Project Description

book cover total money makeoverSubtitle: A Proven Plan for Financial Fitness

By: Dave Ramsey


  • 15% of success is attributed to college and education.
    • 85% is attributed to attitude, hard work, and perseverance.
  • The enemy of the best is just fine.
  • Proverbs 22:7: The rich rules over the poor and the borrower is his servant.
    • The borrower is servant to his lender.
  • Never loan money to friends. Only give money or else it will ruin the relationship.
  • Average millionaire drives a two year old car with no payment.
  • Don’t need a credit card to build your credit.
  • His kids only get paid when they work chores.
    • The money goes into three buckets: work, save, give.
  • Always get written invoices from collectors before sending money.
    • They lie. It’s a scam.
  • He advised that we carry cash, because we end up spending less money versus credit.
  • Best place to buy disability insurance is through work!
    • 32 year old is 12 more likely to be disabled than to die.
  • Self employed should get an MSA health insurance plan to save on premiums and taxes.
  • If your spouse refuses to talk about financing, you may need counseling anyway.
    • You might have other marriage problems.
  • If you aim at nothing, you will hit it every time.
  • People who retire early die early.
  • Don’t pay off the house of save for kids education. Invest the money in our retirement instead.
  • Pay for college with an educational savings fund invested in mutual funds.
    • Don’t use pre-saving college funds.
    • It grows tax free!
    • One person wrote 1,000 scholarship applications during one summer and got 30 of them for 38k towards school.


  • Steps:
    1. Save $1000 cash for a rainy day fund.
      1. It’s a catch all in to avoid using a credit card.
      2. Should keep six months of living expenses.
    2. Must setup a written budget for the month.
      1. Never do anything that’s not on that page.
      2. If you need changes, you both must agree.
    3. List debts small payments to large.
      1. List minimum payments on all other debts.
    4. Start selling things
      1. Get radical!
    5. Invest at least 15% of income in retirement.
      1. After the match from work, invest in the ROTH IRA.
    6. Get rid of the home mortgage:
      1. Bc I know how to do this, I can pay off the mortgage slower and invest the rest in the market.
      2. But I have to adjust for risk of losing the house.
      3. 97% of people don’t pay extra on their mortgage.
    7. Build wealth!
      1. After you make the money, giving it away produces the greatest happiness.