Thursday, November 29, 2018

The Total Money Makeover: A Proven Plan for Financial Fitness - Dave Ramsey

This was both an invigorating and depressing read given that I'm currently unemployed.  On the up side, I've already done most of the hard lifting.  This book is written for people drowning in debt, which I am not. So I'm already better off than 99% of the people that pick up this book.  It is a great system and I was particularly fond of the author's in-your-face style. So many people blame anyone and everything else for their financial woes, when really, it always comes back to you and you alone. I witnessed this with one of my relationships.  It was always everyone else's fault but his and never his own outrageous spending habits. People use everything from not admitting their laziness to God or bad luck as an excuse to not take control of their own lives.  The best part was the author directly saying this is your fault that you got in this mess, but that means you can also get yourself out!
Now, I could have skipped most of the book because I don't have any debt right now. But that's the best part of this book. Ramsay's debt destruction advice is great, however his investing advice isn't as great. It's perhaps good for people who are newly to having extra money, but I'd like more aggressive tactics.  I've read other people have some better ideas for growing, but no one seems to have a better get-out-of-debt plan, so I still greatly appreciate this man for his ability to help the people who need it most.
As far as my current situation is concerned, I was disappointed that most of his advice wasn't applicable. "Get a second job." I can't get a first job! "Sell that stuff." No one wants my stuff because I don't have anything expensive to begin with.  I can't sell my stuff for 2 or 3 dollars! (I know this because I have been trying.) "Live frugally." Last month I spent a whopping total of $100 on groceries! I don't know how I could get any cheaper than that without stealing.
I would recommend this book to anyone who has debt, even student loans and mortgages.  It's got some great ideas to kill that debt fast so you can start making your money work for you instead of someone else.

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