Sharon Ramsey

I read this as a companion to Ramsey's Financial Peace University. It basically reinforces the concepts he teaches in the course, but you can get a lot out of just reading the book.

Ramsey himself says that he gives advise that your grandmother would give (he just keeps his teeth in), and the advise is really a lot of common sense. To get you money under control you have to stop buying things you can't afford. Pay off your debts and don't borrow any more money; save up for what you want. Have show more an emergency fund so that you don't need credit when you get into a crunch (and you will).

Ramsey's story is interesting in that he was very successful--a millionaire--doing things the way that everyone does: leveraging borrowed money and focusing on building cash flow rather than assets. He went broke. As he was rebuilding his finances, he talked with people who were really rich. He says if you want to succeed, you find successful people and do what they do. And those discussions formed the foundation of the advise he gives.

There is a spiritual aspect to money, and Ramsey covers that as well, quoting liberally from Proverbs and the New Testament. He doesn't really proselytize much, but he does emphasize the wisdom found in the Bible.

I got lot out of this book. Not only does he give good basic advice, but it is written in a straightforward style that makes complex concepts understandable, and there are lots of worksheets to help you get started. Applying his concepts, I have been able to get things under control--just in time for the economic downturn. If more people followed this advice, we would be in a lot less trouble now.

I'd recommend Financial Peace Revisited for anyone who wants a simple, effective plan to get their finances under control.

Related website: http://wwww.daveramsey.com/

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Dave Ramsey has been on TV and also markets his "Financial Peace University" through churches, primarily of the evangelical type. His advice is stringent and not very sophisticated but not what I would call bad advice. A lot of people would be a lot happier if they had taken it.

Some of it was a repeat from his Total Money Makeover. But there was some great information about special age groups (and giving advice) that was new. And it seemed much less like a personal advertisement than TMM.

First financial book I've ever read and I still go back to it. Dave has a great plan for getting out of debt and building wealth that is low-risk and works. If you've ever heard his radio show, you probably know his story of losing everything and going bankrupt in his 20's. He wants to help others avoid his fate and show them that even if they are deeply in debt, there is a way out. This guy has helped so many people get a handle on their finances and become smart spenders/investors. If you show more are having problems with debt, this is the book to go to!!! show less