Customer Reviews:
Showing reviews 1-5 of 625
 Good advice and fun reading, but not perfect July 31, 2010
Bibliophile (Houston, TX United States)
Dave Ramsey lays out common-sense advice, such as to live within your means, as part of a straightforward seven-step plan. The plan is a good, basic, and as easy to follow as a personal financial plan worth the paper it's printed on can be.
The one major flaw is the advice to pay off one's smallest debts first, regardless of the interest rate. No matter how big the debts in question, it is always cheaper to pay off the highest-rate debt first. Dave is absolutely correct that his advice is the right advice for people whose basic problem is behavioral -- just getting started on a debt-reduction plan. His advice provides great, immediate, positive reinforcement. It is not good advice, however, for people who are basically responsible, but have significant debt either because of past medical emergencies or student loans, nor is it good for someone who has debts with a large range of interest rates. For example, assume you have a $20,000 car loan at 4% and a $25,000 home equity line of credit at 8%, each has a five-year term, and you have an extra $400 per month to pay down your debts. Following Dave's advice would cost you $865.04 in additional interest and take a month longer than if you had paid off the HELOC first. If you have the discipline to pay off debts either way and can handle not getting immediate results from paying off small debts faster, you would always be better off paying off higher-interest debts first. If you lack that discipline, well, then, Dave's plan is excellent.
I am a big Dave Ramsey fan. I think the preceding paragraph is a necessary footnote to my enthusiasm, since there is a lot of confusion about interest and debt these days. That said, this is a good read for anyone.
The Total Money Makeover July 24, 2010
Audrey A. Hall (Wyoming)
Dave Ramsey's plan is very common sense and easy to follow. No need to be a financial genius. I recommend every single person (business and government too!!) follow this plan and our country will eventually be back on its feet.
Saved my life July 20, 2010
Quina Quen
1 out of 1 found this review helpful
This book isn't for everyone obviously. But for me, a recovering "chronic consumer", this was what I needed in order to change the course of my life, and it did.
I can't say enough good things about this book. The examples that he presents are inspiring, witty, and matter of fact. Since reading this book about 3 years ago, about 6 months before I married my wife, we have paid off about $XX,000 in credit card, student loan, car loan, and medical bill debt. We have more money than ever in the bank in case of emergency and peace of mind that is worth a lot more. I'm going to be starting graduate school soon and from the looks of it, I'll graduate debt-free with a Master's degree. We haven't used a credit card for 3 years. Some people are stunned when they find out we don't have credit cards. They ask "but what about emergencies?" We no longer spend more than we make.
I can't read the future, but if I don't fall into my old ways (and it's been 3 years so far), my family and future family have changed their fates.
If you have unlimited self-control (be honest), enjoy gambling with your family's future, and think you're the exception to the trend of the average American consumer, then this is not the book for you.
If you have a weak spot for over-spending and are man/woman enough to admit it, want to enjoy a low-risk 99.5% sure way of living a comfortable life, and you if don't mind a bit of hard work and the occasional bible verse, then get this book.
BEST BOOK YOU CAN BUY TO CHANGE YOUR LIFE! July 17, 2010
L. Lewton
The Total Money Makeover has not only changed my entire life, but it has changed the lives of all of my friends and family. After we purchased the book, we bought it for loved ones because of the affect it had on us. It's a great prelude to the course "Financial Peace University", which is free (you just have to purchase the class materials for $99 and can share them with someone). Dave is a nonsense straight forward guy. The book is written at a 6th grade reading level with big font. It's easy to understand and implement - but you have to make a choice to implement what you read. Remember it can take anywhere from 30-90 days to make something a habit. You will feel convicted and it will be a good thing. Change your life, change your future and start right now. There's a reason why he has a radio show, t.v. show, podcast and is on the New York Times best sellers list! Read it!!!! IT IS AMAZING! BY FAR THE BEST BOOK I HAVE EVER READ.
 Insightful July 16, 2010
J. Mueller
0 out of 10 found this review helpful
This is an insightful book that gives you many options to help increase your wealth.
Very easy to read and understand.
Showing reviews 1-5 of 625
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