How many Baby Steps are outlined in the savings plan?

The correct number of Baby Steps outlined in Dave Ramsey's savings plan is seven. These steps provide a clear roadmap for individuals looking to achieve financial security and independence. Each step builds on the previous one, offering a structured approach to managing finances, eliminating debt, and ultimately creating wealth.

The first step emphasizes establishing an emergency fund with a small amount of savings to prepare for unexpected expenses. The following steps guide individuals through paying off debt systematically, saving for larger goals like a home or retirement, and investing for the future. Each Baby Step is designed to instill financial discipline while promoting understanding of personal finance concepts.

Understanding these seven Baby Steps is crucial for anyone following Dave Ramsey’s financial principles, as they serve as the foundation for achieving financial wellbeing and security.