Introduction to money makeover review

The Total Money Makeover by Dave Ramsey describes the steps to be followed to gain financial stability. He had given practical Bookkeeping by providing formats for practical purposes which is easy for all from simple to the man at the top.

Strengths of the Book

He had also elaborated different steps and divided them into Myths and Truths so our earlier thinking has been transformed and if one really follows the rule,one should attain success. If one shall follow the guidelines regarding mortgage,investment,loan then one shall easily transform their lives.

What’s in the Book ?

In the beginning of the book the author says that the success is mainly through 80% behavior and 20% on actions. It means one has to be positive and change their attitude and behavior to change their lifestyles to live comfortably. He also pointed out one should have a certain knowledge who have attained education but many Who are wealthier and successful aren’t scholars in finance.

They just have farsights and foresights along with their courage to face the risk. Ine has to be optimistic about starting a new course,which shall bring in money and by using fetches more money.

In between,he also explains how to maintain one’s own finances and also investing for the education of the children.

He also pointed out that many of the Americans don’t make any Will. They don’t understand that by making a Will,he or she is making the life secure for their children and to avoid any confrontations.

He also pointed out the ill use of Credit Cards by the children who have not attained adulthood,thus making them irresponsible and leads them to make immature decisions in the future Which in turn harmful in their later life.

Another important thing the author focuses on is about Life insurance,Car Insurance and by simply calculation has shown the readers that they had to incur losses at last.

Regarding mortgage,securities,Car loan the author showed a very clear and realistic picture before the readers. The most important and strong portions were the formats placed on page 130 and after that from or little before Page 200 and later from Page 230 to Page 260.

He cautioned not to expect the book to do magic for all and all that shall the readers should do to change and transform their lives.

The author tells the readers to be optimistic,take a sharp outlook towards life,be optimistic. But simply the feeling doesn’t bring success overnight. One has to wait patiently but not get overwhelmed after getting success.

One should go on and on and build around him a shield of comfort and security. One should always remain calm,cool and composed while making a decision and facing obstacles and difficulties with the same optimism and courage.

He also suggested correctly to engage in creative work so that the brain shall remain active and engaged in hobbies, which is an added advantage if it brings fruitful results. Starting a new business and using money to make more money requires working out the brain. It helps to remain active even at the retirement age or a person arriving at his retirement age.

Weaknesses of the book

This is to note that this book centers and points towards the Americans. Though the people outside the USA namely the countries in South Asia namely,Bangladesh,Pakistan,India can’t make use of the areas covered for maintaining financial maintenance. The movement of the book’s content gets disturbed due to the addition of stories by people who achieved success. That doesn’t mean that each and everyone shall achieve success just by following them. Because their personality and decision making are not the same for everyone.

Everyone has different problems to deal with. These kinds of books are available in plenty in the markets which starts with the heading ‘ How To’ which if followed diligently shall be the wastage of time and no fruitful results.

As everyone knows that the result shall be obtained when basic concepts were made and still not guaranteed by reading such books.

Having a simplified outlook by the author,he missed out the systematic steps to take the challenges. The book is not a magic wand to wipe out difficulties and obstacles from one’s life.

He also briefly explained about tax and how to use tax by increasing wealth.

The author encouraged the adult ones to be self-independent and make one’s own money from their student life and thus making money of their own and not being independent of their parents.

By keeping a certain small percentage from the savings one can also become wealthy gradually. One can establish their own lives and live comfortably. One needs to have patience,industriousness and not be detached from the goal that has been taken.

Keywords

Critics opinions regarding the book,The rating of the book,Links regarding author and others

Critics opinions regarding the book by financial institutions

The Wealth Nation, a financial institution,after much study, made their opinions about the book Which had got 5-star reviews and has acclaimed the Writer as a financial coach. As to be noted,it is through 20 years of teaching and counselling regarding finance that helped to elaborate in detail.

Amazon

The simplified narrative by Amazon helps attract the readers to use their time productively by reading through the pages of the book for shaping their future.

My Personal Takeaway

As for getting motivation,educational guidance from the book.I prefer the different Account format Which shows a clear purpose. Whereas,It is like ‘How To’ books which gives nothing practical to understand.

FAQ

I) What is THE TOTAL MONEY MAKEOVER about ?

It is about a coaching by the celebrated writer to guide through financial independence and self-sufficient and different outlook and have a new approach to life.

ii) Who should read THE MONEY TAKEOVER ?

Those who would like to have a matured and realistic outlook towards life have to read, have patience and study over and over.

Iii) What is the summary of TOTAL MONEY MAKEOVER

The link of the summary by the current author is given here – https://docs.google.com/document/d/1Xz1X9wroHQhPtvatC4kTY-TOAtbg_tTfRzhZIG-kwcU/edit?tab=t.0

iv) Similar books like THE TOTAL MONEY MAKEOVER

Breaking Free From Broke – https://books.google.com.bd/books?id=yJTtEAAAQBAJ&newbks=0&printsec=frontcover&hl=en&source=newbks_fb&redir_esc=y#v=onepage&q&f=false

The external link to the writer Dave Ramsey –

1. https://x.com/daveramsey?lang=en
2. https://notcommon.com/dave-ramsey

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