dave ramsey book the total money makeover

If you want to help a friend or relative, give them money as a gift. Ramsey rightly asserts that whenever money is loaned to a relative or friend, a master-slave relationship dynamic is created. One of the most valuable sections is on relationships and debt. Specific technical advice is given, notably about how to negotiate better mortgages, which types of savings/investment instruments to use, and the reasons why certain money myths still exist. He also spends significant time relating how society (especially in the West) tends to glorify and/or encourage certain types of unwise financial behavior, particularly the use of credit. Your friends and family will participate in your fantasy/denial, which makes you believe you are doing just fine. Ramsey makes good points about the difficulty people can have in identifying a lack of sound personal finance management, and the danger this presents. Despite that harsh critique, I still think the book is worth the money, and would recommend it. I'd argue that it was a way to pad out what could have been a 30 page ebook. For a certain kind of reader, this probably makes the book more heart-warming and inspirational. I'm not exaggerating, I'd estimate there were more than 50 such stories. The book is rammed with tales from people (usually couples and families) who have followed the advice of Ramsey with positive results. If your student debt is high with low interest (as it is for many in the UK), then this approach would cause you to miss out on years of crucial compound interest growth during your twenties. On the steps themselves, I have only one minor quibble: Whilst I generally agree with Ramsey's highly focused approach, I'm not convinced about paying off all student debt before beginning to save for retirement/a home. Furthermore, the reasoning for each step's inclusion and order in the process is explained clearly. Despite the book's snake-oil-sounding title, the steps are excellent. The Total Money Makeover advocates a specific process (divided into 7 steps) as a means to becoming financially secure.

Here at LLB we've finally got round to giving it our full attention. The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness is one of the best-selling personal finance books of all time.

Menu Book Summary: The Total Money Makeover by Dave Ramsey on Book Summaries

Dave ramsey book the total money makeover