I Finally Checked out The Total Money Makeover
After hearing two friends talk about Dave Ramsey (one about Financial Peace University, the other about the radio show) I decided to check out some of Dave Ramsey’s work. That is, from the library. I started with The Total Money Makeover Workbook
on Thursday and then moved on to The Total Money Makeover
this weekend. I think that both books are valuable resources. If you only want to read one of those two, the workbook is the one to get.
It’s almost literally a condensed form of the book, minus a lot of the personal success stories and a variety of quizzes and worksheets. I’m not sure I agree with some of what he says — such as paying debts off in order from smallest to largest regardless of interest rate (because I couldn’t bear to pay a lower interest rate debt off before a higher interest rate one if they happened to fall that way) — but I can see why he says it and it’s probably a good idea for a lot of people. I have the feeling Dave Ramsey is pretty charismatic, because the ideas in his book are pretty straightforward, and I can’t see all the excitement based just on books. Still, straightforward is great, especially if it helps people get out of debt.
I think Dave does much more good than harm. That being said his ideas are VERY outdated. I do know a few people who might be able to pull off the envelope budget method that he is promoting. But those folks are few and far between.
I loved the book and its application in my family’s life has been wonderful.
To answer Berry, we’ve used the envelope system for about two years now and it’s been amazingly better than using debit cards for everything.
And Berry’s right, common sense is pretty outdated.