{"id":17322,"date":"2020-11-06T10:52:58","date_gmt":"2020-11-06T14:52:58","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=17322"},"modified":"2020-11-11T12:21:51","modified_gmt":"2020-11-11T16:21:51","slug":"the-total-money-makeover","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/the-total-money-makeover\/","title":{"rendered":"The Total Money Makeover: All You Need to Know"},"content":{"rendered":"\n

What is the Total Money Makeover <\/em>by Dave Ramsey? How can the Total Money Makeover <\/em>revolutionize your life?<\/p>\n\n\n\n

The Total Money Makeover <\/em>is a program and a book by Dave Ramsey. You can set yourself up for financial peace of mind.<\/p>\n\n\n\n

Read more about the Total Money Makeover <\/em>by Dave Ramsey.<\/p>\n\n\n\n\n\n\n\n

Total Money Makeover<\/em> by Dave Ramsey<\/h2>\n\n\n\n

How you handle your finances determines whether you succeed in life. In the Total Money Makeover<\/em> book, radio talk show host and author Dave Ramsey lays out simple steps for freeing yourself from debt and setting yourself up for success<\/a>: following a monthly budget, buying only what you can afford, eliminating consumer debt, saving for emergencies<\/a>, investing for retirement<\/a> and your kids\u2019 college education, and paying off your mortgage<\/a>. Intended for everyone\u2014from high earners to people thousands of dollars in debt\u2014Ramsey\u2019s common-sense principles put you in control of your money and your life.<\/p>\n\n\n\n

Summary<\/strong> of the Total Money Makeover<\/em> Book<\/h2>\n\n\n\n

To understand why you have money problems\u2014why you\u2019re heavily in debt and can never seem to make ends meet or handle emergencies\u2014look in the mirror. Your financial situation is the result of your behavior<\/strong>, according to radio talk show host and author Dave Ramsey.<\/p>\n\n\n\n

In the Total Money Makeover<\/em> book, Ramsey lays out a program for freeing yourself from debt and money worries<\/a> by changing your behavior<\/a>: following a monthly budget, buying only what you can afford, eliminating debt, saving for emergencies, and investing. The program is intended for everyone\u2014from high earners to people thousands of dollars in debt.<\/p>\n\n\n\n

The Total Money Makeover motto<\/a> is: live differently from everyone else in the present so you can live differently from everyone else in the future<\/strong>. This means that to live a better life than most people, you need to do what most people won\u2019t do\u2014make sacrifices now in return for the payoff of financial security later.<\/p>\n\n\n\n

The fix for your financial situation isn\u2019t a bigger salary, a windfall, or a better job, but acknowledging that your poor financial decisions are your fault and changing your behavior. This book lays out what you need to do, but only you can do it.<\/p>\n\n\n\n

Myths About Debt and Money<\/strong><\/h3>\n\n\n\n

People who get into financial trouble do so in part because they believe a host of societal myths about debt<\/a> and money that encourage taking on debt and spending foolishly in order to buy things they can\u2019t afford.<\/p>\n\n\n\n

One of the biggest myths is that debt is normal. Debt has become so ingrained in our culture that most people can\u2019t imagine living without it.<\/strong> We don\u2019t know how to get a car, buy a home, or go to college without debt, and most people can\u2019t imagine living without a credit card. Further, financial institutions, stores, and other lenders aggressively push you to borrow because they benefit when you owe them money. <\/p>\n\n\n\n

You must reject the view that debt is normal before you can get control of your finances. The central tenet of the Total Money Makeover program is living debt-free and buying only what you can afford (what you can pay for immediately).<\/p>\n\n\n\n

The belief that debt is normal and a way to improve your life promotes these myths:<\/p>\n\n\n\n