Monday, December 24, 2012

The Total Money Makeover

Dave Ramsey’s Fundamental Financial Teachings:

  1. Money problems can be solved by adjusting one (or both) of two parts of an equation: income or spending.  When you are in debt you need to either cut your spending or make more money.
  2. The accumulation of stuff can really weigh us down.  Often financial struggles can be resolved by amputating things we have accumulated.
  3. Credit cards have absolutely no place in the pocket of a financially contentious person.
  4. People who are winning financially keep a budget.
  5. A home should only be purchased when you have at least 20% down (thought Dave himself only buys homes 100% down) with your payments (including insurance and utilities) no more than 25% of your take home income.
  6. All people should be saving 15% of their income towards retirement.

Remark: Hardcover

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