You won't find anything Earth shattering in this book. It's a very formulaic approach to paying off your debt and saving for retirement and college. On a personal note, my husband and I are pretty lucky, we don't have any credit card debt. We only have one little credit card that we pay off every two weeks. We have other debt, of course, but well... let's just say that we learned our lesson early in our marriage - did you know that bars in Hawaii take credit cards? Or that you shouldn't finance home improvements on a money pit house on a credit card? Yeah. We, of course, have other debt.
But.. I think this book did teach me a few things about how to figure out how to invest for retirement (I appear to be doing half of it, yay!) and college for the kids (not so much).
I won't be doing anything crazy like selling my cars, we'd only break even on them and frankly, I am not willing to give those up. Plus let's assume you don't have the cash to buy a beater car to drive. You sell your car. Then what? I was disturbed that he left some parts out of this first baby step. As I said, I'm just not willing to give up my minivan and I'd be risking my life if I even suggested selling my husband's PT Cruiser.
BUT I think if someone has gotten themselves in serious hot water, this is a great book to help them "go drastic" and get themselves out. I'll be putting some of his ideas into place in our lives to better fit who we are - and I figure if we go for it, we can probably be debt free (except for the house) in a few years, which is completely acceptable to me.
The only part of the book I didn't like is the scripture and god references. I think it was necessary, but everyone is entitled to write/believe as they wish.
As with any finance book, take what you need/want from it. I took away a lot of good from it and will leave some on the table for others to pick through :)
This is the first book I've read that thows away the fancy models, throws out all of the silly advice your broke friends have given you, and simplifies financing down to easy, understandable concepts. This book isn't for people looking to get rich quick. If you're looking for a high-risk big payback scheme, move on. If you're looking to build a financial future based on solid, time-tested concepts, this book will change your life. It shows you a clear path to financial success based … more
I am so tired of counseling people who ask me questions such as "how do I finance this car?" or "should I refinance my mortgage so I can have more money each month?" Debt is a bad deal. All of it. And you can live life without it if you are willing to not be as flashy as your debt ridden neighbors for a season as you put yourself on financial track. These are the core principles of Dave Ramsey...using common sense combined with patience resulting in good cash accumulation and … more
This book changed my financial destiny. Dave Ramsey is doing a great service to humanity. This book has a clear cut plan for getting out of debt and building wealth. Americans have bought into the whole debt thing hook line and sinker and it is a shame. Dave has some really nice success stories throughout this book from people who have followed his advice and gotten their financial lives back on track. Dave Ramsey is America's most trusted Money Man and you will … more
This was a very good book but I found that the information only works if you have money to work with. For example, you have money but are just living beyond your means. But if you are already broke, you will find it very difficult to apply these to your life. That is my opinion.
Dave Ramsey calls his book "The Total Money Makeover" "A Proven Plan for financial Fitness" and that's exactly what it is. The book is simple, straightforward, and full of sound financial advice accompanied with motivating stories of people who followed Ramsey's advice and achieved financial success. Some have achieved greatness, while others are still on their way, but all are in much better shape than they had been, and all give credit to Ramsey and his common sense approach to getting out of … more
Like many Americans, I was caught up in the trap of managing debt instead of managing money. Treading water and wondering why I wasn't getting ahead I mostly tried to forget about my debt issues and just get on with things. I had a feeling something wasn't right, but I dismissed it so's not to deal with it. A friend showed me TTMM over lunch one day. I read part of the introduction and a few of the testimonials inside and I was hooked. I bought the book that day, sat down with my wife … more
I earn more than my parents *ever* did, and more than I ever dreamed possible growing up. But when I look at the bank accounts and bills, it certainly doesn't seem that way. I had the opportunity to read The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey. No gimmicks, no tricks, and it may be just what I need to get things in order... Contents: The Total Money Makeover Challenge; Denial; Debt Myths; Money Myths; Two More Hurdles; Save $1000 Fast; … more
I'm the owner of OffAssist, a virtual bookkeeping company. I like what I do, most of the time ;) - My husband and I got married in '93, we have 2 kids born in 2000 and 2003. I truly love my life. … more
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Radio talk-show host and bestselling author Ramsey (Financial Peace) is less a financial analyst and more of a preacher, which explains both his popularity and the appeal of this book, which just might gain a wide audience. The bedrock of his system is simple: work hard, pay what you owe and stay out of debt. His main commandment is "Pay cash." He first exhorts the reader to take "baby steps," which are designed to build on each other: first, save $1,000 as an emergency fund; then, pay off all debts from smallest to largest; save a larger three-to-six-month emergency fund; finally, start to save for college and pay off your home mortgage. Ramsey understands the difficulty in putting these steps into action, and therefore packs his book with personal testimonials from everyday people who have used his system and have become debt free, with obvious struggles. The key is what Ramsey calls "Gazelle intensity," which is to live a financial life the way a gazelle saves itself from an attacking cheetah-"outmaneuver the enemy and run for your life." While Ramsey provides some helpful charts and graphs so readers can keep track of their efforts to follow his steps, the strength of this book is that it is a straightforward motivational tool. He provides the brutally direct truth about the hard work it takes to become free of debt, and his directness is a great part of the book's charm. Copyright 2003 Reed Business Information, Inc.