Well, hey you guys. So today we're going to go back in time. We have a little story time

with Rachel because I thought it would be really interesting to talk through kind of the history,

the backstory of the Ramsey Baby Steps. We talk about the baby steps so much on this show

because it really is the plan that we use, the filter we use when it comes to talking about

your money on a really tactical level. Now, if you've not heard of the Ramsey Baby Steps,

there's seven steps that are the basics of personal finance that you do in order, everything

from paying off debt to saving,

investing, kids' college, paying your house off, all of it. So if you've ever wondered like

where they came from, again, we're going to kind of just give you a little deep dive into it.

Because I think it does give you some perspective. And it's interesting, too, that these

steps have stayed the same pretty much since the beginning. So this all started back in

1988 when Dave and Sharon Ramsey filed for bankruptcy. Dun dun dun. So long story short,

dad was in real estate, was doing flips. So he would, you know, take money from the bank,

do a flip, make more on it, pay off the loan, have money,

go get another loan, do the same thing. But he was doing that like 20, 30 properties at a time.

And then what can happen, it doesn't happen often, but it did. One bank can look down and say,

wow, this guy has a lot of debt out and he's young, feels like a lot of risk. We just want all of our money

back. So they do a thing called, they call your notes. And that's what happened. So it took about 90

days and it was to pay back like, I don't know, millions of one point something million dollars

in debt. That was all tied up in real estate. So he had to go and try to sell real estate when you try to

sell real estate fast because you're in a pinch like old Davey was. Then you sell it usually for

cheaper and you've got to get it through quick. And so there wasn't enough money coming in after it

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