What is the fifth Baby Step in Dave Ramsey's plan?

In Dave Ramsey's financial plan, the fifth Baby Step is focused on saving for your children's college fund. This step comes after completing the previous four steps, which include building an emergency fund, getting out of debt, and saving for retirement. By the fifth step, individuals have typically established a solid financial foundation.

Saving for children's education is a proactive measure that helps parents prepare for future expenses associated with college. It emphasizes the importance of planning ahead and ensuring that children have the opportunity to pursue higher education without the burden of significant debt. This approach aligns with Ramsey's principles of financial responsibility and long-term planning, empowering families to make informed decisions about education funding.

The other choices reflect various aspects of personal finance but do not capture the essence of the fifth Baby Step, which is specifically centered on college savings.