The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey

The Total Money Makeover: A Proven Plan for Financial Fitness Reviews

• 
  C

  Ramsey presents some sound financial principles in the book, but it came across as a sales pitch because he mentions his other books and live events, and practically every other page contains a lengthy testimonial from people gushing about their Total Money Makeover. I skipped all of these since I'm looking for practical financial advice, not feel-good stories.
  
  I respect Dave Ramsey as a person and agree with many (maybe most) of his financial principles, but I didn't like Ramsey's strict no-debt stance. The only exception he allows for is a 15-year fixed-rate mortgage. Although I agree that most people are better off avoiding credit cards because they can't resist the temptation to abuse them, I like to use cash-back and other rewards cards to pay for the things I'd be purchasing anyway. I don't think I spend more money simply because I charge purchases rather than dropping cash or using my debit card. For example, I paid my college tuition on my credit card and earned 1% cash back on thousands of dollars. I also charge all my gas purchases, and make 5% cash back. Did I spend more on tuition or drive more than necessary because I had charged those purchases instead of paying cash? I didn't perform a scientific experiment to determine that, but I'd guess not.
  
  I've also
  reviewed the abridged audio version.
  
  The Steps of the Total Money Makeover
  
  1. Set up a $1000 emergency cash fund
  Sacrifice, work extra hours, and sell stuff to get the money.
  Keep as paper bills or in a savings account.
  Don't put it in checking or any other account or investment.
  
  2. Pay off your debt snowball
  List your debts, smallest to largest.
  Pay them off.
  
  3. Finish the emergency fund
  Must cover 3 - 6 months of living expenses. 3 months if you have a truly steady job, otherwise 6 months.
  $5,000 - $25,000
  Put in Money Market with no penalties and check-writing abilities
  
  4. Invest 15% of gross income in retirement
  Don't count any company-matched funds.
  Don't count on Social Security.
  Use these accounts, in this order:
  1. 401K if company matches.
  2. Roth IRA.
  3. growth-stock mutual funds:
  25% large cap
  25% mid cap
  25% international
  25% small/emerging
  
  5. Save for college for your kids
  Use these accounts, in this order:
  1. Educational Savings Account (ESA) in a growth-stock mutual fund
  2. If you want to save more, use a flexible 529 that allows you to choose your funds
  3. Scholarships
  
  6. Pay off the house mortgage
  Spend every extra dollar you have left after setting aside for living, retirement, college, and mortgage.
  Don't keep a low-rate mortgage just so you can invest at a higher rate. After you pay taxes on your investment returns, and factor in the additional risk that the mortgage debt brings, it's not worth it. In the long term, you'll come out ahead by being debt-free.
  
  7. Build wealth
  At this point, you're completely debt-free.
  The next step is the Pinnacle Point: when your money makes more than you do.
  There are 3 good uses for money:
  1. Fun
  Guilt-free enjoyment, if you can afford it.
  2. Investing
  Think long-term.
  Don't try to time the market.
  Choose simple mutual funds and debt-free real estate.
  3. Giving
  Giving it away can be the most fun you have with your money.
  
  Additional advice
  Winning at money is 80% behavior and 20% head knowledge.
  "If you will live like no one else, later you can live like no one else."
  Debt brings risk, not prosperity. You can't leverage debt to build wealth.
  You don't need to build credit because you won't use it if you follow the Total Money Makeover.
  Credit card rewards aren't worth it. You end up spending more in unnecessary purchases and interest payments than you make back in rewards. No one ever became rich from credit card rewards.
  
  Choose high deductibles for auto and home insurance.
  Make a will.
  Choose a term policy, not Whole Life or Universal Life insurance.
  Don't prepay your kids' college expenses. You'll make higher returns by putting this money in mutual funds.
  Buy a house for 100% down, or if that's absolutely not possible, get a 15-year fixed-rate mortgage.
  
  You don't have to wait until retirement to do what you love. Get a job that you enjoy.
  A college education improves the quality of your adult life and career. But, it doesn't ensure a job or success.
  If you have cash or a scholarship, go to college. But pay cash; avoid student loans.
  
  Don't get a 30-year mortgage with the intention of paying it off in 15 years. You'll find other things to spend your money on. Having a 15-year mortgage forces you to pay off your home in 15 years.
  Don't pay points on your mortgage, since you're just paying interest up front.
  Your house payment should be less than 25% of your take-home pay.
  
