can someone give me a summary of the TOTAL MONEY MAKEOVER

TIA

Re: can someone give me a summary of the TOTAL MONEY MAKEOVER

I don't know anything about it - but maybe you can find some info on the related topics at the bottom of the page

Re: can someone give me a summary of the TOTAL MONEY MAKEOVER

it is a personal finance book about how to paydown debt.

He tells you to first get an emergency fund of $1,000 started.

once you have that, you pay down your bills. List your debts from highest to lowest and pay off the lowest first (ignoring the interest rate).

Beth & Libby read it more than I did so they can fill in the rest I only read it once

Re: can someone give me a summary of the TOTAL MONEY MAKEOVER

LINK TO BABY STEPS

that's a link to his website... and a list of the baby steps.

if you need more info, please ask

i recommend you BUY the book, because you will go back to it again and again.

i'll be re-reading this weekend

Re: can someone give me a summary of the TOTAL MONEY MAKEOVER

I don't know too much about it either but I know he uses a debt snowball plan to pay down debt. The theory being you total all the money available to pay off debt, make minimum payments to all but one - the rest of the available cash goes to (in Ramseys case) the bill with the lowest balance. when that gets paid off, that money would go to the next bill on your list. I found it costs less to pay in descending interest rate order but there's the psychological benefit of paying off a bill.

You can google debt snowball and you'll find a bunch of worksheets that will help you figure out which bills to pay in what order.

He also does a lot with budgeting. There's a total money makeover website that may help you too.

Re: can someone give me a summary of the TOTAL MONEY MAKEOVER

thank you for asking this! I was wondering the same thing.