I finished my second “Friends of the Library Project” book June 28.
It would be easy to say a lot has changed in the world since 2003, and even more since 1997, when Dave Ramsey first published his book about personal finance.
But the principles of money management outlined here are timeless, which is one key to Ramsey’s ongoing success. Financial stability doesn’t require the intelligence of a rocket scientist; it takes the determination of an astronaut.
As Ramsey notes, the bulk of Americans have little or no savings and a lot of debt. After making a case for why debt is bad, Ramsey outlines the steps that worked for him and many of those he has counseled. Again, they’re not hard to understand, they’re hard to put into practice. From learning to say no to yourself to giving to worthy causes, Ramsey is swimming upstream in modern America, but if more of us would swim with him, we’d be better off.
I’ve read other books on this topic, including Smart Women Finish Rich and The Soul of Money. But Dave Ramsey is so famous I wanted to see why. I think it’s his practical approach, his “been there myself” believability, and his stories. This updated version of the book includes notes from his wife, which round out his view. While this book is good, I’d recommend investigating some of his more recent work . . . unless, like me, you find a great deal at the library book sale!
I found his website to have a lot of interesting free tools and information — including book recommendations on leadership. Yes, there’s plenty on offer for purchase, but there’s still plenty to get you started without paying a dime. I started doing a budget using the EveryDollar tool, but doing a budget right before bedtime = not smart. It’s still not finished.
I did locate some savings bonds that had matured and got those cashed in to start our emergency fund, which is Baby Step #1.
Are you a Dave Ramsey fan? Have you implemented any of his ideas successfully? Please share in the comments. (I would offer this book, but I plan to give it to someone I hope will read it!)