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The Total Money Makeover: Book Review

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Introduction
“If you wish to get rich, save what you get. A fool can earn money; but it takes a wise man to save and dispose of it to his own advantage.” Brigham Young, JD 11:201
I believe Brigham Young is very correct here when he says it takes a wise man to use that money to his advantage. I believe many people in this world today do not know how to properly use and invest their money. Many people even know what to do they just don’t know where to start. After reading Dave Ramsey’s: The Total Money Makeover, I learned ways to save and invest money that I never knew before. In this book, I learned about Ramsey’s baby steps to a Total Money Makeover. I would like to share what I learned with you.
Review
Baby Step 1: Develop a budget
For many people just hearing about Dave Ramsey’s Total Money Makeover this is a scary step. Although on the contrary, it is actually pretty simple for a first-timer to complete this first part of …show more content…

The debt snowball that you created should now be directed towards more expensive items like a new car that could be paid completely in cash or a down payment on a house. Once a person has reached this level in the plan, you now have a firm foundation which you can build upon.
Baby Step 7: Build Wealth
Dave offers suggestions on how to build up your wealth by completing three small steps. These three steps are to start paying for your retirement, paying for kid’s college education, and lastly paying off your home mortgage. For the first step Dave says that you should save 15% of your income to put towards retirement using the basic formula of paying into your work retirement plan until you reach the matching amount. Then by maximizing a Roth IRA contribution you can put the rest of the money into a work retirement plan. This is a basic rule of every retirement plan because it has been proven to work.
Compatibility with the

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