Analysis Of Total Money Makeover By Dave Ramsey

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TOTAL MONEY MAKEOVER: BY DAVE RAMSEY

I choose Total Money Makeover by Dave Ramsey because my family, in particular, my father and brother have read several books by Ramsey and have always said really great things about them. My younger brother has made fairly wise financial decisions for a 22 year old after going through his class. My father had trouble back in 2008 with his small business he had owned for over 17 years. He adopted this idea of debt free living and is living what seems to be a less stressful and more secure work and home life.
Total Money Makeover is Dave Ramsey’s is a book on using some of his financial fairly simple principles of money management. The process is summarized like this: first save a $1000 emergency fund, second eliminate all debt except for house payment using the debt snowball, third finish the emergency fund 3–6 months of expenses, fourth invest 15% into retirement and start a college fund, fifth pay off your home mortgage, and finally build wealth without going into debt. The idea of this “debt snowball” strategy has been written a...

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