The Total Money Makeover By Dave Ramsey

In the book The Wealthy Barber it begins by talking about the thing that he likes to do in his spare time. David then begins to introduce his wife and talks about how they have a baby on the way but he is completely clueless when it comes to managing/saving money. He needs to make himself a smart financial quickly with having a wife and now a baby on the way. David talks continues to talking about how his father was very smart with financial means. His father has never bought anything without saving for it first. The only thing David’s father borrowed money for was to buy a house and he had a 30 year mortgage. He learned to become financially smart from a local barber named Roy. David, his sister Cathy, and his best friend Tom together go visit Roy who promises by the end of seven months all of them will be on the road to success.

What would you do if you had $15,000? Perhaps you donate money to charity, or perhaps buy a new car? Maybe you could finally get that watch or purse that you’ve always wanted. The issue is that many people thought they had this much money. Unfortunately, they paid with credit and are now paying 18% extra on their purchases; in some cases, it’s even as high as 26%. That equates to paying roughly $18,000 dollars for something that only cost $15,000. Many Americans are regrettably faced with these bills today, but there is hope. There are people out there who want to get us out of debt, and back on our feet. This essay will look at two of those people, Dave Ramsey and Suze Orman. Of course, you will have to decide which will work best for you. Hopefully this will help you find your way to being debt free.

The presentation that I saw during the preparation of this discussion board post is entitled, “The 7 Baby-Steps” by Dave Ramsey. In this presentation, Dave Ramsey utilizes seven baby steps that will help individuals get out of debt and start a savings account. The question that was being answered in this research report is no matter what your income level is, Dave Ramsey will utilize your earnings in slowly chipping away at your debt. Dave Ramsey is very serious about his study and has used his teaching in his own life. Once a millionaire, Dave Ramsey had lost it all and was in crippling debt. However, using his research he developed a plan that not only allowed him to get out of debt, but to also become a millionaire once again.

In David Bach’s book The Automatic Millionaire, he reveals to readers a plan that could help them prosper in life financially and retire early without any financial stress. In the first chapter of his book his introduces to us the McIntyres, a normal married couple looking to retire early. After talking to the couple, Bach discovers that this is no regular couple financially. He finds out that this couple owns two homes without any mortgages, have absolutely no debt and have a net worth of almost two million dollars. He then investigates why this is so. He finds that the McIntyres have some guidelines that help them. They have goals instead of budgets, they pay themselves first, watch their latte factor or spending and make their savings automatic.

So, you’re making payments on your car, your furniture, your house and your credit cards. In other words, you’re a typical American…and you’re in trouble. You’re behind on your payments and see no earthly way to dig your way out of your miserable pit. You need Dave Ramsey. Dave Ramsey is direct, he doesn’t sugar-coat his advice. He’ll tell you what’s smart and what’s not so smart. He won’t tell you that the road out of debt is always easy. Ramsey gives a step by step approach to getting out of debt, saving and investing for the future, but he also gives you more. People in financial trouble, such as myself, need more than a method; they need hope. Ramsey offers hope by telling you from his

Dave Ramsey’s book The Total Money Makeover is the ultimate guide for you to become as wealthy as you possibly can. In this book Dave tells a tale of a man who ends up going bankrupt and how that man became a millionaire. That man is Dave Ramsey and he goes step by step to his proven plan which is used by millions of people to get rid of their debt. Throughout the book Dave Ramsey gives astonishing myths that the majority of people think are facts. In this book he talks about this snowball which is supposed to help you get rid of your debt so you can “later live like no one else” (Ramsey). In the following paragraphs I will be sources checking the validity of this paper with the well known financial website Fobes.

Dave Ramsey is a New York Times Bestselling Author who has written over 15 books that gives the reader practical guidance on eliminating debt and building wealth. Dave’s story started out as a picturesque “American Dream” type of a story that most people dream of living. By the age of twenty-six he has amassed a portfolio worth four million dollars. He later lost it all by the age of thirty (Lampo Licensing, LLC, 2015). Since his financial downfall Dave Ramsey has devoted his life educating and empowering people to get their personal finances in order.

I believe and agree with every Ramsey says. Living a debt free lifestyle can make such a differences. Life without debt or becoming debt free allows people to become financially sound. It can truly be a hard task, but “with God all things are possible” (Philippians 4:13).

This relates to different matters. First of all, the kids of wealthy parents, should not depend on their parent’s money, and they should learn how to become independent on their own. This applies to common people like me as well, in that we should not rely on someone to bail us out, like our parents, and that way we can control where our money comes and goes. Being rich is one thing, staying rich is a totally different category from what I learned in this book. Knowing what is more important to you is also part being disciplined, because that way you will not spend money on worthless items like so many people with high incomes do, and they end up not accumulating

Read their books and learn the basics of personal finance. Gain the knowledge of saving and compounding your wealth over a period of time. Here is a list of top 10 books on 'Personal Finance' which will help you manage your finances in the right way. • The Total Money Makeover: Dave Ramsey Dave Ramsey gained popularity as the author of the best-selling book, 'The Total Money Makeover'. In this book, Dave provides

The book begins with the author David Bach meeting Jim McIntyre after one of his investment classes. Jim requests to meet the author to review their financial situation and the meeting is set. Mr. Bach is amazed as he looks through the McIntyre’s finances and the conversation switches from looking at their situation to asking how they’ve done what they’ve done. What the McIntyres told the author has help himself and many others through this book become automatic millionaires.

The concepts are challenging, the need is great, but the reward is eternal. Because when you learn to master your money God’s way one day you will hear Him saying “Well done good and faithful servant… enter into the joy of your Lord.(Matt 25.21) ” (Blue, 228) And those words will make all the financial challenges of your life worth

Suze Orman’s The Money Book for the Young, Fabulous, & Broke stands as an in-depth guide to the financially struggling, younger generation in today’s prospering yet wallet-emptying economy. Through 300 pages of detailed advice and explanations, Orman shares her expertise. She is the author of New York Times bestsellers and national bestsellers including The 9 Steps to Financial Freedom, The Road to Wealth, and Suze Orman's Financial Guidebook and the host of her award-winning CNBC-TV show, The Suze Orman Show. The start of her big financial career began early: she was an Account Executive at Merrill Lynch from 1980-83, served as Vice President of Investments for Prudential Bache Securities from 1983-87, and directed the Suze Orman Financial

There are many ways for people to achieve prosperity and success in the matter regarding finance, and there are many billionaires who used different methods to make billions of dollars a year. As suggested by Dave Ramsey, a successful businessmen who is rich, one of the keys to being affluent in life is freeing oneself from debt. As regard the mean of getting rid of debt, Dave Ramsey suggested that people should not use credit cards, not borrow loan in emergency case by saving money for the future, and for students who are going to university, not borrowing student loan.

What is the thing that drives each of us? Survival. No matter where you are or where you work, survival is the very livelihood that drives people to want to succeed. People want to take a look at how they can be successful and move up in the world. Now while promotions and an increased income are key to building one’s personal wealth, another factor that can derail a successful person is how they handle their finances. If you are unable to control what you are spending and weigh yourself down in debt, it becomes impossible to begin to build personal wealth. Reflecting on my own budget, the diagnosis of income versus expenses identified some key areas where improvement can occur and serves as an example for others to