Publisher's Synopsis
This summary is a separate companion to The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness by Dave Ramsey. Have you ever bought a book with the intention of making positive changes in your life, and then a month later nothing has changed? A month after you've finished reading the book, life gets busy, and you forget many of the important ideas you've just read. Use this summary to quickly review the most important ideas from the book and get back on track to achieving the positive life-changing results you bought the book to obtain. Millions of people worldwide use book summaries to quickly re-learn important concepts from the books they've read.
This is a simple and straightforward plan to trim your expenses, eliminate your debt, and take back control of your personal finances. There are no get-rich-quick schemes or fads. Just good solid real-world advice that actually works. Once you no longer have debt holding you back, you can invest the money that used to go to repaying debt. Sooner than you think, through the power of compound interest, you will be able to live off of your investment income and be truly financially secure.
Summary Table of Contents:
Despite Being Comfortable, Financial Insecurity Is Closer Than You Think
Debt Has Become Way Too Common and is Irresponsibly Accepted As Normal
Despite Being Incredibly Common, Incurring Debt Is Not Sound Financial Management
Creating a Sound Financial Plan Is a Step-By-Step Process
Step One: Create an Emergency Fund
Step Two: Pay off Your Debts
Step three: Increase the Size of Your Emergency Fund
Save a Down Payment for a Home Only after Step Three
Step Four: Invest 15% of Your Income for Retirement
Step Five: Save for College
Step Six: Become Completely Debt-Free by Paying off Your Mortgage
Step Seven: Build Wealth
The Definition of Financial Security
Have Fun with Your Money
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Please note: This is a separate companion summary of the most important ideas from the book - not the original full-length book.
