Dave Ramsey's books

[goingout]

I've heard his books mentioned on a few web sites and so I am reading the reviews on amazon. I'm not sure which book is going to be most appropriate for our situation. I'm looking at his "Total Money Makeover" book and "Finacial Peace". From the reviews they both look like they'd be helpful. Any thoughts or recommendations? I really want DH to read and learn to change the habits that have gotten us into this bk mess.

[sunshine mary]

I've read the total money makeover and thought it was really good..it is a plan for saving and having $$ in the bank and $$ for retirement ! I liked it.

[ThreadsSnapping]

I would start reading with Financial Peace and then read Total Money Makeover. Financial Peace is the big picture book and Total Money Makeover is the "how to" book.

If your not sure which one you want to buy, you can check them out of the library. It will give you a chance to see if you like the books before spending any money.

TS

[arkienurse]

If you wish to have your own copy, Dave often runs specials on his website, especially around holidays(labor day, thanksgiving, etc) where you can get any book on his website for $10. I took advantage last labor day, and bought my own copy of Total Money Makover, as well as copies for each of my 3 grown kids, gave them as Christmas presents.

[goingout]

I got "Total Money Makeover". It looks like exactly what I was looking for. I think I already know what to do. It's putting the good advice and plans, or common sense, into action that we need help with.

[epiphany]

I had never heard of Dave Ramsey before I came to this board and haven't paid much attention to the posts about him. I saw him on a news commentary for the first time yesterday and thought he was only telling half truths. He was talking about the high price of gas and that all you had to do to accomodate it was to cut out your lattes, bottled water etc. He basically said you can figure out how to pay for the gas and you'll be fine....he even sited the barrel prices of lattes and bottled water. We just all need to adjust.

He never even mentioned, and neither did the interviewer, that the cost of everything was going up because of the gas hikes or suggested a way to deal with that.


I know absolutely nothing about him, but it made me wonder whose pocket pal he is 'cause he definitely seemed to be sniffing some lint.

ep

[bal_ny]

He was talking about the high price of gas and that all you had to do to accomodate it was to cut out your lattes, bottled water etc. He basically said you can figure out how to pay for the gas and you'll be fine....he even sited the barrel prices of lattes and bottled water. We just all need to adjust.

I really hate advice like this. What about those of us who've never been to a Starbucks and think the water in our wells is just fine and dandy? It seems like every time there's an article about saving money, it recommends cutting out stuff I've never bought in the first place. Not a whole lot of help.

[goingout]

I can't comment a lot because I've only read part of the first chapter. I think what advice like this is getting at is that many of us have things we pay for that we may not really need. I think it's about taking a hard look at your spending, breaking it down, and asking yourself what do I really need and what can I live without just fine. For instance, I have realized that I am paying for the most expensive phone service and I rarely use the phone. I really don't need the answering service and the caller id either, especially since I also have a cell phone.

I have found, since I have really had to work at getting my costs down, that there is a lot of fat in my budget that I really hadn't realized before. All those 5 dollar little expenses can add up.

[Footprints1973]

I haven't read any of his books, but I have read comments about them. I got the impression that he was, how shall I say, "anti-filing-for bankruptcy, shame on you" type of thing. Is this true?

Would these books be of any help to those of us who are already/have already filed for bankruptcy?

[arkienurse]

I haven't read any of his books, but I have read comments about them. I got the impression that he was, how shall I say, "anti-filing-for bankruptcy, shame on you" type of thing. Is this true?

Would these books be of any help to those of us who are already/have already filed for bankruptcy?

Laura

If you want tips on ways to avoid finding yourself back in the same boat again in a few years, I think you would find his books helpful. I recommend either Financial PeaceRevisited or The Total Money Makeover.

And he is having a 10 dollar sale through July 8th, so if you are interested go check out his site.

[sunshine mary]

HE himself filed for BK and he doesn't recommend filing...Me I tried doing his plan but I was in way to deep and too far behind and I needed a life raft NOW !! LOL !!

[ameliabedilia]

I don't have a huge problem with Dave Ramsey. I like most of his advice except that there are many people that are trying to avoid bk at all costs when financially it does not make sense to keep trying to pay these debts.

A person with children should not work two or three jobs (as Dave suggests)to pay off a huge debt that could take 10 years or more to wittle away. Kids would never see their parents. That way of thinking causes all kinds of stress that harms families and health and wellbeing.

I also don't like the fact that you have to pay to use his forums. I feel like that's just cruel, especially when his books do so well. I do believe that if it were another pay website, Dave would say to cut it out of the budget!

[BK2008]

I
A person with children should not work two or three jobs (as Dave suggests)to pay off a huge debt that could take 10 years or more to wittle away. Kids would never see their parents. That way of thinking causes all kinds of stress that harms families and health and wellbeing.

He also doesn't address...that if you have kids, and are working that 2nd or 3rd job, who's minding the kids?? And how much of that 'extra' income is going to be offset by the additional daycare costs?? And how much income tax is going to tax a bite out of that 'extra' income.

Not all of us have spouses, or family nearby to 'dump the kids on'.

So it might sound good in theory, but in practice....

[goingout]

Having read some more I want to add that he recommends working 2 jobs etc. only as a temperary measure. He says it should take you 18 to 24 months to pay off your consumer debt, by working more, stopping savings, and cutting back on expenses. He doesn't go into a lot of detail on what to do if you've done all that and still can't pay off the debt in 18 to 24 months. My conclusion is that in that instance bankruptcy should be considered as an option. So, this is us.

I don't think he's anti-bankruptcy, but he does offer another option for some. I think too, what he teaches is valuable. It's hard to find one place to learn about personal finance that's easy to understand.

[momof2furbies]

I just recently caughted his show on television, and he does not impress me. Along with working two or three jobs, overtime, collecting cans, he also mentions to sell the cars if there is a car payment. Well, NO DUHHHHH, sell the cars??? What if you are upside down on the cars? Then what? I think in this day and age, and this economy, he is extremely unrealistic.