Tuesday, January 21, 2020

"The Total Money Makeover" by Dave Ramsey

This is a time-proven process book on how to get financially fit.  Dave Ramsey is both a TV / radio finance personality as well as someone college educated in economics.  Ramsey explains how so many Americans are drowning in debt.  People buy things they don't need with money they don't have to impress people they don't even like.  Factor in compounding interest and people ending up paying far more than they initially swiped their credit card for.  Speaking of credit cards, Ramsey encourages readers to cut up their credit cards, budget their income, and only spend cash money on what they can actually afford.  After setting up an emergency fund, readers are encouraged to tackle their debts from smallest to largest.  This may involve a downgrade in lifestyle or even selling off a new leased car to purchase an older more affordable vehicle.  What I liked was the stories throughout the book.  People from all walks of life share their money struggles and how they turned their financial lives around using Dave's tips.  Most of the people in the book make less than $50,000 a year yet manage to eliminate debt and save for retirement.  If they can do it, so can you!

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