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A friend of mine bought me Dave Ramsey’s book Total Money Makeover, and I started reading it recently on my spare time. My friends had followed this book to the T, and have confided in me how their lifestyles are dramatically better now as a result. As like any normal person I have my fair share of debt and am reading the book to see what is the logic and secret, but there is none of course. This book is about how showing you that discipline and sacrifice now can lead to a better lifestyle later.
The books mantra written on every page is “Live Like No One Else Now, So That You Can Live Like Nobody Else Later” and is all about how if you strip all of your income that goes to trivial stuff, and consolidate it into debt payments, you can become debt free. Sacrifice by getting only what you need, not what you can afford or not afford, and live by the cheapest means necessary. (Do budget some luxuries, but emergency fund and debt reduction are top priority). It is a typical snowball debt reduction strategy that is common sense, but the problem is few people can abide by it.
Americans are too lazy and have gotten used to buying too much on credit, we don’t want to wait 6 years to get a new TV, we don’t want to save up for 8 years to take a trip to Hawaii, we want what we want and as soon as we can. The thinking is this, I may not live to see 40, I may die of a car accident tomorrow, and I would have missed out on what I could be doing today.
I have a more moderate view, while I realize that anyone who follows this book to the T, will likely be debt free and very well off, depending on how long that takes, they may miss out on memories and living life now. I am trying to balance some of the things in this book with the reality that I have a family with two young kids, and I have to make some exceptions to keep everyone enjoying life. I still think it is a very good read and anyone who is in any debt at all, or has trouble balancing their budget should read Dave Ramsey’s Total Money Makeover.
Follow it as closely as you can and it will work very well, I know people who have and are doing very well off by following Dave Ramsey’s advice.
I mean it everyone including myself needs to put their debt on a diet pill, so that you can enjoy life a little more and not be so stressed out financially. Nothing is more painful and discouraging than to get paid and then have nothing left over to save or have some fun money. When you are upside down and owe more than you earn you can be tearing your hair out.
-Justin Germino
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