How Baby Steps Millionaires Pulled Me Out of Financial Rock Bottom
You know that feeling when you think you’re doing everything right with money, but somehow you keep ending up at zero? That was me. And if you’re reading this at 2 AM because you can’t sleep worrying about bills, I see you. I’ve been there.
I Thought I Was Good With Money
Here’s the ironic part: I was always the “good saver.” From childhood, every euro my parents or grandparents gave me went straight into my piggy bank. I had big dreams but also big fears—the kind that whisper at 3 AM that you’ll never be able to buy a house on your own, that financial security is for other people.
When I started working, I did what I thought responsible adults did. I saved aggressively. I opened four investment insurance policies because that’s what “smart people” did, right? I genuinely believed I was well-educated about finance.
But here’s what nobody tells you: knowing the basics and actually following through are two completely different things.
When Life Happens to Your Plans
Life had other ideas. A move to London for a fresh start meant I needed cash—so I cashed out one policy and watched my investments evaporate with early withdrawal penalties. Another move to Spain, another insurance policy liquidated. One by one, I used up everything I’d built, in ways they were never supposed to be used.
Fast forward to last year, and I finally had to face the truth: I was broke. Again.
Rock Bottom Has a Smell (It’s Panic Mixed With Failure)
I’m a freelancer. I have a 3.5-year-old son. For the first 2.5 years of his life, he didn’t go to nursery, which meant I worked during his naps and through the nights. As he grew, those daytime naps got shorter and shorter. My working hours shrank dramatically. Then my projects started drying up.
By August 2024, I hit a wall I never thought I’d face: I couldn’t pay my Social Security contributions. I had to pause my freelance status.
I was devastated. I needed a miracle.
In desperation, I cashed out my last insurance policy and tried to start a business. But I wasn’t in the right mental state. I don’t think I had depression, but I had a massive burnout. Everything felt impossible.
The Turning Point
September brought a trickle of work. I restarted my freelance status. By November, a bigger client came through, and suddenly I could work longer hours again. The mental fog started lifting along with the financial pressure.
But I knew something had to change fundamentally. I couldn’t keep riding this roller coaster.
That’s when I found Dave Ramsey’s “Baby Steps Millionaires.”
I know what you’re thinking: “Millionaires? I can’t even pay my bills on time.” That’s exactly what I thought. The word “millionaire” felt like a cruel joke when I was struggling to make ends meet.
But here’s the genius of it: he breaks it down into baby steps. Actual baby steps that anyone can take, no matter how broke you are.
The Baby Steps That Changed Everything
Let me be real with you: I’m not a millionaire. I’m not even close. But for the first time in my adult life, I’m not scared every time I look at my bank account.
After a year of following these steps, here’s where I am:
✓ Step 1 Complete: I have a $1,000 emergency fund. It’s sitting there, untouched, like a security blanket for my sanity.
✓ Step 2 Complete: All my debt (except mortgage) is paid off. This one changed my life. No more drowning in payments.
→ Step 3 In Progress: I’m building 3-6 months of expenses in savings. This will take me another 1-2 years, and that’s okay. I’m not in a race anymore.
Steps 4-7 Waiting: Investing 15% for retirement, college funding for my son, paying off mortgage early, building wealth and giving—these are my future, and for the first time, I believe I’ll get there.
What Nobody Tells You About “Shiny Objects”
Here’s what I learned the hard way: we’re surrounded by shiny objects. That new handbag. The latest phone. The subscription we don’t really use. The “investment opportunity” that sounds too good to be true (because it is).
I used to chase those shiny things, thinking they’d make me feel successful or secure. They didn’t. They just left me with less money and the same anxiety.
A controlled financial lifestyle doesn’t mean deprivation. It means living a decent life without risking everything all the time. It means being able to sleep at night.
The Lesson That Hit Hardest
The biggest revelation? You need separate buckets of money. An emergency fund for actual emergencies (not “I really want this” emergencies). And investments that you don’t touch for retirement, no matter what life throws at you.
When I was cashing out those insurance policies for life transitions, I thought I had no choice. But if I’d had a proper emergency fund, I wouldn’t have destroyed my long-term investments for short-term needs.
Why I’m Sharing This With You
I’ve talked to so many women our age, and the stories are heartbreakingly similar. They got married, had kids, stayed home with the children. The husband worked and controlled the money. These women found themselves stuck in relationships where they couldn’t see a way out—financially trapped.
Many went back to work specifically to have their own money, to start planning their escape. But managing finances while trying to rebuild your independence? It’s incredibly difficult.
If that’s you, the baby steps can help you find your way too.
Where I Am Now (And Why There’s Hope)
I’m still a work in progress. My income as a freelancer isn’t stable or predictable. I have a young son depending on me. I’m building everything from scratch in my early 40s.
But I’m not scared anymore. Not the way I was.
I have a plan. I have systems. I have baby steps that work even when life doesn’t cooperate.
Last year at this time, I was mentally and financially at my lowest point. Today, I have an emergency fund, no debt, and I’m building savings. That might not sound like much, but to me? It’s everything.
If You’re Where I Was
Maybe you’re reading this at 2 AM, wondering how you’ll make it through another month. Maybe you’re tired of the cycle of saving and losing, building and breaking. Maybe you feel like you should know better, like you should have it all figured out by now.
I get it. I’ve been there. Actually, I’ve been there multiple times because I kept making the same mistakes.
But here’s what I want you to know: it’s not too late. Your 40s aren’t too late. Being broke isn’t permanent. Financial education without action is just theory, but action without a plan is just chaos.
Dave Ramsey’s Baby Steps Millionaires gave me both the plan and the permission to start small. Really small. $1,000 small.
And that was enough to begin changing everything.
If you want to learn more about these steps, I genuinely recommend reading “Baby Steps Millionaires: How Ordinary People Built Extraordinary Wealth—And How You Can Too” by Dave Ramsey. It’s the book that helped me climb out when I thought I was stuck at the bottom.
You’ve got this. One baby step at a time.
