My wife and I are reading The Total Money Makeover: A Proven Plan for Financial Fitness
by Dave Ramsey. I’ll write more about it when I have some time but I love this book. It is a breath of fresh air. He challenges “conventional” wisdom about finances and lays out a very clear step by step plan to getting out of debt and becoming financially free. Though the wisdom is uncoventional, it is pure common sense!
I’m sure the credit card companies hate Dave Ramsey. He advocates paying off all credit cards and closing all credit card accounts. He advocates a 100% cash existance (or debit card). You should not have a credit card for emergencies or “just in case”. He lays out a plan for having a $1,000 emergency fund for those emergencies and saving 3-6 months of expenses for a “rainy day”.
If you are in debt up to your eyeballs or even if you have no debt, Dave Ramsey’s book can help you on the path to financial freedom!
Again, I’ll write more about his book when I have some time but my wife and I are beginning the process. What fun knowing we are on the path to financial freedom!