  Don't lend to friends. If you must give your friends money, give it as a gift. Loans ruin friendships.
  "Wealth will make you more of what you are", whether you're a jerk or a generous person.
  "The love of money, not money, is the root of all evil." You have a duty to possess wealth to ensure that it's used properly.
  
  Recommended percentages for allocating your money
  Charitable Giving 10-15
  Saving 5-10
  Housing 25-35
  Utilities 5-10
  Food 5-15
  Transportation 10-15
  Clothing 2-7
  Medical/Health 5-10
  Personal 5-10
  Recreation 5-10
  Debts 5-10
• 
  Candace

  Recently, a good friend of mine who knew that I had read this book asked me whether or not I found it helpful. This friend has struggled with managing her personal finances and is drowning in credit card debt. She was feeling pretty hopeless and was worried that she'd never be able to take care of her bills and set enough aside for retirement.
  
  Rather than go into the ins and outs of the book, I downloaded the audiobook version and we listened together while working on paperwork during the work day. Honestly, I just didn't think I could communicate the underlying message of the book without coming across kind of "preachy". This provided a nice way to share the major concepts of the book with her, while providing a strong reminder for me.
  
  As you can imagine, personal finance isn't exactly the most entertaining topic. That is especially true when the take away message is to exercise restraint and behave responsibly. Nobody wants to face the fact that we are to blame for our own financial situations. It is far less painful to blame somebody else for the damage we do to ourselves.
  
  That being said, I really like Dave Ramsey's common sense approach. He tells some hard truths and forces you to take a long, hard look in the mirror. If you're looking for excuses or a pity party, you won't find it here. He is brutally honest.
  
  Sacrifice today for wealth tomorrow is idea. There is no get rich quick scheme presented, just old-fashioned wisdom. Essentially, his advice is to turn back the hands of time and handle money the way my grandparent's generation, and the generations before theirs, did. Don't spend money that you don't have. Save for future expenditures. Quit trying to keep up with the Joneses. It's that simple.
  
  Of course, he does provide guidance for how to get out of debt if you've already accumulated it. His personal story of bankruptcy and how he was able to turn around his finances was inspirational. He made it clear that anyone could do it, but they had to be willing to work hard and make some sacrifices. Most importantly, they would have to evaluate their attitudes toward money and be willing to make some changes in their behavior.
  
  Although I'm not a very religious person, I wasn't bothered by the bible verses that were interspersed throughout the book. Some people might be put off by that, but it wasn't an issue for me. Clearly, his religious views are an important piece of his identity. For people that are more spiritual than I am, this might prove to be a great source of inspiration. It was neither here nor there for me.
  
  All in all, I think that this is a great book. It didn't feel gimmicky or too good to be true. There were no promises or schemes presented. It was just good, sound advice for eliminating debt and living within your means.
  
  In fact, I'll probably make my children listen to this as they get older. I'm planning to purchase the book he wrote with his daughter that is geared toward children as well. Might as well start early.
  
  Check out more of my reviews at
  www.bookaddicthaven.com
• 
  Laura

  Buy it, live it! An amazing system that's not a system--just living within one's means. Worth the investment many times over!
• 
  Melissa

  I read Financial Peace years ago. We tried to live the plan, but looking back we could have done a lot better. The Total Money Makeover takes the same plan and breaks it down into more detailed babysteps. This REALLY works! We've had our $1000 emergency saving account for years now and have hardly had to dip into it because we really think through what an emergency is. Most of the time we have been able to wait a few weeks until the "extra paycheck," tax return or a bonus comes through instead of using our savings. The debt snowball really works. I was amazed when I saw how much money is going toward our last debt! It will only be a few more months to get it paid off. Yes, we did stop retirement for the past year--it was a simple form to fill out at work and only took a couple minutes. The money that was previously in our IRA is still growing, but we're not adding to it right now. When that debt is gone and we have our 3-6 month savings we'll start it up again. What doesn't make sense is having debt when you retire and using your money from your 401K/IRA to pay off the debt.
  
  This book is just common sense in a big way! There is so much peace in being in control of our money and our marriage is so much better because we have GOALS that we plan together.
  
  This book is a great gift for college graduations and weddings! We buy it on Dave Ramsey's website when it goes on sale for $10 a copy.
  
