This is a great book to pair with the Dave Ramsey method. Ramsey repeatedly says you need to get control of your spending and YOU alone are responsible for that. He says you need a budget and to stick to it, but he neither outlines how to go about doing that nor plans well for the necessary plasticity of a living, breathing budget. This book picks up and details the how that Ramsey glosses over. There is a little philosophical difference in where to place all emphasis, but I would say if you follow Ramsey using this method to create and work your budget, most people would be all set!
The emphasis of this book is on how relying on a rigid budget is a set up for failure. You plan to spend only so much on food, go over the first month and immediately become disheartened. Not allowing for movement in your budget will set you up for failure before you begin. He also encourages re-making the budget regularly, even after the first month if it becomes apparent that the amounts are wildly out of sync with the real world, a common mistake. For example, the plan is to spend $350 on food each month. The first month comes in at $550. Obviously there is some major dreaming going on with that $350 figure. Asking why it is so difference is important, but if you can't hit to goal, even after trying, the budget needs to be re-made to account for the difference and cuts need to be made to other categories, or long-term goals have to be scaled back, one or the other. Stubbornly sticking to the first, unrealistic budget is demoralizing and after repeated failure will lead to giving up. The author pushes how a budget is a living thing that must reflect the living beings that created it and be flexible. Once a realistic budget is created, overspending is still possible on occasion. The author pushes pulling from another category for one-off incidents. This keeps the long-term goals on track.
The big difference between these two debt/spending management philosophies is when you get to have "fun". Ramsay hits hard that you do nothing until you're practically rolling in money. That's another great way to get burned out and give up. After creating a budget a person will have an idea of how far out their debt journey will take and when Ramsay says you can't enjoy life until you're there, years away for most people, makes it seem like you're never going to get there so what's the point of life? This book addresses that failing. The author still detests debt and promotes getting rid of debt above all else, but not at the risk of burn out and failure. Essentially, he encourages going hard at debt, but also include something you want in the budget. It gives you something to look forward to in the middle of the debt race, instead of the distant, seemingly unattainable, end. This makes far more sense to me. He encourages going all out to get a jump start like Ramsay, but emphasizes to set an "end date" for the money sprint before even beginning so it doesn't feel endless.
The other great bit about this book is there is a whole chapter about teaching children how to budget. I don't have kids, but everyone who does and wants to see their kids succeed should 100% read that chapter.
I would recommend this book to everyone who isn't rolling in money.
