DA BABY STEPS

You see this old man right here? He’s Dave Ramsey. He’s been getting folks out of debt since 1994. Why does he do that? Because he believes that debt is the best wealth building tool you have besides coming up with an awesome idea. And you know what? I believe him. Mainly because my momma accidentally taught me about his plan before he even got started. I want to share with you a concept he calls them the Baby Steps.

Step 1: Save $1000 for an Emergency Fund

Step 2: List your debts from smallest to largest no matter the interest rate

Step 3: Save 3 to 6 months of expenses for an Emergency Fund

Step 4: Save 15% of your total income in some sort of retirement account

Step 5: Save for college in a 529 or ESA

Step 6: Pay off your house.(Assuming you have one. If you don’t you save for one in between Step 3 and 4.

Step 7: Create Wealth (Mutual Funds, Other investments)

He has a book called The Total Money Makeover if you want more details on this concept but I fully endorse it. It frees your mind up from financial stuff so you can focus on other stuff. You can also use it to get you and your spouse on the same page about money. That’s it for Financial Friday. Thug Life!!

Most people know that going into medicine to get rich is a mistake in multiple dimensions. Unless you’re into writing ethically dubious diet books or making ethically dubious TV shows. But in the face of a potentially staggering physician shortage—the Association of American Medical Colleges warns of a deficit of 130,600 doctors by 2025—people who want to go into medicine (particularly primary care) have to envisage financial viability in their grand mission. At $51,000 before taxes, a doctor working 80 hours per week for 48 weeks per year earns $13.28 hourly.
—  A Junior Doctor’s Salary - The Atlantic
The truth about doctors’ salaries.
So we don’t have a debt crisis, and never did. Why did everyone important seem to think otherwise? To be fair, there has been some real good news about the long-run fiscal prospect, mainly from health care. But it’s hard to escape the sense that debt panic was promoted because it served a political purpose — that many people were pushing the notion of a debt crisis as a way to attack Social Security and Medicare. And they did immense damage along the way, diverting the nation’s attention from its real problems — crippling unemployment, deteriorating infrastructure and more — for years on end.
25 things to do before you turn 25.

1. Make peace with your parents. Whether you finally recognize that they actually have your best interests in mind or you forgive them for being flawed human beings, you can’t happily enter adulthood with that familial brand of resentment.

2. Kiss someone you think is out of your league; kiss models and med students and entrepreneurs with part-time lives in Dubai and don’t worry about if they’re going to call you afterward.

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3. Minimize your passivity.

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4. Work a service job to gain some understanding of how tipping works, how to keep your cool around assholes, how a few kind words can change someone’s day.

5. Recognize freedom as a 5:30 a.m. trip to the diner with a bunch of strangers you’ve just met.

6. Try not to beat yourself up over having obtained a ‘useless’ Bachelor’s Degree. Debt is hell, and things didn’t pan out quite like you expected, but you did get to go to college, and having a degree isn’t the worst thing in the world to have. We will figure this mess out, I think, probably; the point is you’re not worth less just because there hasn’t been an immediate pay off for going to school. Be patient, work with what you have, and remember that a lot of us are in this together.

7. If you’re employed in any capacity, open a savings account. You never know when you might be unemployed or in desperate need of getting away for a few days. Even $10 a week is $520 more a year than you would’ve had otherwise.

8. Make a habit of going outside, enjoying the light, relearning your friends, forgetting the internet.

9. Go on a 4-day, brunch-fueled bender.

10. Start a relationship with your crush by telling them that you want them. Directly. Like, look them in the face and say it to them. Say, I want you. I want to be with you.

11. Learn to say ‘no’ — to yourself. Don’t keep wearing high heels if you hate them; don’t keep smoking if you’re disgusted by the way you smell the morning after; stop wasting entire days on your couch if you’re going to complain about missing the sun.

12. Take time to revisit the places that made you who you are: the apartment you grew up in, your middle school, your hometown. These places may or may not be here forever; you definitely won’t be.

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13. Find a hobby that makes being alone feel lovely and empowering and like something to look forward to.

14. Learn to understand when you are jealous of someone else and realize it is a part of life, but you also are great in your own way.


15. Forget how a person should be.

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16. Identify your fears and instead of letting them dictate your every move, find and talk to people who have overcome them. Don’t settle for experiencing .000002% of what the world has to offer because you’re afraid of getting on a plane.

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17. Make a habit of cleaning up and letting go. Just because it fit at one point doesn’t mean you need to keep it forever — whether ‘it’ is your favorite pair of pants or your ex.

18. Stop hating yourself.

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19. Go out and watch that movie, read that book, listen to that band you already lied about watching, reading, listening to.

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20. Take advantage of health insurance while you have it.

21. Make a habit of telling people how you feel, whether it means writing a gushing fan-girl email to someone whose work you love or telling your boss why you deserve a raise.

22. Date someone who says, “I love you” first.

23. Leave the country under the premise of “finding yourself.” This will be unsuccessful. Places do not change people. Instead, do a lot of solo drinking, read a lot of books, have sex in dirty hostels, and come home when you start to miss it.

24. Buy one  insanely expensive outfit for nice events.

25. Quit that job that’s making you miserable, end the relationship that makes you act like a lunatic, lose the friend whose sole purpose in life is making you feel like you’re perpetually on the verge of vomiting. You’re young, you’re resilient, there are other jobs and relationships and friends if you’re patient and open.

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