![]() ![]() Step One: Save $1,000 as a Starter Emergency Fund No complaints here. ![]() Although there is some good advice presented throughout the book, I recommend anyone planning to follow Ramsey’s recommendations first read my review of “Step Four,” as the advice in this area could easily lead to financial disaster. Let’s go through the steps recommended by the book and I’ll highlight what I found to be good and bad. The book is written from the perspective “that personal finance is 80% behavior and only 20% head knowledge.” This concept rings true but I think it may also explain why Ramsey chooses some less-than-efficient recommendations for his readers. ![]() However, the recommended paths to accomplish financial freedom are definitely not the most efficient and in some instances the advice is outright dangerous. I love this message and think it is a great recipe for success. The basic message of the book is to live below your means, don’t take on debt, and be disciplined. I have been asked my opinion on Ramsey’s philosophies by a number of clients, prompting me to read his book. Devin Wolf, CFP® Dave Ramsey is a well-known financial author, radio host, TV personality, and public speaker whose message focuses on getting out of debt and building wealth. ![]() Book Review: The Total Money Makeover 3rd Edition, by Dave Ramsey Reviewed by: W. ![]()
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