[Anya]

My husband and I recently began the baby steps. We’ve completed step 1 and are now on step two. The goal is to have our debt paid off by December 2024. Our debt payoff date is based on recent events. We just got news that my job will only be paying our rent for the next two years, so it ends in August 2025.

We have decided to simultaneously pay off our debt and save at least $20,000 for a downpayment for a home by December 2024 so that we can begin building in January 2025.  We’re from a small island so buying a home is not an option on building.

I guess my question is can the steps be swapped seeing that the next step would be saving 3-6 months emergency funds given our situation. Does anyone have a better route we should take?

[Jacob]

Dave’s advice, I believe, is to follow the steps. Everyone thinks their situation is special, and it’s often not.

My suggestion would be to get gazelle intense and target finishing your FFEF before getting the house started. I’ve never built before, but everyone I know has dealt with huge cost overruns. I’d want my 3-6 months ready before dealing with the challenge of building.

[Michele]

You win at what you focus on… steps 1-3 should be done in order and separately. Save $1000, pay off all non mortgage debt then save a ffef then save for a home. Use gazelle intensity on these strips and you’ll do great!!! Step seven here retired at 47 my husband still does his side gig because he loves it! Good luck on your journey to financial peace.

[Cynthia]

Do not build a home with out an emergency fund.

[Lura]

Follow the steps. If that is your goal and you want it bad get super gazelle intense!!! Last thing you want is to be house poor. Don’t make it easy for Murphy to visit!

[Carlz]

Don’t 2 things at thr same time is not the baby steps and will not work the same. Aim to get your down payment in time by all means but do it by being intense, not by trying to do everything at once. Any money you save in BS2 will mean extra interested you need to pay. If you put a down-payment on a home before having an emergency fund Murphy WILL take you for a ride.

Go ONE step at a time.

Pick up 1, 2, 3 extra jobs. Work 90 hours a week so you have no time to spend money on anything but staying alive. Shovel ALL your money at your debt THEN Build your FFEF like your life depends on it.

Go, go, go! You can do it!

But plllleaassse don’t half ass it.

[Esperansa]

No. if you are following Dave Ramsey protocol pay off debt before you buy a house.

[Author]

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