Would you buy Dave Ramsey's book?

[TupperMom7]

I want to read Total Money Makeover and am on the waiting list for the library. On Ebay, there is a hardcover of this book in the 2007 edition, plus a workbook for $34.00. Is the book worth it? Do I need the workbook?
Should I spend the $34.00 or wait for the library to come through? Here I am wanting to start paying off bill and budgeting and the first thing I want to do it spend money on the book!

 

[Momto3Girls&Max]

Have you tried half.com? Usually they're a lot less $$ than eBay.

I would not spend $34 on the book, but that's me.

 

[NJGirl]

I got his book from his website a few weeks ago for 10 dollars. Lots of his books were 10 bucks. Keep checking his website.

 

[defendthehill]

I like Ramsey. Get it if you can for the 10 bucks from the PP. If not wait at the library.

 

[StephMK]

Do you have used book stores or Goodwills near you? I would check there before I'd pay that much. I got mine at a used store for $6-7.

 

[daleswife]

Wow, I found mine on Ebay for $10!!! I loved it. Its very worth it.

 

[mrsklamc]

check the status of the audiobook at your library, if that's an acceptable alternative for you. Usually I find the waits are much shorter.

 

[yooperfamily]

I bought it for under $20 @ a book store!

 

[ZacFields]

Dave Ramsey is an excellent teacher and I would definitely recommend his book. I actually had it at work for my employees to read until the floods came last year and wiped out our office in Cedar Rapids, Iowa (don't worry, I still work for the same company now and we're doing well in a new location!)

Now, my only advice with Dave Ramsey's book is that you've got to make his teachings work in the context of your life. Some of his advice may not be possible in your situation or may not be realistic. For instance, picking up a second job might not be feasible for a single mom with two kids, because the extra income may barely cover the childcare expenses that she would incur by having to work additional time. So there's no sense in getting down on yourself if some of the things he teaches won't work for you.

That being said, follow as much of his advice as possible, even if it seems unrealistic. The debt-snowball is a great idea that most people don't think of when they're paying off their debt. People tend to underestimate the benefits (and overestimate the "work" involved) in picking up a part-time job to help pay down debt. You'll have to do the math for your situation and figure out what the benefits would be.

Good luck to you! I bought Dave Ramsey's book when I was 21 because I had developed $13,500 in credit card debt (I was/am in college and also have a mortgage on a condo) and paid it all off before I turned 22! I was helped by a promotion at work midway through my payoff, but 90% of it was through diligent budgeting and saving.

 

[tonilea]

Dave Ramsey books usually sell around holidays for $10 on his website. The next one should be around July 4th.

We took the "Financial Peace University" class through our church. $100 well spent. It changed our lives.

 

[TnTWalter]

He runs promos all the time for $10 books [hardcover or cd]...I would do the library until a sale....

Listen to his free radio show [you can listen to all 3 hours online FREE and just scroll through commercials. I love to do while I clean the kitchen, or play online] for motivation.

We've been debt free since 2006 and it's WONDERFUL.

Prior to baby steps stop all extra savings for SHORT TERM [18-24 months at MOST]...thsi includes retirement savings, college savings, extra house payments, investments of any sort, etc.

If you tithe or give to charity that can occur while doing the baby steps.

Make a budget and COMMIT to it. If married, do this together. Spit shake and pinky swear that if it's not on this budget, it doesn't happen. If something comes up, you need to move numbers around before the purchase. He recommends cash. He has budgeting forms on his website....
http://www.daveramsey.com/media/pdf/fpu_qbudget.pdf

NOW THE STEPS

STEP 1 BABY EF [EMERGENCY FUND]
Quickly save up $1000 emergency fund

If any emergencies come up and you dip into it [and you will], stop where you are and replenish before going back to it. We had to dip into the baby EF a couple times while paying off debt.

