The Total Money Makeover teaches you to use Dave Ramsey’s 7 baby steps to get out of debt and win with money. In the book, Dave lays out a case for why all debt is bad and how anyone can live debt free. This is not a get-rich-quick book and it doesn’t try to upsell you on seminars and courses. It gives you the exact plan for your financial health!
Breaking The Myths Of Debt And Money
The Total Money Makeover begins with Dave Ramsey describing his own story of financial problems when he was younger. Dave had made a lot of money at a young age but he failed to manage it properly and it led him to bankruptcy. He challenges you to acknowledge that you are the problem and that financial success is 80% behavior and 20% knowledge. If you live like no one else now, later you can live and give like no one else. Dave tells us how many people are in denial about their financial well-being. How many people do you know that say things like “I’m debt free – except for that one credit card?” Dave also breaks myths around debt and money. He does a great job of laying out these myths with detailed examples. These first few chapters will change your thoughts about what being financially fit really means.
The 7 Baby Steps
In the rest of the book, Dave teaches you how to get out of debt and into a total money makeover using the 7 baby steps:
- Save $1000 in a beginner emergency fund.
- Pay off all debt except the house using the debt snowball.
- Increase your emergency fund to include three to six months of expenses.
- Invest 15% of your household income into retirement.
- Start saving for college.
- Pay off your home early.
- Build wealth and give generously!
This is a well laid out plan that has led millions of people to financial freedom. It’s not a get-rich-quick scheme. You won’t have to leverage the secrets of the stock market told by a magic genie. Dave lays out simple steps that anyone can follow. If you follow the 7 baby steps laid out in The Total Money Makeover, you will change your life!
It’s Time To Win With Money
The seven baby steps are simple but they are not easy. Becoming financially healthy is a behavior change which can be difficult to accomplish but millions of people have done it thanks to Dave Ramsey’s teachings. You can find additional motivation by listening to The Dave Ramsey Show and listening to the stories of those who are winning with money doing their debt free screams every single day. I recommend this book to anyone that has any interaction with money. It’s that informative. Even if you’re debt free, you will learn something in the material presented in The Total Money Makeover.