My wife and I have been following the Dave Ramsey plan now for about 2 years. We have recently completed the "debt snowball" aka baby step #2, and are now debt free except for the house! No more student loans, no more credit card payments, no more car payments!
We now have our finances in enough order that my wife can stay at home and we can still live comfortably. And we're planning a Florida vacation this fall for which we will pay CASH for. As Dave would say...very cool.