Sunday, October 27, 2013

How to be debt free: Review of Dave Ramsey's book "Total Money Makeover"

 I was inspired by Dave Ramsey’s ideas and they helped to write own home finances book for couples.  He is a spiritual leader in the world of personal finance and debt free living.  "Total money Makeover" helped thousands of families and individuals on their way to financial freedom.

As most of the readers are probably familiar with his ideas and 7 Baby steps, I’d rather list quotes that impressed me, since I took several of them into my own book.

-    “You must gain control over your money or the lack of it will forever control you.”
 -    On Total Money Makeover: “What to do isn’t the problem; doing it is.”
-    “…personal finance is 80% behavior and 20% head knowledge.”
-    On debt: “If you free yourself, you can make free choices.”
-    “Being willing to delay pleasure for a greater result is a sign of maturity.”
-    “Looking good is when your broke friends are impressed by what you drive, and being good is having more money than they have.”
-    “‘We will have to pass on that trip or dinner because it is not in our budget’ is virtually impossible for some people to say. Being real takes tremendous courage.”

-    “The sexes do view the emergency fund differently. In general, men are more task-oriented, and ladies are more security-based. Guys like to know what you “do,” so some of us don’t understand the idea of money just sitting there causing security. Most ladies I meet smile when we start talking about having $10,000 between them and the rain.” – TOTALLY AGREE

-    “I can find only three good uses for money. Money is good for FUN. Money is good to INVEST. And money is good to GIVE.”
-    On investments: “When you can comfortably live on your investment income, you are financially secure. Money is a hard worker, harder than you. Money never gets sick, never gets pregnant, and is never disabled. Money works twenty-four hours a day, seven days a week. Money gets its job done, and it asks for only directions and a firm master.”
-    “My wife and I are concerned that our wealth be a blessing and not a curse to our children. So we are tough on our kids regarding work, saving, giving, and spending issues.”

I recommend this book for anyone willing to get out of debt (best book on the topic!) and move towards financial success. 

Dave, thank you so much!

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