On Stewardship, Idolatry, and Dave Ramsey

Money

For many American Christians, if the Bible had an appendix, it would include a few books by Dave Ramsey. The personal-finance guru and creator of Financial Peace University is immensely popular, and rightly so. Ramsey’s practical advice has helped countless families get back on their feet after financial difficulties, or simply avoid financial difficulties in the first place. I have personally suggested Ramsey’s material to families and will do so again, but I always do so with an important caveat—because as helpful as Dave Ramsey’s advice is, any good financial self-help program carries with it very real dangers.

Ramsey’s 7 Baby Steps to Financial Freedom offer a good snapshot of the counsel he offers:

BABY STEP 1 – Save $1,000 to start an emergency fund
BABY STEP 2 – Pay off all debt using the debt snowball method
BABY STEP 3 – Save 3 to 6 months of expenses for emergencies
BABY STEP 4 – Invest 15% of your household income into Roth IRAs and pre-tax retirement funds
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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