Does Dave Ramsey Baby Step 6 Still Make Sense

Does paying off your home early make sense?

In this video, we will be discussing if Dave Ramsey baby step number 6, which is to pay off your home early still makes sense. I go over the math at various home interest rates. The questions people have been asking themselves if I refinance to a low-interest rate, does it still make sense to pay off their home? At what interest rate does it make sense to pay off your home early? These are all topics we will discuss.

If you are not familiar with Dave Ramsey Baby Steps here they are:

Baby Step 1: Save $1,000 for Your Starter Emergency Fund
Baby Step 2: Pay Off All Debt (Except the House) Using the Debt Snowball
Baby Step 3: Save 3–6 Months of Expenses in a Fully Funded Emergency Fund
Baby Step 4: Invest 15% of Your Household Income in Retirement
Baby Step 5: Save for Your Children’s College Fund
Baby Step 6: Pay Off Your Home Early
Baby Step 7: Build Wealth and Give

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