STEP 2 THE FAMOUS DEBT SNOWBALL

Debt is anything you owe money on. Cars are debt. Student Loans are Debt. Credit Cards with 0% interest are debt. Debt is Debt. If you have a second loan or student loan that is >50% of your annual income, you may push it to step 6, otherwise, suck it up and pay it off....or consider selling a vehicle if it's too much for your income [you shouldn't have more than half your annual salary in vehicles..as they GO DOWN in value].

List Debts smallest to largest [don't worry about interest rate it's about intensity].....bring all payments to minimum [no extra to house or anything]....everything you have extra goes to smallest debt, once that's paid off, everything extra + what you were paying on smallest goes to next debt, now evertything extra + what you were paying on debt 1 and debt 2 goes to #3, etc.

STEP 3 EMERGENCY FUND .. 3 to 6 months of EXPENSES
Determine what you need to live on...utilities, gas, house payment, groceries...for 3 - 6 months and put this in a savings or money market account so it is accessible for emergencies. Don't touch it unless you have to and if you have to, replenish before you do anything else.

STEP 4 RETIREMENT
15% of your GROSS income into 401k, Roth IRA. If your company matches, great, that's extra, don't include in the 15%. So put into the 401k up to the match then ROTH until get to 15%, if there's more to go, back to the 401k.

STEP 5 COLLEGE
Start saving for college. There are many calculators out there that tell you how much to save based on kids' ages. This occurs while you are saving for retirement

STEP 6 PAY OFF HOUSE
Whenever you can add extra to payment for principal go for it....also if you have a second mortgage that's equal to 50% of your salary or more, it gets bundled here [pay it first].

THERE'S A 3B...I think...saving for new vehicle, roof, appliance, vacation, etc. If you know you need a new roof then you should throw everything besides retirement at what we call BUDGETED SAVINGS...our vacation, roof, new to us minivan goes here.

STEP 7 GIVE LIVE AND BUILD WEALTH

 

[C.Ann]

I purchased the "Total Money Makeover" for several families and it saved them from financial ruin..

If you're serious about becoming debt free, I think his books are great for people who are just so overwhelmed they don't even know where to start..

 

[wgqual]

Yes and it was the best money i could have spent. But look around im sure you can find it used or some place like Half price books.

 

[DISdreamin']

Just got it from the library the other day and have read it already. It was a cool read, very motivational if you need a kick in the pants along with a success story or 27 thrown in to show you that it CAN be done!

Anyways, I would buy this book if I could get it for $10, but I don't think I'd pay $30+ for it. For that much, I'd wait. You can find lots of info by just going to llnoe.com and signing up to read the baby steps threads on there. Lots of info, and lots of great stories.

Good luck!

 

[MissMet]

I have the workbook & the hard cover & am glad I have both. To me it's worth the $34. I bought both and now am about to start the Financial Peace University through my church for another $100 which is a deal, because if I went through him it's $129.99.

If you're interested in the university you can go on his website & see locations you can take it at for $100. A lot of churches do it as well as other venues. You don't have to be a member of the church or anything, it's just churches seem to already have the perfect setup to host it & he has great deals for churches to host it.

 

[gilby]

I just bought the book. You can figure out your budget on paper or use his forms. Save yourself a few dollars.
Good luck it was the best ten dollars I spent.

 

[Shmily1]

On the last sale, I bought the book, the deluxe envelope system, and the CD with the software for $10 each. I'm reading the book now but will be starting on the steps soon.

 

[C.Ann]

You could also try Amazon.com

I have purchased used books there for a very low price and they have always been in excellent condition..

 

[momtosam]

I would definitely buy the book, but not for $34. I just checked Barnes and Noble online and they have it for $16. I own the book and have reread it many times. It also has great worksheets in the back. I'm not familiar with the workbook, but I don't think that would be a neccessity.

 

[sylvenmaid]

I would buy the book first. It is a great book and worth it but not for $34! I wouldn't pay more than $10 and I got my copy for $6 used off ebay. It looks brand new. I don't think the workbook would be necessary. I do my budget in a notebook each month. I do the envelope system (well most of our bills are drafted) and just used regular ones marked with utilities, grocery, spending, etc.