Dave Ramsey's Total Money Makeover

(Betsy): As you know from our first post, reading ten books together made it on our 30 list. I am a self proclaimed book nerd, and, as it turns out, Scott really enjoys reading too. In fact, we read at least 15-20 minutes together every night, so I predict we will be able to cross this off our list in no time. We are currently reading our book #3 together.

Before I get into the details of Dave Ramsey's Total Money Makeover (book #2), let me just say how amazing it is to read with another person. Scott and I take turns reading out loud; usually, we swap each chapter. While I admit this is entirely nerdy, I also assure you that it is completely worth the torment and teasing you may receive from onlookers :) Scott and I have had so many quality conversations that have stemmed from reading together. We have found that it is a great way to connect intellectually, and we would recommend it to all couples.

On with one of the most important books that I have ever read....Dave Ramsey's Total Money Makeover. What a great read for people of all ages! Dave Ramsey is a Christian financial advisor (you may have heard him before on his radio show, The Dave Ramsey Show) who bases his teachings on simple and practical methods. He presents his readers with a straightforward technique to get out of debt and build wealth using what he calls the "baby steps". He is unlike other financial advisors because he does not promise quick money; rather, he stresses that wealth is built over a lifetime.

Perhaps the most important idea Dave teaches is the principle of living debt free. Somehow, between our grandparent's generation and our generation, the idea of saving and paying cash for items has been lost. The majority of us have car payments, credit cards, and student loans, and in Dave Ramsey's eyes, this is unacceptable, even foolish.

Many of us have our objections (Scott and I included)--"credit cards are safer than carrying cash", "car payments are a way of life", "you need a credit card to rent a car." And, many of us have the mentality "I want it, and I want it now." I am absolutely guilty of that. However, I challenge each and every one of you to pick up a copy of The Total Money Makeover and see what Dave Ramsey has to say. I believe it to be a truly life-changing read, and I am positive Scott would agree.

After reading the book, we are so motivated to become and remain debt free other than a mortgage (also on our 30 list), and we are agressively attacking the debt we have now (a car payment). We have adopted a completely different attitude on how we look at money, and moreover, at life. We are now both willing to live below our means even if that means driving old, used cars and not having the newest and coolest gadgets. Additionally, we have created a budget together, and believe it or not, it has been a great time! Instead of spending carelessly and wondering where our money is going, we now have a plan to pay off debt, save, and eventually build wealth. We have set up monthly "meetings" at Starbucks where we evaluate our progress, and that time together is so meaningful and even fun.

Recently, we attended a preview class for Dave Ramsey's 13 week Financial Peace University, a class dedicated to thoroughly teaching Dave's proven plan to financial success. As we were getting onto the elevator, an older couple (I would assume in their mid 60's) hopped on with us. The woman looked at Scott and me and said "boy do I wish I'd known about this class and these theories when I was your age." Her husband nodded his head in agreement. That brief conversation reinforced the importance of learning about finances early on.

We start Financial Peace University Ausust 15, so I will keep you posted on what we are learning. Meanwhile, I encourage each and every one of you to go read The Total Money Makeover. I promise it will be worth your time!

We will be posting soon about Gary Chapman's "Love Languages" (also an amazing book!) and our white water rafting trip...stay tuned!