Core Viewpoint - The "7 Baby Steps" by Dave Ramsey remain effective in helping individuals manage debt and build wealth despite criticisms regarding their relevance in today's economic climate [2][4]. Group 1: Current Economic Context - As of Q2 2025, U.S. household debt is reported at $18.39 trillion, with $1.21 trillion attributed to credit card debt, highlighting the urgent need for effective debt management solutions [3]. Group 2: Baby Steps Overview - The first baby step involves saving a $1,000 starter emergency fund, which is criticized for being insufficient for modern emergencies, but serves to instill a saving habit and provide a psychological boost [5]. - The debt snowball method, which focuses on paying off debts from the smallest to the largest balance, is emphasized for its ability to create momentum and maintain commitment during the debt repayment process [7]. - Subsequent baby steps include establishing a larger emergency fund covering six to twelve months of expenses, investing for long-term wealth, funding children's education, paying off the mortgage, and living generously, all of which are still deemed relevant [8].