Where Financial Peace gave you the solid saving and investing principles, this book puts those principles into practice. You'll be exercising your financial strength every day and quickly freeing yourself of worry, stress and debt. And that's a beautiful feeling.
©2003 Dave Ramsey; (P)2003 Thomas Nelson Publishers
"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." (Publishers Weekly)
I couldn't decide between this book or Dave Ramsey's Financial Peace - i opted for this one given it was only 3 and a bit hours and i thought I'd get the highlights version. In hindsight i would have been better off buying Financial Peace as he skims over way too much and all i really got out of this book was avoid debt - which is kinda obvious Mr Ramsey! He does touch on his "baby steps" which had he gone into more may have been a help.
It also takes a bit of getting used to being yelled at - but you do kinda get used to it by the end.
There's a story within this audiobook which finishes saying 'if you have an income, you need the total money makeover'. Couldn't agree more. Have listened to this at least 10 times now and will continue to every couple of months or so
Loved it and already listening to it for a third time in succession... Dave Ramsey is a genius and a great performer! I will keep this book like I have done with all my favorites.
"This guy makes sense"
I have business degrees from Wharton (BS) and Stanford (MBA), but like most Americans from middle class backgrounds, I never got much training in personal finance and always felt bewildered by it. I recently listed to The Total Money Makeover for the third time and it clicked. The first two times, I was still in school and had no income, so felt powerless to act on its lessons. Now, with a steady income (and some monstrous student loans) the lessons are relevant, actionable, and empowering.
Before, I always felt at a loss when it came to budgeting. After re-listening to The Total Money Makeover, I got a second savings account to hold my emergency fund and long-term savings, making it easier to separate between current accounts and short-term savings. Now, I have an Excel spreadsheet with a separate column for each upcoming pay check. I know how much of each paycheck will get immediately transferred into long-term savings (e.g. for a wedding in the fall), how much will go to short-term savings (e.g. for next month's rent), and how much disposable income I have in my current checking account.
Furthermore, I have a better plan for paying down my debts. If I were to approach this according to the pure net present value financial principles taught in school, I would start with my big student loan (highest interest rate), then my smaller student loan, then my car loan (lowest interest rate). After listening to Ramsey, I'm going to do it in the opposite order. Although that will cost me some in NPV, it means I can pay off my car loan in a few months (freeing up $250 per month in cash flow), and can pay off my smaller student loan in a few years. My larger student loan is the size and duration of a mortgage, and I'll treat it like it's one. If I tried to pay it off first, I wouldn't see any impact on my cash flow for probably 14 years, making it discouraging to try to find extra dollars to put towards paying down debt. Trying this the Ramsey way, I already feel like I'm making progress and am motivated to do more.
Dave Ramsey is an inspiring speaker. Although his message may come across as simple, in my opinion it does a far better job taking into account human nature than any of the sophisticated financial and economic models I spent so much money learning. I can't recommend this book enough.
"Short and Easy Steps"
I would give a B-. Gets to the point, gives good metaphors and easy to follow.
Metaphors used to describe steps or missteps are very memorable and applicable to most people.
Voice and diction were probably best compared to what I have listened. Would expect good performance from professional speaker. Have heard some "funny" start/stops or paragraph breaks on other books. Probably start of new session or after break. Did not hear in Ramsey's performance, however this book is shorter than most. 3+ hours
No crying, definitely a few laughs. Mostly found myself quoting excerpts to others.
Religious overtones and bible quotes throughout book. However quotes in nature of "Saving" money and neither borrowing or lending; giving money OK. People describe me as Agnostic and this did not bother me. All in all good book, great performance. Enjoy
"maybe the best self help book ever"
I have. I am a financial advisor and every high school kid, anyone who wants to be out of debt, and anyone without 6 months savings should read this book. It teaches real money mangement.
The step by step process to financial stability.
He is truly passionate about what he does and is a motivating leader. I do not always agree with him, but he is right when it comes to managing money.
this is a must read and top ten book of all time for me.
