Does anyone following the Dave Ramsey, Total Money Makeover?

**rebecca** · 11-20-2004, 06:27 AM

I have been following the Dave Ramsey's Total Money Makeover since Feb. 2004. I have read many financial books and budget books and I find his one of the best. After I pay off my car the only debt I have is my car. YEA

The next step is to have 6-9 months of emergency fund, but I will be building both my emergency fund and paying on my house payment. Just curious if anyone else follows his program? Renee

**PrairieRose** · 11-20-2004, 12:33 PM

Renee, we didn't follow it but have read the books and agree wholeheartedly with most of what Dave says. I like his advice about getting out of debt (which we were doing before we found him) and about doing without, living below your means, etc... . He offers great advice and from someone who's been there, makes it believable and doable. We have paid off (now I need to find my papers and get the exact numbers but I'll give you a guestimate) about $140k in debt in the past 3 years. We have about 5 months living expenses in savings and much of it is due to the techniques that Dave touts (although he didn't think them up himself.....they were already in print when he wrote his books

). Great going on paying down your debt, hang in there. There's nothing quite like living in a debt free home and driving a paid for car

**Sara Noel** · 11-20-2004, 12:49 PM

I like Dave Ramsey's concept..although it's not his own. He markets practical money sense.

Step one is starting a small emergency fund.
Step two is pay off all debts except the mortgage. Smallest to largest bills depending.
Step three is a larger emergency fund of three to six months of expenses.
Step 4 15 percent of income into retirement and then do the kids college.
Step 5 paying off the house.
Step 6 Investing

It's not rocket science. He just puts it in a neat little bundle and of course the succes stories make it even better.
Anyway, I tend to admire him because he is more a finance guy than a "frugal" guy. He talks and people listen and it's all good since what he's sharing works when it's applied.

Yep, I like him. lol (hence my signature quote)

**rebecca** · 11-20-2004, 01:36 PM

PrarieRose, Congratulations on all the debt you paid. That was a pretty fast snowball affect!! Great Job

Renee

**nodmicks** · 11-20-2004, 10:33 PM

We follow about 80% of it. I absolutely love listening to him! He is so no nonsense and common sense!
We paid off 5K of our cc debt, 2000 in med bills(see signature they are almost gone!) along with regular mortgage and car payment.

**rebecca** · 11-21-2004, 04:23 AM

Congratulations on getting your debt out of your life. I also love listening to Dave Ramsey. I think he is great! Renee

**nodmicks** · 11-21-2004, 08:27 AM

Lol, I'm actually going back and forth on screens to the TMMO and the Village.

**sunshine** · 11-21-2004, 09:07 AM

We started with his "Financial Peace" book--- he just makes it all so simple by breaking it down into steps, and having you focus on only ONE step at a time.

We've paid off nearly $150,000 in debt over the last 6 years (still have a ways to go as most of it was medical debt)

I also moderate his online yahoo group.