[TexasGurl24]

That’s a rough version of the Ramsey plan.

1. Save 1000.
2. Throw everything outside of that 1000 to your debts, starting with the smallest to largest. Pay off everything except the house.
3. Save 3-6 months of expenses in an emergency fund.

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The next three are done together.
4. Pay for kids college.
5. Save 15% of your gross income for retirement in good mutual funds.
6. Pay down the debt on the house.

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7. Give generously and build wealth.

[Alberta's Child]

After listening to Dave Ramsey and some other financial advisors for a long time, I decided that Ramsey is probably wrong on one key point. Paying off your home may not be a good idea for most people. I think Ric Edelman is right on this one: The way our tax code and our financial system is set up in the U.S., owning a home worth hundreds of thousands of dollars free and clear is a terrible idea if you can afford to carry a mortgage on it.

[Starboard]

Pay for kids college.

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But don’t overpay for it. Its not worth it IMO.

While education is important there are a lot of other factors that determine success in life.