Even if you might not adhere to Dave's plan exactly, the idea of slavery to debt and freedom from it are very motivational. I feel like the examples he uses are real life people and he doesn't use terms or language that is reserved for finance professionals. It really is a good, practical plan for getting out of debt via hard work and perseverance. Even though his plan is not the best "mathematically", the point of getting some quick wins by paying off the lowest balance without regard to interest rate is a legitimate point. Honestly, you can hear most of the content of this book in his daily podcasts. I do recommend this book to people.
"Do you have debt?"
Great book showing a simple, common sense, approach to getting free of debt. It's not easy. You'll have to sacrifice and live like nobody else but end the end you will be able to LIVE like nobody else!
I appreciate the insight offered in this book. The steps outlined are easy to understand. The scenarios offered were helpful.
"Dave Ramsey makes a difference"
Yes but with hesitation. His demeanor is rough in his presentation. I enjoyed it, I needed a good yelling at to get my crap together!
Of course!! He is brilliantly caring.
No Credit Cards, Pay Cash!!
His methods are the real deal. Straight forward and honest. Give it a go.
"Brash? Yes. Honest? Absolutely."
Some people have remarked that they don't like the tone of this book. If the author seems a bit "brash", it's only because he's attempting to highlight the level of insanity with which most people approach personal finance. Take a look around you. The guy you work with who just bought a new Hummer. Your sisters' friend who just moved into a $800,000 home. They must be doing great, right? WRONG.
The truth is, they're most likely broke. They're high-income, low-net-worth people who are teetering on the edge of complete financial ruin. Rich people, don't do these things!! Well, that is unless they're really really rich.
This book will change the way you think about money. When I see the guy in the new Mercedes now, I think, "Man, that guy has nothing in the bank". This book will make you proud of your old jalopy. After all, it's better to ACTUALLY BE RICH.
Most Americans WISH for financial security and DO everything they can to make sure it NEVER happens. I think this is a level of insanity that warrants a brash tone.
If your ready to get real about your finances, this is the only book you need to read.
Listened 10 times an will listen again and again in future and so will you!!!
"Recommended if you are in deep financial trouble"
this book is really targeted at people with lots of debt and financial problems. Although there are some good tips for everyone, the main focus is on how to get out of debt.
"Thank you Dave Ramsey"
This is a quick update to those in need of hope. I wrote a review back in June last year and now wish i could give this book more than 5 stars!!! We are now debt free, thanks to Dave's principles layed out clearly in this book.
great advice. strong American biased but the basic plan is sound where ever you live.
Loving this book. Hard Hitting and no nonsense practical way to move forward to Financial Health.
Very straight forward advice that anybody can follow and become wealthy get out of debt save for retirement etc.
The advice is very american-based which is obvious as he is from the US but it translates very easily to the UK so can still be followed.
I loved the baby steps, so easy to take on board and digest. I admit it would take most people a while to go through all the steps and reach the stage where u get to "live like no one else because u've lived like no one else"but the goal definitely seems worth it.
"A Dull , Dry Topic Brought to Life"
Well written book about a subject that's easy to procrastinate over. I would highly recommend.
really good content. so helpfull.
only thing id say, is the constant God references kind of discredits it as a factual book. should have left his views out.
"not for international readers"
Intended for USA residents only. I didn't enjoy the narration either although I could guess that from the sample. I never finished it...
This is a very good personal finance book . Simple steps to achieve financial freedom. I would buy other book by Dave and read them definitely.
"Really engaging and it makes so much sense!"
I would definitely recommend this book to a friend because I think this book teaches us something about money which todays society doesn't. We don't need to live pay check to pay check and if this book can help me, then why wouldn't I want to help my friends too?
I really liked the simplicity of this book. Everything Dave talks about just makes sense. His approach to finance and budgeting your money allows you to take control of your money, not your money controlling you.
I don't necessarily think this book should be a film. It works well as a book, and I know that they have an adapted version called Financial Peace University for visual effect.
I really recommend this book to anyone who wants to feel like they have more control over their money. Even if just get you thinking, this book will transform your life.
"Excellent from start to finish"
If you are tired of living life payday after payday and never seeming to have any money then I highly recommend this book.
It is a tried and tested method that so far has worked wonders for me!
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