Learning how to start a financial freedom journey

At the beginning of May of 2018, I found myself sitting in a coffee shop with my friend Sara. She had told me about how she felt about her finances and how it was affecting her. She felt her financial situation was making it impossible to fulfill her dreams.

Right there and then, I started thinking about my situation and how I could help her using my own experience.

The fact was she had a dramatic situation with her finances (school debt and credit cards). I immediately recommended her to follow the baby steps for financial freedom suggested by Dave Ramsey.

He is a famous financial coach that developed a guide to be financially free following seven basics baby steps. these are some of my favorites:

1- Save $1.000 for your started emergency fund
2-Pay off all your debt (except the house) using the debt snowball method
3-Save 3–6 months of expenses in an emergency fund
4- Pay of your home debt early
5-Build wealth and give some

Sara heard me and she started to apply the second baby step where she was going to attack her debt with the “ Debt Snowball method” in order to build her finance freedom.

You might be asking what is the debt snowball method? It is a strategy to put in order your finances and let you knock out your debts one by one.
Sara followed these steps:

a) Make a list of their debt from smallest to largest
b) Make minimum payments the largest debts.
c) Pay as must as possible on their smallest debt
d) Repeat until each debt is paid full.

Two years later following those steps, Sara has been capable to cut off at 80% of her debt and she has been started to save some money to build her emergency fund.

Now she is feeling stronger and confident with her finances and she is starting to recommend these steps to her friends that are going through with a similar situation.
Remember the financial freedom is a different journey for each one. Dave Ramsey’s baby steps worked for me and for Sara. Never is it late to take action to clean and search for financial freedom in our lives.
Search for information in a book, internet, or blogs. I can recommend some but like Sara, all is up to you. What are you waiting for?