FREE DOWNLOAD ´ The Total Money Makeover A Proven Plan for Financial Fitness

READ & DOWNLOAD The Total Money Makeover A Proven Plan for Financial Fitness

FREE DOWNLOAD ´ The Total Money Makeover A Proven Plan for Financial Fitness ☆ If you will live like no one else later you can live like no one elseBuild up your money muscles with America's favorite finance coachOkay folks do you want to turn those fat and flabby expenses into a well toned budget Do youIf you will live like no one else later you can live like no one elseBuild up your money muscles with America's favorite finance coachOkay folks do you want to turn those fat and flabby expenses into a well toned budget Do you want to transform your sad and skinny little bank account into a bulked up cash machine Then get with the program people There's one sure wa. Ramsey presents some sound financial principles in the book but it came across as a sales pitch because he mentions his other books and live events and practically every other page contains a lengthy testimonial from people gushing about their Total Money Makeover I skipped all of these since I'm looking for practical financial advice not feel good storiesI respect Dave Ramsey as a person and agree with many maybe most of his financial principles but I didn't like Ramsey's strict no debt stance The only exception he allows for is a 15 year fixed rate mortgage Although I agree that most people are better off avoiding credit cards because they can't resist the temptation to abuse them I like to use cash back and other rewards cards to pay for the things I'd be purchasing anyway I don't think I spend money simply because I charge purchases rather than dropping cash or using my debit card For example I paid my college tuition on my credit card and earned 1% cash back on thousands of dollars I also charge all my gas purchases and make 5% cash back Did I spend on tuition or drive than necessary because I had charged those purchases instead of paying cash I didn't perform a scientific experiment to determine that but I'd guess notI've also reviewed the abridged audio versionThe Steps of the Total Money Makeover1 Set up a 1000 emergency cash fund Sacrifice work extra hours and sell stuff to get the money Keep as paper bills or in a savings account Don't put it in checking or any other account or investment2 Pay off your debt snowball List your debts smallest to largest Pay them off3 Finish the emergency fund Must cover 3 6 months of living expenses 3 months if you have a truly steady job otherwise 6 months 5000 25000 Put in Money Market with no penalties and check writing abilities4 Invest 15% of gross income in retirement Don't count any company matched funds Don't count on Social Security Use these accounts in this order 1 401K if company matches 2 Roth IRA 3 growth stock mutual funds 25% large cap 25% mid cap 25% international 25% smallemerging5 Save for college for your kids Use these accounts in this order 1 Educational Savings Account ESA in a growth stock mutual fund 2 If you want to save use a flexible 529 that allows you to choose your funds 3 Scholarships 6 Pay off the house mortgage Spend every extra dollar you have left after setting aside for living retirement college and mortgage Don't keep a low rate mortgage just so you can invest at a higher rate After you pay taxes on your investment returns and factor in the additional risk that the mortgage debt brings it's not worth it In the long term you'll come out ahead by being debt free7 Build wealth At this point you're completely debt free The next step is the Pinnacle Point when your money makes than you do There are 3 good uses for money 1 Fun Guilt free enjoyment if you can afford it 2 Investing Think long term Don't try to time the market Choose simple mutual funds and debt free real estate 3 Giving Giving it away can be the most fun you have with your moneyAdditional adviceWinning at money is 80% behavior and 20% head knowledgeIf you will live like no one else later you can live like no one elseDebt brings risk not prosperity You can't leverage debt to build wealthYou don't need to build credit because you won't use it if you follow the Total Money MakeoverCredit card rewards aren't worth it You end up spending in unnecessary purchases and interest payments than you make back in rewards No one ever became rich from credit card rewardsChoose high deductibles for auto and home insuranceMake a willChoose a term policy not Whole Life or Universal Life insuranceDon't prepay your kids' college expenses You'll make higher returns by putting this money in mutual fundsBuy a house for 100% down or if that's absolutely not possible get a 15 year fixed rate mortgageYou don't have to wait until retirement to do what you love Get a job that you enjoyA college education improves the uality of your adult life and career But it doesn't ensure a job or successIf you have cash or a scholarship go to college But pay cash; avoid student loansDon't get a 30 year mortgage with the intention of paying it off in 15 years You'll find other things to spend your money on Having a 15 year mortgage forces you to pay off your home in 15 yearsDon't pay points on your mortgage since you're just paying interest up frontYour house payment should be less than 25% of your take home payDon't lend to friends If you must give your friends money give it as a gift Loans ruin friendshipsWealth will make you of what you are whether you're a jerk or a generous personThe love of money not money is the root of all evil You have a duty to possess wealth to ensure that it's used properlyRecommended percentages for allocating your moneyCharitable Giving 10 15Saving 5 10Housing 25 35Utilities 5 10Food 5 15Transportation 10 15Clothing 2 7MedicalHealth 5 10Personal 5 10Recreation 5 10Debts 5 10

