I just got done reading The Total Money Makeover by Dave Ramsey. I think that everyone should read the book. Basically it goes through how to pay off all your debt & never use credit again. Even if you choose not to use everything in the book I LOVE his budgeting worksheets. I checked the book out from the library but at some point would like to own the book.
For the holiday season all of Dave Ramsey's books, cds, dvds, etc are $10 on his website, www.daveramsey.com. that's 50-70% off great financial advice.
I know of some families that give the book as a gift & then get together to discuss it. What a wonderful gift to help give back financial freedom.
PS- At this point in my life I am choosing not to do everything that he suggests but it is one of the best financial books I have ever read... and I have read quite a few.
If you have read the book leave a comment to let us know what you thought....
4 comments:
We like Dave Ramsey a lot. We use cash for everything and don't have any credit cards at all and we follow his budgeting to zero. Has certainly helped us in the past few years!
We went thru Dave Ramsey's program 5 years ago and it changed our financial lives!! We haven't followed his program exactly but we were able to pay off over $6,000 worth of debt last year alone and we are a one income military family in Vegas. Highly recommend his program.
Although I enjoyed the book, and there were some good, basic tips in it for budgeting, Dave's explanations for some things eroded his credibility. For instance, the remark about a mugger not having x-ray vision to know if one is carrying cash or a credit card. Duh! However, if one is mugged of cash, the cash is gone forever. If one is mugged of a credit card, there's no financial loss at all. Another example, trying to discredit using credit cards for points/dollars back. Ransey states something to the effect of "I've never heard of a millionaire who got there with credit card points." I'm sure not, but it has definitely helped us get there. We've made $15k+ with points, buying things we would have bought anyway (groceries, gas, etc). And no, we didn't spend more because we were using a card, we use lists when we shop. All-in-all, I think this book and Ramsey's advice is good for the very financially unsophisticated folks who are deep in debt, but for the masses, not so much.
We have attended a class on this book and the strategies in it. We are adapting things a little to fit our situation for now, but feel that there is some great advice. Now just to stick with it.
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