacher on finances. Your post is great reflection of all you learned. You probably were a good student. Thanks!
Olga Hermans´s last [type] ..15 Guidelines To Beat Self-Doubt


Paul Crowson May 3, 2011 at 5:51 pm

We have done a lot of Dave Ramsey training, outside of our church, they subscribed to Crown Financial, anyway I think we need to revisit Dave because of you Pamela…. thanks!!!


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