  Update: June 2018.
  I wrote the original post Jan 2008. We still follow this plan. We've been debt free for the past 10 years. no credit cards for even longer. My husband started his own company--debt free and has never borrowed money for it. We paid for six vehicles in cash (a "dave" car for my husband, a family van, then a truck to replaced the "Dave" vehicle, one replaced the worn out family vehicle, the others are the high schoolers and a college car. Currently have 4 good running, paid for vehicles). We have paid college tuition, missionary support and cash flowed a wedding. Our only debt is our house. It will get more attention after our children are grown. We've been amazed at what we can do by being intentional and planning large purchases, vacations and budgeting!
• 
  Sam

  This book is an insult to the intelligence of any rational human being who has even the slightest notion of what personal finance is all about. Full of filler, fluff, weak-sauce stories trying to be inspirational.
  
  Let me tell you in one sentence what this book took over 200 pages to tell:
  
  Take personal responsibility for your finances and start living within your means; you'll be happy and wealthy eventually because of it.
  
  Don't read this book!
• 
  Christy

  *Listened to the audio version of this book*
• 
  Shane

  This book is a great step by step plan to help you get control of your finances by walking you through the 7 baby steps.
  1. Small Emergency Fund of $1000
  2. Pay off all debt except house with debt snowball
  3. Fully Fund Emergency Fund to 3-6x of living expenses
  4. Invest 15% of income for retirement
  5. Fund kids college fund
  6. Pay off mortgage
  7. Have fun, give and invest
  
  Definitely a must read and the companion website
  www.mytotalmoneymakeover.com is hands down the best most practical website I've ever seen from making a budget to tracking all your goals to forums and plenty more.
• 
  Tonya Aiossa

  I probably should have given this book more than three stars, because it's a good start to figuring out a critical piece of the financial puzzle; getting out of debt. This book is debt-centric, so, if you're in debt, then yes, you really should read this book.
  
  However, while focusing on getting out of debt is a crucially important step of freeing up your income (because if the money you make every month is spent every month, you're not financially fit), there are many aspects of your financial self that are not addressed in this book. And, while Mr. Ramsey would probably tell you that these aspects of your financial self can wait until you're out of debt, I don't think it's wise to procrastinate an awareness of your financial whole.
  
  This is not to say that you should rationalize being in debt and/or put off getting out of it; and Mr. Ramsey has a sure-fire way of doing that. So, to the person in debt, the book does contain a money makeover plan; just not a total money makeover plan.
  
  If you want a money makeover that is total, you can combine this book with others ... or my sister, Taibi, has recommended a book called "Making the Most of Your Money," and she says it is a "total" guide to managing money. I'm going to read it myself, soon, and I'll let you know how I like it.
  
  Other books I would recommend about money; "Money Harmony" by Olivia Mellan, and "Secrets of the Millionaire Mind." I'll post reviews of those separately.
  
  
• 
  McKenzie

  After hearing about Dave Ramsey from a number of people, I decided to pick this up out of curiosity. I skimmed this book quickly, partly because it is mostly fluff. His crams the book full of testimonials about other families who have gotten out of debt- that's for the outside of the book, not the inside of it. Most of his actual advice (pay for things with cash, don't buy what you can't afford, live below your means, start investing for retirement early) consists of things my parents have been telling me since they started giving me an allowance. Ramsey is also vague about the actual saving of money- he suggests that everyone can get together $1000 in less than a month for their emergency fund. If people could find instantaneously $1000 of their income they weren't using elsewhere, wouldn't they have avoided falling into debt in the first place? I am glad other people have been able to use this system to get out of debt and put their finances in order, but this book did pretty much nothing for me. I would like to find a book that's more explicit about budgeting and investing, and one that doesn't tell me being in debt is like being fat, or that our government is completely incompetent at every opportunity, or one that doesn't belittle my chosen career path.
• 
  Angela

  This guy's claim is basically that the key to accumulating a lot of money is to (1) become debt free, (2) save a sizeable nest egg (3-10k)for the big emergencies that typically send people into debt in the first place, and (3) put the rest of your savings in mutual funds. He's particularly insistent that you suck it up and drive old cars that you've paid cash for rather than make payments on a new car.
  Good advice, but it would help if he offered more insights on how to follow it, especially since he seems to think that even those deeply in debt can achieve steps (1) and (2)in a year or two. He uses a lot of catch phrases like "live like no one else!" and "save with gazelle-like intensity!" but some more details would go a long way.
• 
  Brooke

  If you like animated religious sermons, Fox News infomercials and make payments on your Lexus with payday loans then this book is for you.
  
  I'm still on the hunt for a book that will teach me how to invest.
• 
  Tim

  This is a pretty decent plan for getting out of debt and starting to invest. In the time-honored tradition of such self-help books as
  How To Win Friends and Influence People, Ramsey uses personal stories from other people to drive his points home.
  