Dave Ramsey  1 FREE DOWNLOAD

Y to whip your finances into shape and that's with The Total Money Makeover Classic EditionBy now you've heard all the nutty get rich uick schemes the fiscal diet fads that leave you with a lot of kooky ideas but not a penny in your pocket Hey if you're tired of the lies and sick of the false promises take a look at this it's the simplest most straightforward game. I read Financial Peace years ago We tried to live the plan but looking back we could have done a lot better The Total Money Makeover takes the same plan and breaks it down into detailed babysteps This REALLY works We've had our 1000 emergency saving account for years now and have hardly had to dip into it because we really think through what an emergency is Most of the time we have been able to wait a few weeks until the extra paycheck tax return or a bonus comes through instead of using our savings The debt snowball really works I was amazed when I saw how much money is going toward our last debt It will only be a few months to get it paid off Yes we did stop retirement for the past year it was a simple form to fill out at work and only took a couple minutes The money that was previously in our IRA is still growing but we're not adding to it right now When that debt is gone and we have our 3 6 month savings we'll start it up again What doesn't make sense is having debt when you retire and using your money from your 401KIRA to pay off the debtThis book is just common sense in a big way There is so much peace in being in control of our money and our marriage is so much better because we have GOALS that we plan together This book is a great gift for college graduations and weddings We buy it on Dave Ramsey's website when it goes on sale for 10 a copyUpdate June 2018I wrote the original post Jan 2008 We still follow this plan We've been debt free for the past 10 years no credit cards for even longer My husband started his own company debt free and has never borrowed money for it We paid for six vehicles in cash a dave car for my husband a family can then a truck to replaced the Dave vehicle one replaced the worn out family vehicle the others are the high schoolers and a college car Currently have 4 good running paid for vehicles We have paid college tuition missionary support and cash flowed a wedding Our only debt is our house It will get attention after our children are grown We've been amazed at what we can do by being intentional and planning large purchases vacations and budgeting


The Total Money Makeover A Proven Plan for Financial FitnessPlan for completely making over your money habits And it's based on results not pie in the sky fantasies With The Total Money Makeover Classic Edition you'll be able toDesign a sure fire plan for paying off all debt meaning cars houses everything Recognize the 10 most dangerous money myths these will kill you Secure a big fat nest egg for emergencies and retirement. I probably should have given this book than three stars because it's a good start to figuring out a critical piece of the financial puzzle; getting out of debt This book is debt centric so if you're in debt then yes you really should read this bookHowever while focusing on getting out of debt is a crucially important step of freeing up your income because if the money you make every month is spent every month you're not financially fit there are many aspects of your financial self that are not addressed in this book And while Mr Ramsey would probably tell you that these aspects of your financial self can wait until you're out of debt I don't think it's wise to procrastinate an awareness of your financial wholeThis is not to say that you should rationalize being in debt andor put off getting out of it; and Mr Ramsey has a sure fire way of doing that So to the person in debt the book does contain a money makeover plan; just not a total money makeover planIf you want a money makeover that is total you can combine this book with others or my sister Taibi has recommended a book called Making the Most of Your Money and she says it is a total guide to managing money I'm going to read it myself soon and I'll let you know how I like itOther books I would recommend about money; Money Harmony by Olivia Mellan and Secrets of the Millionaire Mind I'll post reviews of those separately