Wisdom for Life | Total Money Makeover Animated Summary @wisdom-for-life | Uploaded January 2017 | Updated October 2024, 24 minutes ago.
This is an animated book review of The Total Money Makeover by Dave Ramsey.
Debt sucks! It really, really sucks. I’ve been there (over $40,000 in the hole, with nothing to show for it) and it’s depressing as hell! It truly is a suffocating feeling… But, with patience and a few smart practices, it can be overcome.
I just finished Dave Ramsey’s book – The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness. I really enjoyed Dave’s no nonsense, simple approach. Below I have outlined his 7 steps to a total money makeover. They are extremely simple, but the catch – it will require time and patience (which is to be expected). Dave repeatedly states that you shouldn’t expect to get out of debt overnight with some debt consolidation scheme. Stay away from those! Getting out of debt really requires you to budget, spend wisely, and make consistent payments. I think it goes without saying (but I’ll say it anyways), you should have a written budget. Sit down and write out your expenses and figure out where you can cut costs. Keep your receipts for a month to see where you are spending and wasting money. Once you start analyzing where you are spending your money, you may be surprised. Additionally, only use cash when making purchases. It’s much harder to spend cash when it’s in your hand because it is tangible, whereas putting it on a credit card isn’t very tangible.
Without further ado, here are the 7 very, very simple steps:
1 - save $1,000
2 - pay off all your debts
3 - save up enough for an emergency fund (3-6 months expenses)
4 - invest 15% of your houshold income
5 - start a college fund for your children
6 - pay off your house
7 - build wealth and give
Get more wisdom at my blog - wisdom-for-life.com/get-out-of-debt-and-save-for-your-future
PACIFIC SUN by Nicolai Heidlas Music soundcloud.com/nicolai-heidlasCreative Commons — Attribution 3.0 Unported— CC BY 3.0 http://creativecommons.org/licenses/b...Music provided by Audio Library youtu.be/kbqmEJTr3nU
This is an animated book review of The Total Money Makeover by Dave Ramsey.
Debt sucks! It really, really sucks. I’ve been there (over $40,000 in the hole, with nothing to show for it) and it’s depressing as hell! It truly is a suffocating feeling… But, with patience and a few smart practices, it can be overcome.
I just finished Dave Ramsey’s book – The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness. I really enjoyed Dave’s no nonsense, simple approach. Below I have outlined his 7 steps to a total money makeover. They are extremely simple, but the catch – it will require time and patience (which is to be expected). Dave repeatedly states that you shouldn’t expect to get out of debt overnight with some debt consolidation scheme. Stay away from those! Getting out of debt really requires you to budget, spend wisely, and make consistent payments. I think it goes without saying (but I’ll say it anyways), you should have a written budget. Sit down and write out your expenses and figure out where you can cut costs. Keep your receipts for a month to see where you are spending and wasting money. Once you start analyzing where you are spending your money, you may be surprised. Additionally, only use cash when making purchases. It’s much harder to spend cash when it’s in your hand because it is tangible, whereas putting it on a credit card isn’t very tangible.
Without further ado, here are the 7 very, very simple steps:
1 - save $1,000
2 - pay off all your debts
3 - save up enough for an emergency fund (3-6 months expenses)
4 - invest 15% of your houshold income
5 - start a college fund for your children
6 - pay off your house
7 - build wealth and give
Get more wisdom at my blog - wisdom-for-life.com/get-out-of-debt-and-save-for-your-future
PACIFIC SUN by Nicolai Heidlas Music soundcloud.com/nicolai-heidlasCreative Commons — Attribution 3.0 Unported— CC BY 3.0 http://creativecommons.org/licenses/b...Music provided by Audio Library youtu.be/kbqmEJTr3nU
