Hey friends, welcome back to Mom With a Plan 💕
Today, we’re talking about one of my favorite topics — financial freedom.
If you’ve ever felt overwhelmed by debt, bills, or just trying to make ends meet as a mom, you’re not alone. I’ve been there too — and I’m on a journey to change that one baby step at a time.
Dave Ramsey’s 10 Baby Steps are one of the best-known guides to getting out of debt and building real wealth. And let me tell you, they work when you actually follow them.
So let’s break them down 👇
1. Save $1,000 for a Starter Emergency Fund
Before paying off debt, start with a small safety cushion — $1,000. This keeps you from relying on credit cards when life happens (because it will).
💡 Tip: I set mine up in a high-yield savings account separate from my checking account so I’m not tempted to touch it.
2. Pay Off All Debt (Except the House) Using the Debt Snowball
List your debts from smallest to largest and attack them one by one. These are anything from credit card debt to loans and mortgage. The small wins keep you motivated! Keep making minimum payment on all of your debts but that smallest one gets the most attention. And yes, lets forget about the interest rate.
This is the most intense step. Here you will find, side jobs, things you can sell, extra hours at work. This is the hardest one but remember this is just a season and there is an end at the end of the tunnel
💬 I’m currently in this step and tracking my progress in a printable debt tracker (which I’ll share soon!).
3. Save 3–6 Months of Expenses for Emergencies
Once your debt is gone, it’s time to build a real safety net. Think: job loss, car repairs, or unexpected medical bills.
🍼 For moms, this step brings so much peace of mind knowing your family is covered no matter what.
4. Invest 15% of Your Income for Retirement
Now that you’re stable, it’s time to plan for your future. Even if you’re a stay-at-home mom, you can invest through a spousal IRA or other long-term accounts.
5. Save for Your Kids’ College Fund
Start small! Even a little bit each month adds up over time.
6. Pay Off Your Home Early
This one’s huge. Imagine owning your home completely — no mortgage, no rent. That’s true freedom.
7. Build Wealth and Give Generously
Once you’re debt-free and financially secure, it’s time to focus on building legacy wealth — and giving back to others.
8. Create Multiple Income Streams
While not part of Ramsey’s official plan, I’ve added this one because as moms, we need flexibility.
For me, that looks like my blog, UGC work, and affiliate partnerships (like my Daily Dose Coffee ☕ — you can check it out here for a clean, energy-boosting blend that helps me start my mornings strong!).
9. Live Below Your Means
It’s not about restriction — it’s about freedom. The less you owe, the more you own.
10. Teach Your Kids About Money
This one’s the legacy step. It’s not just about money — it’s about showing your kids healthy habits, discipline, and purpose.
💬 Final Thoughts
These steps aren’t a sprint — they’re a journey.
I’m currently working through them, one step (and one cup of mushroom coffee) at a time.
If you’re on your own financial freedom journey, comment below or share which step you’re on! Let’s encourage each other and grow together 🤍
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