  But in essence, the plan is like this:
  1) stop buying things, sell off everything you don't need, stop using credit cards, etc.
  2) save up a $1000 emergency fund
  3) throw all possible cash toward paying off your smallest debt
  4) once the first debt is paid off, throw all possible cash toward paying off your second smallest debt, and so on until all you have left is your mortgage (if you have one)
  5) save up a 3-6 month emergency fund
  6) start a college fund (if you have kids) and pay off your mortgage
  7) invest, have fun, etc.
  
  Oh, and while Ramsey uses some Bible quotes here and there, it's pretty easy to ignore the parts about "God's plan for you" and other religious nonsense, and focus on the financial advice.
• 
  Linds

  This book is so helpful, straightforward, and inspiring. I have spent my twenties in the misery of consumer debt and student loans.
  
  I am now credit card debt free and am busting up my student loans.
  
  I like his advice. The very first thing you do is to get 1,000 dollars together BEFORE you start tackling your credit cards. Be aggressive, take a second job, sell your prized possessions, whatever, but get that $1,000. This is not $$ to keep in a checking account but in a savings account and with drawn ONLY FOR AN EMERGENCY.
  
  Now you have a buffer for emergencies. Now when the car breaks or a pipe breaks you don't have to break out the credit card, and it is the first step from freeing you from the shackles of debt.
  
  Then you order your debts smallest to largest. Once you pay off the smallest, you can take the $$ from the minimum payment and use it to pay off the next smallest debt. It snowballs.
  
  I'm a substitute teacher and make a small salary. To be free of the unrelenting hundreds of dollars of credit card debt is the best thing that has happened to me in so long.
  
  I am being over dramatic, but I truly feel hope for my financial future since I was about 14.
  
  You gotta buy this book. He has a radio show too but I've never listened.
• 
  Marlene

  I'm temporarily - I hope - departing from my usual review style while life is crazy and we're in the construction zone. I'm trying this rather than no review at all. I'm basically going to make occasional notes as I read, which is not as satisfactory to me, but hopefully they'll still be helpful.
  
  5/28/19: I'm not the financial manager for my home. My husband is. But I decided to listen to this book because I've heard good things about Dave Ramsey and his Financial Peace University course. We didn't take the course at our church because we didn't want to get rid of our credit cards and because we were decently happy with our financial system. However, right now money is a stressor for my husband because we're putting an expensive addition onto our house. So I decided to listen to it. I'm finding it very entertaining, and I am understanding what he's talking about. Which is great, because I've often been confused by the information finance managers have shared with us when we've had meetings with them in the past. I love how Mr. Ramsey outlines a plan with simple (in concept), concrete steps which he insists must be followed in order, no matter where you are in life. I'd recommend this book for anyone with an income. Period. I think I'm going to give it 5 stars because I think it's that good. But I'll be fair and wait until I'm done. Thomas Nelson is a Christian book publisher, but I think it's worth noting that the author rarely makes Christian references, and when it is it's usually a brief verse from the book of Proverbs. Proverbs does have a lot of wise things to say about money, so I think any non-Christian would not be turned off by this book. Now that I'm listening to this book, I'm eager to start our family financial meetings again (with my husband and two oldest children).
  
  5/28/19: I finished this today. I think my notes above pretty well sums up my thoughts on the book. I'd like my oldest son, who is nearly 16, to listen to it.
• 
  Sara

  I love Dave Ramsey. We have been doing the Total Money Makeover since Jan 1 of this year (we started after reading Dave's book "Financial Peace") and we are already seeing plenty of success with our baby steps. We pay for everything in cash now and if we don't have the cash, we don't buy it. We've got an emergency fund in place and have used it when things came up - auto repairs, etc. And best of all, we are in debt reduction mode - we had cut up all the credit cards Jan 1 and now we only see balances getting smaller or eliminated.
  
  I highly recommend Dave's book. Wish I had found it as a younger person. He writes in an very straight-forward, easy to understand way, without being dry or dull.
• 
  Chris Rhodes

  Giselle wanted the two of us to listen to this, and I got a few things out of it for sure - but much of it doesn't apply to every situation, regardless of how much the author wants you to think it does. Also the audiobook was kind of hilarious because it's just a guy yelling at you - literally - for 4 hours, haha.
• 
  Matt Lillywhite

  Review to come.
• 
  Pamela

  My husband & I have come up with a budget & decided to follow Dave Ramsey's 7 step plan to become completely debt free, including our mortgage! We are very excited about it! Our goal is to get to the point where we can pay cash for everything, build wealth & plan for retirement by investing, have fun, & give to others.
  
