Book Review: 4 Reasons To Read The Total Money Makeover After Shopping on Black Friday
- Christina Rising
- Nov 25, 2018
- 4 min read
This week I decided to read "The Total Money Makeover" by Dave Ramsey since Black Friday just passed and Cyber Monday approaches I think its important to make sure my finances are in order. Especially since I may have spent a little bit more than I anticipated with some of these amazing sales, but from reading this book it has honestly changed the way I look at money and even planning for retirement. So in this book review, I will be discussing why this is the ideal book to help you manage all of your money. I will be discussing Dave's Life With Debt, Give Every Dollar A Purpose, Financing Is A Trap and Debt-Free Living. And be sure to read my last blog on Rising to Be Thankful: Reasons Why I'm Thankful This Thanksgiving Season.
Dave's Life With Debt
At the age of 26 even though Dave Ramsey was making $250,000 and although he was making that must he also accumulated a lot of debt. Having nearly $4 million dollars in real estate and in 2 1/2 years later he and his family lost literally everything in their name. And didn't share this part of their life with anyone, and later discovering that other people had been through it and was going through it as well. Which just made me think about how people who appear to have it all really don't and they are actually broke people.
Once the Ramsey's had lost everything they were determined to figure out how they get a firmer grasp on their money. By reading lots of books and asking people who are richer than them for advice, which forced them to see that they have been their worst enemy with their money problems. And from solving their own money problems they also began to assist others with their own financial issues and created Ramsey Solutions in 1992.When Dave talked about surrounding yourself around people who are winning the game, it affirmed my understanding in this powerful tactic.
Give Every Dollar A Purpose
From using Dave Ramsey's Every Dollar App, it allows you to add purpose to each and every dollar you have. The book talks about planning the month in advance with a thorough budget, and I have to say it definitely works. It also makes me feel like more of an adult by creating a budget and sticking to it and making sure that I plan for my future by setting up an emergency fund.
Because whether I'm ready or not for bad things or emergencies they will still happen and in order to take care of them it highly have money for these situations. And even starting early by saving for retirement, because apparently the earlier you start the more money you will have saved up for when it is time to retire. Which is important to me because I definitely don't want to be working a minimum wage job; when I am like 89 years old when I should be taking it easy and vacationing around the world.
Financing Is A Trap
One major thing that surprised me the most from reading this book was how financing things in your life will have you paying double and triple for stuff. Which is absolutely crazy since often times we are buying new things to impress people or even our social media followers and how we are essentially renting our lives.
Dave's story on how he and his wife went to buy a purse and how they shocked a salesperson by not wanting to use a credit card for the purchase. So they decided to pay for his wife's bag and another women's handbag as well, leaving the salesperson in shock since they decided to pay in cash. And how they shocked another salesperson by paying for a car in full, even though the sales person kept insisting the dealership amazing leasing options.
Debt-Free Living
As crazy as it may sound from reading this book when they talked about getting through the Baby Steps and no longer owing people money is freeing. Debt can often times break up marriages and cause a lot of stress on someone and I have to agree. Because although I am in college I always have that thought in the back of mind about having to pay back all of the money I borrowed to invest in myself and my degree. From basically having this rain cloud following me around I know that I am definitely going to pay off this debt using the debt snowball plan. And there is just something inspiring about knowing once I pay off this debt, I will have so much more freedom and more control of my money. I would be able to give to people in my life and to go on shopping sprees without looking at the price or thinking of how I can make back all the money I just spent. And to help me definitely step into the investment world without losing all the money I invested and making sure that I will actually see a return or dividends from it.
Would I Buy Or Read Again?
I definitely see myself buying this book and any other books that Dave Ramsey or even his daughter Rachel Cruze has written, I honestly feel like are they written to sustain your lifestyle. I don't just want to buy the book I want to enroll in Financial Peace University so that I can have access to everything I need to keep my finances in order.
Catch up on my last blog on Rising to Be Thankful: Reasons Why I'm Thankful This Thanksgiving Season.
If you have any book suggestions add them below in the comments, and look out for new book reviews every Sunday. And remember “As we ‘Rise to Be’, we are becoming who we want to be” -Christina B. Rising🤗
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