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Living paycheck to paycheck without a plan for your money will trap you in a never-ending cycle of money stress. It’s time to take control—and the first step is saving $1,000 for a starter emergency fund.

Why? Because life happens.

A baseball shatters your window. Your car tire goes flat. Without cash in the bank, moments like this can turn into debt nightmares.

Next, it’s time to get intense about paying off debt. Get rid of your credit cards and loans (except the mortgage) using the debt snowball method.

“Buy now, pay later” is a scam and keeps you broke. Get debt out of your life! And pause any investing for now (don’t worry, we’ll come back to it later!).

List your debts from smallest to largest, and make minimum payments on everything but the smallest one—attack that one with intensity. When it’s paid off, roll that payment into the next debt and repeat until you’re debt-free. 

No matter what type of debt you have, we’ve got the tools to help you get rid of it for good.

Picture this: You made your last debt payment. You’re debt-free!

And yes, you’re celebrating because every dime you earn is now yours. It’s time to make sure you never shackle yourself to debt again—by saving a fully funded emergency fund of 3–6 months of expenses as a safety net.

Temporary job loss? Covered. AC dies in July? No sweat. Money stress doesn’t stand a chance when you’re debt-free and have a big rainy day fund. 

If you’ve been worried about saving for retirement, this step is for you. With zero debt and a cushy emergency fund, you’re ready to invest 15% of your income and build lasting wealth.

The most important thing to remember: There’s no such thing as getting rich quick. Slow and steady wins the race.

It's time to start stacking cash for your kids’ college fund.

But why do this after you start saving for retirement? Because your kids might not go to college, but you’ll definitely retire. Prioritizing your future isn’t selfish—it’s smart.

Once your retirement is on track, open an Education Savings Account (ESA) or 529 college savings fund. And by tapping into grants, scholarships and a savings plan, you and your future graduates won’t have to borrow a dime.

Imagine how it would feel for your home to be 100% yours—no mortgage payment, just freedom.

Baby Step 6 is where you focus on paying off your home early. When you’re intentional about attacking your mortgage, you can pay it off in 10 years or less—that’s what millionaires do.

And you’re on your way to Baby Steps Millionaire status!

This is the dream—total financial peace!

Your home is paid off, you have zero debt, and your money is working for you. The grass in your front yard even feels different when you own it free and clear! You know what you can do when you don’t have debt? Anything you want!

This is the ultimate goal of the Baby Steps: to live and give like no one else.

Your hard work has put you on track to keep building wealth and be outrageously generous to causes that matter to you—all while leaving an inheritance for your kids and their kids. That’s a legacy that will last.

• Compound interest is the interest you gain on your original investment (the principal) plus any interest you’ve already made. Albert Einstein reportedly called it the “eighth wonder of the world” because of its powerful ability to build wealth over time.
• Compound interest helps your money grow exponentially when you invest it. But when you’re in debt—like with credit cards or loans—the interest compounds against you, increasing what you owe and making it harder to get out of debt.
• Time is the most crucial factor for growth. The longer you let your money stay invested, the more it grows. The number of compounding periods—which can be daily, weekly or yearly—determines how fast your investment grows. Starting to invest as early as possible is a key strategy.
• To benefit from compounding, you have to get out of debt first. It’s simple: You want to be earning interest, not paying it. Getting out of debt before you start investing is a fundamental principle for building wealth.