  The great thing about this plan is that it is NOT a "Get-Rich-Quick Scheme". It will take a lot of hard work and sacrifice, but it will be worth it in the end! It is basic, common sense principals. I like the fact that there's a plan for an emergency fund. You can have a safety net while you are eliminating your debt.
  
  First, you have to change your mind-set. Credit cards, student loans, car payments, & even a 30-year mortgage do not have to be the norm. Debt, any debt, is bad. Self-reliance, security, & FREEDOM is something that few people have achieved.
  
  ANYONE can do this! It does not matter how much income you have. It does not matter how much debt you are in. You CAN make the change! Make a plan & follow it with "gazelle-like intensity". :)
  
  "If you live like no one else, later you can live like no one else!"
  
  
• 
  C

  This is my review of the unabridged audiobook.
  Here's my review of the full book from a few years ago.
  
  My main objection to this book and Ramsey's approach is his anti-debt stance. I understand that he's trying to help people who struggle with debt, and that stance achieves his goal. You'd give different advice about drinking to an alcoholic than a non-alcoholic. I like that he's helping people, and I agree with many of the principles in this book. It's just not for me because I'm more logical than emotional when it comes to money. Ramsey says,

  Personal finance is 80% behavior and 20% head knowledge. … we are more concerned with modifying behavior than correct mathematics. … the math does need to work, but sometimes motivation is more important than math.

  I cringed when Ramsey said,

  As for building credit for other stuff, leave that to the losers. With your Total Money Makeover, you won't be taking on that kind of debt.

  Ramsey overlooks or disregards all the ways your credit score can affect your life, such as auto insurance rates, home insurance rates, employment options, and utilities rates.
  
  Ramsey presents this as a system to become debt-free and wealthy in 20-40 years.
  
  Notes
  Motto: "If you live like no one else, later you can live like no one else." If you will the make sacrifices now that most people aren't willing to make, later you can live like those people can't.
  
  Debt
  Debt isn't a tool to create prosperity. It adds risk, usually doesn't bring prosperity, and isn't usually used by wealthy people. The additional risk of debt offsets any leverage it could bring.
  
  75% of Forbes 400 said best way to build wealth is to become and stay debt-free.
  
  If you must have a mortgage, get a conventional 15 year fixed with payment no more than 20% of take-home pay.
  
  You don't need credit to get a mortgage, if you "live right" and find a mortgage professional who knows how to do underwriting.
  
  Visa's regulations require banks to give same theft and fraud protections to debit cards as credit cards. [I've always heard from financial sources that credit cards have better protection than debit cards; see articles at
  CreditCards.com,
  NerdWallet,
  Clark.com - Chad]
  
  Insurance
  Get 20-year level term life insurance equal to ~10x your income.
  
  Get long-term disability insurance. Can usually get coverage that equals 50-75% of income.
  
  If you're self-employed, get an MSA.
  
  If you're over 60, get long-term care insurance.
  
  Investing
  Invest 15% of gross income into retirement.
  
  Invest in mutual funds:
  25% growth and income
  25% growth (mid-cap or equity; e.g., S&P index)
  25% international
  25% aggressive growth (small cap, emerging)
  
  College
  You or your kids should go to college only if you have the cash or the scholarships to avoid student loans.
  
  Fund college, or at least first step, with ESA in growth-stock mutual fund.
  
  Mortgage
  It's not wise to invest rather than pay off mortgage. Don't use lower-interest debt to invest in higher-return investments. After adjusting for taxes and risk (carrying a large amount of debt and not owning your home), you come out ahead by being debt free.
  
  Don't take a 30-year mortgage and promise to pay it in 15 years. Unexpected expenses will come up wrong and you won't be able to stick to the 15-year schedule. 97.3% of people don't systematically prepay.
  
  If you must have a mortgage, pretend only 15-year mortgages exist.
  
