In Light of the State of the Economy -- A Comparison of Dave Ramey and Crown Financial

Dave Ramsey's Baby Steps

• $1,000 to start an Emergency Fund
• Pay off all debt using the Debt Snowball
• 3 to 6 months of expenses in savings
• Invest 15% of household income into Roth IRAs and pre-tax retirement
• College funding for children
• Pay off home early
• Build wealth and give!

Crown Financial's Roadmap

• Emergency Fund
• Pay off Credit Cards
• Pay off Consumer Debt
• Save for Major Purchases
• Buy a Home and Begin Investing
• Home Mortgage Paid Off
• True Financial Freedom

John Wesley

• We ought to gain all we can gain but this it is certain we ought not to do; we ought not to gain money at the expense of life, nor at the expense of our health.
• Do not throw the precious talent into the sea.
• Having, First, gained all you can, and, Secondly saved all you can, Then "give all you can."

Of course, I like Wesley. He's the one who lived off of 20 pounds a year the majority of his life and gave away all that he earned or was given beyond that as soon as he could so that it could not grow close to his heart.

I like the way that Dave Ramsey lays out his Baby Steps. I like Crown Financial's online roadmap. I think basically it comes down to this: just do it. It doesn't matter which of these systems you use -- just do it. Dave Ramsey's and Crown Financial's plans are very similar -- you just have to do it. Dave does not stress the will of God or scripture the way Crown Financial does -- but you still have to just do it. Wesley's sermon strikes a chord with me -- but you still just have to do it.

Get the point?