The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness Hardcover – September 17, 2013

I have read dozens of finance books and this is one of the best. I would put it up there with Automatic Millionaire, Rich Dad Poor Dad, and Pirates of Financial Freedom. It isn't perfect though which I will talk about later.

Who is this book for? Everyone can benefit from it, but it is great for married couples and those in their late 20s, 30s, and early 40s. Young adults could benefit tremendously from it, but I'm worried it might not be exciting or fun enough to hold their attention. It's not really meant for retirees.

--- The Good ---

* He says financial freedom is 80% behavior and 20% knowledge which is so important, and he emphasizes this by pointing out there are a lot of broke finance professors.

* There are many real-life success stories of real people which shows his method works, and they also provide inspiration.

* He lays out his seven Baby Steps and makes them simple to understand. He points out that living right financially is not complicated. It may be difficult, but it's not complicated.

* I really liked the quote, "If you worked for a company called YOU Inc. and you managed money at YOU Inc. the way you manage your own money now, would you fire you?"

* The book includes helpful budget forms and worksheet in the back of the book.

* He isn't all gloom and doom. He wants you to have fun and even approves of buying a $30,000 watch, but only after you reach step seven and can afford it.

--- The Not-So-Good ---

* He doesn't go into a lot of detail on how to increase your income. Dave Ramsey is rich because he is a business owner who can make money from his radio show, books, seminars, programs, etc. It would have been great to get his advice on that, but he probably didn't want to overwhelm the reader with too many topics.

* I feel his previous bad experience with debt (he was over-leveraged with his real estate investments) has made him overly zealous on not having any debt. College loans can be very appropriate for some people, business loans can be great in the right situation, and his statement that you should put money toward paying down debt rather than getting the company 401(k) match seemed too extreme to me.

* The book wasn't super entertaining. I found a few parts to be a little dry and repetitive. While it certainly wasn't boring, I wish more money management books would be like the new personal finance adventure novel, but I guess that isn't this book's purpose. Still, there were a couple parts that made me chuckle and he did have some interesting stories.

* He stressed putting 100% of your investments in stock-related mutual funds. First, I feel ETFs are probably better than mutual funds because they are cheaper and won't underperform the market. Second, recommending a 100% stock portfolio to everyone regardless of age, financial goals, or risk tolerance seems risky to me. Plus you wouldn't experience the diversification benefit of owning non-correlated asset classes.

* He doesn't talk about the benefits of setting S.M.A.R.T. goals or having an accountability partner, which have been shown to greatly help people achieve all kinds of dreams.

--- Conclusion ---

Overall it is a very good book with a lot of good advice and inspirational case studies. You certainly won't regret reading it.

We are in the process of doing his advice. It's sound advice and I do think it's possible to do as David states, but you have to be strict for yourself and fully committed to do every step. I'll update further with our progress.

I'm pretty much obsessed with making the Dave plan work for us. This book makes so much sense and it has now moved us in the right direction. His baby steps, clean up debt, build up savings, save for retirement, pay off house, etc have been simplified so that no matter your income, education, stage of life his plan is easy to follow. I even found his podcast and started listening to it while running.

Good book. Life changing! In 4 months, I paid off my car loan, all credit cards and doctor bills!!! About $6,000 total. I increased my credit score to a 747. Started at a 660.

This is a great product for anyone who wants to understand the importance of money. I grew up in a background where my family struggled financially for a long time. This is a great educational tool for those want to start learning and better their lives now.

You will not get a better introduction to how you need to start valuing money. The only comment i would make is regards to credit which in many ways an important value to build good credit. I understand that the author wanted to avoid people to have a tendency to use their credit to pay for another job but many of us don't have the initial funds to get started.

Again keep your budget straight! Start looking at your expenses holistically and think about what you want and protect yourself today!

The book had great advice regarding how to make your money work for you instead of letting it control you. Dave dispelled a number of financial myths I had believed over the years. My biggest regret is that I did not read this book and follow its advice years ago. Unfortunately, at this stage of my life, along with some unusual circumstances, this book no longer applies to my situation. However, I would make this book required reading for any person between the ages of 16 and 50.

This book is motivating. However, it was quite annoying to read many pages of how amazing the book is without actually getting into the detail of how to give myself a total money makeover. Basically, just too much fluff for my liking. He makes many great points but they were overshadowed with all the testimonials. I liked the myths part but wish there were easier step-by-step to follow something a little more visual perhaps.

A friend told me about this book. She was $46K in debt. 3 years later she is debt free and now has money in savings, a great start on a 401K plan and a little spending money. I bought the book despite my misgivings. After a few false start, I'm following the program. It is practical solutions to an age old problem, to many wants and not enough means. It really get down to an individual's disciple. All the help in the world is worthless if you won't follow directions. After a year, I am almost debt free. Good luck.