  Families that stay "gazelle intense" pay off mortgage 7 years from date they set that goal.
• 
  Jesse Washburn

  There a number of money focused books that address the whole financial picture while specializing in a particular area such as investing, money psychology, or early retirement. This book touches on a broad array of topics, but the central theme is debt. Dave Ramsey has had challenging experiences with debt causing him to offer advice, which in my opinion, is an overcorrection: “to live debt free.” While the idea of living without debt of any kind is a protection to those with problematic spending personalities, the average person will benefit more from its responsible use than from its avoidance.
  His tone comes across as demeaning and he seems to assume his audience is uneducated and incapable. He treats the reader like a child needing a hyped-up, zealous commitment in order to not mess up his plan. He uses cult-like imagery by saying that people will judge your abnormal behavior, but to just press forward knowing you’re right (which as a rule I find problematic even if it is effective). He creates this level of religious mysticism to make you feel like participating would make you one of the special few. Since the majority of Americans have very little Emergency/ Retirement Funds, there is truth in this mentality but I’d rather it were motivated by something less prone to abuse by corrupt leaders.
  That being said, Ramsey doesn’t seem to be pushing too self-interested of an agenda. It’s refreshing to hear someone talk about one of the main reasons for getting rich is to have the means to give and help others. I love that he slams financial products that do more harm than good like: get rich quick schemes, payday loans, credit card abuse, buying new cars, whole life insurance, spending to impress people, and more. Many of his altruistic motivations seem to stem from his religion, which I respect. But some of the connections to Christianity seem contrived (depending on how you feel about religion). For example, it feels out of place to hear that: "god sent a Jaguar back into my life. He returned what the locusts had eaten, but he only did so when it was not my idol."
  
  There are areas that I find EXTREMELY problematic that I would recommend getting a second opinion on before following:
  
  -He frequently quotes getting a standard "12% average annual return" which seems optimistic, if not misleading. While that is a possible figure, it is unlikely to be reached while using the broad mutual funds he suggests. One would be better served assuming the commonly quoted average of ~7.5% and then being ahead if that number is surpassed. I worry about people planning their lives with that as the baseline.
  
  -He recommends paying off debts before anything else, even before taking advantage of company 401k matching. While it's nice to focus on the emotional benefit of seeing debts disappear, missing out on free money is irresponsible. You lose a guaranteed 100% return in order to avoid an interest rate that is surely less than 100%. While there are situations where paying debts should be the priority, the blanket statement of “paying debts first no matter what,” can do more harm than good.
  
  - He also says that if your net worth gets to a point that you can live off 8% of your savings, you can retire. This feels like an unsafe metric to live by. Most voices in the finance world preach aiming to live off 4% of savings, which is a safer route. To confidently expect 8%+ gains every year seems dangerous. For someone so pessimistic about debt, he is very optimistic about market returns which could lead to problems for someone mapping out their retirement.
  
  Overall, this is not a book I’d recommend. I’m sure he has helped countless people and I love that he has an emphasis on charitable giving. But there is simpler, more helpful advice for the average person out there.
  
• 
  MrsJoseph *grouchy*

  6 years, 3 months
  
  --Pre review --
  
  I'm very familiar with Dave Ramsey (I was introduced to him by my husband). I like both him and Suze Orman (but for different reasons).
  
  This is more of a twofer for me: I get a refresher course on not spending all my damn money AND I knock this book off Mt. TBR. Win/Win.
  
  When I first started listening to Dave's radio show + podcasts (20years+), I was certainly part of his target audience: someone who was never taught about finance and made bad financial decisions. The only financial knowledge I received prior to college was instructions on how to write a check (no, I didn’t know how to balance a checkbook). When I got to college, credit card companies (they were set up outside the student union and dorms like vultures) quickly taught me more than I wanted to know about finance. I was told that I could get a credit card because my scholarship was the equivalent of income. *headdesk* I had somewhere in the nature of 5 credit cards before I was finished with my first semester of college.
  
  Yeah, I had a shitton of debt.
  
  Using Dave's very basic and commonsense tools (he says that it's the same advice you'd get from your grandma but he keeps his teeth in, lol), I was able to dig myself out of all my debt.
  
  There are somethings he suggests that I do not do - but it's more about personal convenience/laziness rather than a belief that he's incorrect. I have a 30-year mortgage and I use a debit card rather than cash. The emergency fund? I think it is THE MOST IMPORTANT thing he can suggest to anyone, especially humans who live in the world. ;-) The very first year we bought our house we had to replace my car, replace the roof AND replace the A/C. Can you imagine?? We JUST bought the house - can you imagine what it would have been like without an emergency fund? What could have turned into a financial nightmare ended up being an[major] inconvenience.
  
