Although Dave Ramsey is becoming more widely known around the nation, I can still mention his name here in Chicago and get a "Who's that?" response. I first found out about Dave while living in Kentucky through a co-worker. This discovery turned my life around.
Two years ago, my husband and I were a little over $36,000 in debt including credit cards, cars, and student loans. Today, we are completely debt-free, saving an emergency fund like Ramsey strongly advocates in the book, and we will be able to purchase a home on a 15-year fixed rate mortgage (also something he advocates in the book).
The philosophy is incredibly simple, and a few other reviewers have already listed his "baby steps," so I won't rehash that again. "Baby steps" actually came from the Bill Murray flick "What About Bob?", in case you're wondering. Not only are the steps easy to follow, but you'll want to channel Homer Simpson and have a "Doh!" moment when you read it. On his widely syndicated talk radio show, Ramsey uses the opening line, "Teaching you the same advice your grandmother would, only we keep our teeth in." That line is in deference to the fact that he realizes he is teaching people common sense money management.
If you're in love with your FICO score or looking for a financial expert to help you improve your credit, Ramsey's book is the wrong one for you. Be forewarned that he cares NOTHING about a credit score. The only debt that he "allows" you to keep is a mortgage, and he's not crazy about that. If you're looking for a way to get out of debt, stay out of debt, and learn to make the most of your hard-earned wages (possibly become a millionaire in the process), then you need to read this book. It may change your life; it changed mine.