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The Total Money Makeover: Book Review

Updated on October 19, 2014

Do You Struggle with Money?

Everyone wants your money. Choose wisely!
Everyone wants your money. Choose wisely! | Source

Managing Your Money Step by Step

Money management is a skill everyone should learn and it doesn't matter what you income is. It really doesn't matter what you make what does matter is how you handle that money.

Making More Money isn't the Answer

Even high income earners can get themselves into trouble. This is certainly evident by the raging credit card debt and the many reality television shows that help people get on top of their finances. It forever amazes me to see high income earners on these shows. If you don't spend and save consciously you can get yourself into a whole heap of trouble.

I struggled with finances and always felt like I wasn't getting anywhere, least of all ahead. I kept seeing references to "The Total Money Makeover" by Dave Ramsey in articles and books I was reading so I decided I needed to read this book and I was not disappointed.

Dave Ramsey is currently enjoying a career and income that supports a very comfortable lifestyle but this was not always the case. He has seen hard times in his life and he actually hit rock bottom and lost everything at one point. That is when he and his wife had to dig their way out of debt and back to leading a very comfortable life again, debt free. He passes his money management plan for success to you in his books.

What Dave Ramsey Believes

This is the premise of Dave's book - getting out of debt with a willingness to "live like no one else does now so that you can live like no one else later". In other words, give up those creature comforts by not going into debt to purchase them and stop saving and investing if you are in debt. Get rid of your debt first by starting with the smallest and ending with the largest; take one small step at a time.

Step by Step Advice

Dave Ramsey gives you step by step advice that is easy to follow and understand - all you need to do is stick to it and you will see results. I know I have. I am now well on my way to having a 3 month income cushion as an emergency fund. This is something Dave strongly recommends. I have never had this before and when emergencies came up I always had to go to the credit cards or my line of credit to pay for them. This creates a vicious cycle and I was stuck in this cycle most of my life. It's like a weight has been lifted off my shoulders knowing I can now pay cash for any unexpected life events.

The book goes through each step in logical order peppered with real life stories of people who have followed his advice and where it has taken them. I really enjoyed reading the stories it was quite inspiring. Dave is very motivating and encouraging and even if you think you don't have any extra money to pay down your debt - you do - and Dave will explain how to do it no matter what you earn. He just tells it like it is and is a straight talker. No fluff here at all!

Save your pennies
Save your pennies | Source

Will you read this book?

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If you buy this book you will not regret it. I struggled for a long time with my finances and now I can say after reading "The Total Money Makeover" by Dave Ramsey that I am well on my way to being financially secure. Yes, it's a great feeling!

The Total Money Makeover Workbook
The Total Money Makeover Workbook

This is the partner workbook for Total Money Makeover. I did not use the workbook but I believe it would come in handy for organizing the attack on your personal finances.

 
Financial Peace Revisited: New Chapters on Marriage, Singles, Kids and Families
Financial Peace Revisited: New Chapters on Marriage, Singles, Kids and Families

A new and updated version of the Financial Peace Book. This book was referred to in Total Money Makeover many times so I think it is worth a read.

 

Do You Live on a Budget?

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Take The First Step

There are many financial books on the market some are very focused on investing. Investing is the last step in this book and it makes total sense. Keep in mind that investment gurus have their own agenda and that is to make their money off of you! Before heading down the investment path you have to have money to invest. Dave's method is very simple with straight up advice on how to get from where you are now to where you want to be.

Many of you may think that you cannot possibly squeeze any more money out of your budget to address you debt problem but you can. Dave will get you there. You may have to start very small but every journey worth taking starts with only one small step. Once you get momentum there is not turning back. Dave's "snowball" gets rolling and there is no stopping it.

The only thing that might come between you and your financial freedom is you! You must stick to it and believe that you will get there. His plan is designed around small successes that are very motivational and will keep you on track.

Once you get there, it is all smooth sailing! You can enjoy life without financial worries. Now who doesn't want that kind of life?

Financial Smooth Sailing
Financial Smooth Sailing | Source

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    • jimconrad2 profile image

      jimconrad2 4 years ago

      Too bad I didn't discover this book 20 years ago. Great information and lens.