  This is not a book or a system for those who want complicated or sophisticated. This is simple math and simple concepts that work. I know for a fact that they work because I've seen my life changed because of them. I know I could do better, though. *whispers* I stop listening to Dave when I want to spend money.
  
  Note: I really loved the debt free phone calls Dave takes on his show. I miss that here in the book. Those calls - so full of excitement for the future - used to make me a little misty eyed.
  
  
  --After Reading Review –
  
  So, I feel a little embarrassed reading this book. We should be firmly in the wealth building stage of our lives but I have a spending PROBLEM. I like stuff – I like the act of buying stuff and I don’t have a saver’s spirit. My husband does but I need a portable budget and constant reminders. CONSTANT.
  
  Example: I have a tiny bit of business debt I seriously need to get rid of. It���s bothering my husband like nobody’s business so I really need it gone. But what did I do on Friday? I went to Sephora and bought Illuminator and a lip gloss. $60!!!! That same $60 could have been put towards my debt. Hubby has not a clue I bought it, either. What’s worse is that I didn’t NEED the illuminator or the gloss. I have plenty of illuminator – just not in the shade I wanted (And I’m thinking of taking this back for a different shade but that would be ridiculous because all sorts of complicated makeup reasons).
  
  Maybe I need to start listening to the podcast again…
  
  
  
  
  
• 
  Roxanne

  This book contains very helpful steps regardless of what your income is or how much debt you have. I also appreciated the plethora of stories from regular people with a variety of backgrounds explaining how the Total Money Makeover worked for them. I’ll definitely read this again and implement this system!
• 
  Holly

  I'm always cautious about books or products which supposedly save you money. What's the old adage? "How do you make a lot of money? Write a book about how to make a lot of money"
  This book did that annoying thing where it spends the first few chapters telling you how great the system works, but doesn't give the system out until the second half of the book. I'm not a fan of that particular literary device.
  Also, I felt like many pages of "success stories" were overkill. A few would have been great, but there are so many as to make them superfluous.
  That said,
  His principles are sound and anyone encouraging people to get out of debt is fine with me.
• 
  Shelby Poinikiewski

  I'm currently obsessed with Dave Ramsey. I think everyone should read this book!!! And listen to his podcast and together we can change the culture of spending and consuming to one of living and giving like no one else!
• 
  Melanie Kilsby

  Very practical and biblically sound advice!
  
  This book will hit you in the gut and make you shake your head at the same time. It will be hard to listen to and even harder to do. But, will be beneficial to you in the end.
  
  Dave likens a lot of his advice to working out and getting in shape. He paints the view of someone working hard to ride his bike up the mountain, pushing all the way to the top with "gazelle" like attitude. Once there, enjoy the wind and breeze flying down.
  
  I like this book for many reasons and already do the concepts presented in this book. We've been applying many of these biblical truths and wisdom from early on in our marriage. It's refreshing to see others doing the same and helping people in the process.
  
  What doesn't work for me in the book is that is is solely based off the US economy.
  
  His advice is for the average couple or person making $50, 000 per year, give or take. It's impractical when comparing to other places in the world and this is where I see a big difference.
  
  When we compare "free money" after the snowball debt and you've saved enough to live off of for 3-6 months, he talks about putting 15% of your income into various things to gain wealth including retirement savings plans (that are also different in other countries - so keep that in mind) and saving for your children's college, etc. From there, it's the last steps into investing where you really build the wealth and have your money working for you. Here is the but...
  
  But, in most places, with that income average, there is no "free money" and everything is spoken for because of living expenses. They can get out of debt by a lot of hard work, selling things, etc. But to put %15 away is unrealistic to places where I live compared to where the author lives.
  
  When the average in income is approx. the same as US at $50, 000, BUT living expenses are 13 - 21 % more higher on average, what do you do?
  
  Here is the latest comparison as of this year 2017 and I feel very accurate:
  https://www.expatistan.com/cost-of-li...?
  
  Don't get me wrong. Applying the principles laid out, will benefit you greatly and start the upward climb to getting victory over financial problems. And debt free, no doubt!
  
  But if it comes down to living expenses. There is no solid advice, except move from where those living expenses are high.
  
  Moving isn't always an option.
  Nor is commuting.
  
  There is a lot to consider with both suggestions...
  
  Prices of gas in comparison are 15 - 45% higher in some places and that is not considering wear-n-tear on the vehicle at all. It might mean losing the better paying job to relocate. And in Canada (and for many international areas), job security is sometimes more of a risk when thinking of quitting to relocate and find better housing. It truly can be a gamble with you being on the losing end.
  
