"The Total Money Makeover" by Dave Ramsey
If you will live like no one else,
later you can LIVE like no one else.
Build up your money muscles with America's favorite finance coach.
Okay, folks, do you want to turn those fat and flabby expenses into well-toned budget? Do you want to transform your sad and skinny little bank account into a bulked-up cash machine? Then get with the program, people. There's one sure way to whip your finances into shape, and that's with "The Total Money Makeover!"
This is from the back of the dust jacket of the book and if are thinking it reads more like a self help book than a book on finances well I would agree. The total money makeover reads more like a self help book than your typical book on finance. But that is one of the appeals of this book. You don't get so bogged down in technical jargon like you do in some financial books that you just want throw the book out the window.
The book is filled with stories of other peoples success. How they learned how to get control of their finances and tame the debt beast. The first few chapters cover Debt Myths and Money Myths along with the issue of why we should not try and keep up with the Joneses.
Next Dave covers what he calls his seven step to getting out of debt and financial peace.
1. $1,000 to start an emergency fund - first step is to save $1,000 in an emergency fund because rainy days will come
2. Debt Snowball - Pay off all Debt using the Debt Snowball - pay off the smallest debt first, pay minimum on all accounts expect what you own least amount to and pay as much to that account as possible until paid off - then apply what you have spent on that account to next smallest account
3. 3 to 6 months of expenses in emergency savings - after paying off all debts built emergency savings
4. Invest 15% of household income into Roth IRAs and pre-Tax retirement fund
5. College funding for children
6. Pay off your house early
7. Build wealth and give
If you are looking for a technical guide on how to invest money this is not the book for you. If you are looking for a motivating book on how to get out of debt and stay out of debt in today's World this is the book you want to pick up and read. Dave Ramsey also has a radio show and is well respected in the financial world. He has helped millions of people secede with getting out of debt. I wish I had been turned on to this book 3 years ago when I started working on my debt situation because I think I would be out of debt by know. I changed the way I was paying off my debts when I started reading this book and have shaved off several months on my debt being cleared. So if you are living in Debt pick up this book and give Dave a try.
This is from the back of the dust jacket of the book and if are thinking it reads more like a self help book than a book on finances well I would agree. The total money makeover reads more like a self help book than your typical book on finance. But that is one of the appeals of this book. You don't get so bogged down in technical jargon like you do in some financial books that you just want throw the book out the window.
The book is filled with stories of other peoples success. How they learned how to get control of their finances and tame the debt beast. The first few chapters cover Debt Myths and Money Myths along with the issue of why we should not try and keep up with the Joneses.
Next Dave covers what he calls his seven step to getting out of debt and financial peace.
1. $1,000 to start an emergency fund - first step is to save $1,000 in an emergency fund because rainy days will come
2. Debt Snowball - Pay off all Debt using the Debt Snowball - pay off the smallest debt first, pay minimum on all accounts expect what you own least amount to and pay as much to that account as possible until paid off - then apply what you have spent on that account to next smallest account
3. 3 to 6 months of expenses in emergency savings - after paying off all debts built emergency savings
4. Invest 15% of household income into Roth IRAs and pre-Tax retirement fund
5. College funding for children
6. Pay off your house early
7. Build wealth and give
If you are looking for a technical guide on how to invest money this is not the book for you. If you are looking for a motivating book on how to get out of debt and stay out of debt in today's World this is the book you want to pick up and read. Dave Ramsey also has a radio show and is well respected in the financial world. He has helped millions of people secede with getting out of debt. I wish I had been turned on to this book 3 years ago when I started working on my debt situation because I think I would be out of debt by know. I changed the way I was paying off my debts when I started reading this book and have shaved off several months on my debt being cleared. So if you are living in Debt pick up this book and give Dave a try.
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