Book Review: The Total Money Makevover
November 24, 2009 | Posted by Brad Chaffee 
What is The Total Money Makeover? Basically, it is a system designed by Dave Ramsey to help you become more self-sufficient with your money.
The book is very motivating and Dave Ramsey has a way of making you see the importance of addressing the money behaviors that have led you to your current financial situation.
His motto, which is all throughout the book is:
“Live like no one else, so later you can live like no one else.”
In other words, make the sacrifices and prepare now, so that later you don’t have to.
In the first part of the book, Dave takes you through all of the debt and money myths you’ve come to know as truths, and he debunks them. Myths such as “debt is a tool”, and “you have to borrow money so you can build your credit score”. He takes you through them one by one and enthusiastically explains why they are myths, and why you should decide to be weird.
“Normal is broke…be weird.”
The next part of this book is the process that will help you get out of debt, while helping you prepare for the future. He calls them baby steps and the idea is that you focus on one thing at a time, instead of trying to take on the monster that is your finances all at once. Slow and steady with focused intensity.
“We don’t sell microwaves, we sell crockpots.”
Dave Ramsey’s Seven Baby Steps To Financial Independence
- Baby Step 1 – Save $1000 fast for your baby emergency fund.
- Baby step 2 – Pay off your debt using the debt snowball method.
- Baby Step 3 – Finish your emergency fund by saving 3/6 months of expenses.
- Baby Step 4 – Save 15% of your income for retirement.
- Baby Step 5 – Save for children’s college fund if applicable.
- Baby Step 6 – Pay off your mortgage early.
- Baby Step 7 – Build wealth and give!
The Total Money Makeover
“Managing your money is 80% behavior, and only 20% head knowledge.”
I highly recommend this book to anyone who has found themselves in debt, and is looking for a much better, less stressful way to live. Society says you must have debt to be something, but I am here to tell you that is nonsense.
If you are tired of being slave to the lender, you would be doing yourself a great disservice by not giving this book a chance. Find out for yourself why the grass is greener on the other side. Society is not going to pay your debt off, so stop doing what society says is normal, because society is BROKE.
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Brad Chaffee is the Enemy of Debt, and a regular contributor here at the Self Reliance Exchange. Brad has lived without credit cards since March of 2008, and has recently become debt free by paying off $26,076.75 of debt in 20 months. Learn more about Brad by reading his bio. You may also contact him here.
Categories: reviews | 
Tags: book review, Dave Ramsey, self reliance, The Total Money Makeover | 
3 Comments »
Great post. I read something like this on your other blog. That day I decided I was sick and tired of being in debt. I called my library to reserve the book. Once it was ready I read it, took note and made copies of pages to help. I played with my spreadsheets and within a month I had $1000 in saving and I am now working full force at my debt. It is a lot of discipline but I am loving the feeling that the light at the end of the tunnel is getting brighter. The stress level is down and keeps working its way down.
I am not scared of the holiday time because I have money saved in a Christmas account, so my budgeting will continue and will not be effected by Christmas time.
I highly recommend the book to anyone else in debt. Once you tell your money where to go you will be amazed by the money you “find”. That money would have been blown on getting my butt bigger but now it is sitting in savings getting my wallet bigger.
Thank you Brad and Dave.
You know I am with you on this one, Brad! This book is life-changing if you allow yourself to be a bit counter-cultural and follow its common sense advice. Debt sucks!
Money Momma – WOW! That is some testimonial, I LOVE IT! Congratulations on giving yourself the gift that will keep giving—debt freedom. You are doing such a great job, keep up the hard work. I promise it feels as good as, if not better than, you think it will feel. Debt freedom is worth EVERY ounce of sacrifice you may make to achieve it.
Please keep me posted on your progress. Perhaps when you become debt free, you could share your experience with my readers. I started a new series to allow others to share their journey.
Debt Free News From A Debt Free Reader #2
Dustin – You are right Dustin—DEBT SUCKS!!! Thanks for stopping by my friend!