Book Review: Total Money Makeover

I’m a 28 year old that has never really been that good at money. So when things sort of hit a point where I’m realizing I need to make some changes and get my act together, finally, I recalled my coworkers preaching for ages about this book by Dave Ramsey.  I’d resisted for the longest time as I’m not one to gravitate towards self help books.  Finally,  I hit up the audio book, and gave it a shot.

At first you’re going to find Ramsey over the top.    You can tell this guy  believes his own snake oil, whether you believe him or not.  He has a background story to support where this method came from, and it seems, a financial radio show that he also promotes his methods through.  The first disc and a half (of a three disc set if you get the physical copy) seems more of a prep course for the main steps.  It feels like he takes all of this time to sell you the book you already bought.

When you finally get to the guts of the book, the process, it’s as you would expect.  Stuff that should have been common sense to most laid out in front of you.  First with the concepts of establishing your Emergency Fund, and how you should go about tearing down your amounted debts.  Attacking you’re mortgage (and takinng care of all of that in about 7 years).  Then, we move on to amassing for retirement, children’s college, and so on.  But by that time, maybe you don’t need this sort of advice anymore.

There’s certainly a bit of a religious undertone to this book.  At first, it feels like you’re being preached the religion of money and how to use it effectively.  We get a bit of a wrap up toward the end that brushes off that impression, insisting that the act of debt itself is devil’s play.  A concept that doesn’t seem too far from the truth in a day when college kids commit suicide to escape thier ill gotten credit card debt.

Overall, this book matched the high recommendation that brought it my way.  It’s just the thing you need if you’re fed up with doing things the wrong way and trying to get on your feet in this unfortunate economy.

Thanks to Jenda, I was introduced to another blog on financial matters, and hence, a more concise review of this same book by someone far more versed on the matter than I.  Headover to The Simple Dollar to check it out yourself.