  So, I wish there was a better portion of this book that spoke to other International places. Or maybe even a book on International economies with wisdom that is biblical and maybe more realistic to those specific countries?
  
  Regardless, biblical principles is always the right way to go. We are debt free by doing the very things mentioned in this book. And I am glad to have found someone explaining these ideals for the US and hopefully soon, making them more realistic for others all over the world :D
  
• 
  Abdulrahman

  كتاب قصير استطعت التهامه بسرعه، استمعت الى النسخه الصوتيه منه.
  
  عيوب:
  1- تكراره الممل ان خطوات توتال موني ميكوفر رائعه و رهيبه و و و، حتى انه وضع التستيمونيل (الاطراءات؟ لا اعلم ما ترجمتها تحديدا) في وسط الكتاب!!! و انا استمع للكتاب اتفاجئ بمقاطعه لقصة نجاح لاحد الاشخاص ��لذي اتبع الخطوات و اصبح خالي من الديون و انه سعيد الخ.. يا الهي!
  2- تكراره الممل ايضا لجملة gazelle like intensity قادني للجنون!
  3- ليس عيبا في الكتاب، لكنه موجهه للفرد و النظام المالي الامريكي، لذلك كثير من النصائح لا تنطبق علينا في السعوديه
  4- قد لايعجبك الكتاب الصوتي لان القارئ (و هو الكاتب نفسه) يستخدم نبرة صوت تشبه الانفومرشل الامريكي، حيث انه يستخدم الصريخ و الضحكات و -الاستهبال- اثناء القراءه... ليس الكل يحب هذا الاسلوب الذي يعطي صبغه رخيصه للكتاب
  5- قد يكون الكاتب متحفظ جدا ماليا، لديه سياسه صارمه جدا ان الديون تكون صفرا و لا يشجع اطلاقا على بعض التسهيلات مثل التاجير المنتهي بالتمليك الذي شخصيا كان ذو فائده لي عندما فكرت بشكل سليم
  
  اعجبني:
  1- خطوات سهله و منطقيه، بل حتى تشجعت و نفذت الخطه الاولى و اتأهب للانتقال للخطوات الاخرى!
  2- يركز على الافراد ذوي الدخل المحدود و من هم في ضائقه ماليه
  3- قصير نسبيا
  4- بشكل عام، حتى لو لم تتبع الخطوات، سيعطيك احساسا بالمسؤوليه و اعادة التفكير في اموالك
  
  حسنا ما هي الخطوات السبعه؟ (لاتكتفي بقراءة الخطوات، حيث انك ترغب بالقراءه بالتفصيل عنها):
  
  1- اعمل لك حساب طوارئ به الف دولار (قرابة 3700 ريال سعودي، و هو مبلغ اراه منخفض شخصيا فازدت عليه) ، لا تلمسه اطلاقا الا في حالة الضروره القصوى جدا! حادث، اصابه بليغه..الخ
  2- استخدم اسلوب كرة الثلج في تسديد الديون، مسمى براق لفكرة ان سدد الديونك الصغيره اولا! ثم الكبيرة منها
  3- ادخر مبلغ يوزاي مصاريفك المهمه جدا لمدة ثلاث\ستة شهور. شخصيا اخترت مبلغ يوازي مصاريفي لاربعة شهور و ركنته بعيدا عن يدي. الفكرة من هذه النقطة انه في حال حصل شي مثل الطرد من العمل، فانك تملك مبلغ يجعلك تستمر على نفس نمط حياتك المعتاد لمدة ثلاث او ستة شهور حتى تستطيع ان تحل مشكلتك. نصيحة ذهبيه!
  4- استثمر 15% من راتبك الشهري مبكرا للتقاعد
  5- استثمرمبكرا لتكاليف الجامعه
  6- قصر من قس منزلك و ادفعه باسرع وقت ممكن. في السعوديه دائما نختار قسط الثلاثون سنه! و انا اراه جنون، اتجه دائما لقسط الخمسة عشر سنه
  7- استثمر الفائض و اعط الاخرين
  
  قد تبدو الخطوات جافه، لكن تذكر ان باسفل كل نقطه كم كبير من النصائح و الافكار، قراءة الكتاب شي اساسي لفهم هذه الخطوات، ايضا كثير من النصائح كما ذكرت سابقا تناسب الفرد الامريكي فقط، حاول ان تاخذ الفكره و تبحث عن بديل مشابه لها في بلدك و نظامك المالي