In order to help people achieve a total money makeover, Dave Ramsey "busts" myths and introduces a seven step program to insure one 's success . He provides extremely accurate reasons and fact to why debt and money myths can 't be trusted and reveals truths . Also adding on an easy to understand and follow program, to ensure financial finesses . Before all this Dave instructs that one should be able to accept the reality if they are financial unhealthy and be willing to change even if its painful . The first "truth" that Dave revels about debt is that it is not a tool and doesn 't in anyway "bring any prosperity ." The second is that loaning any money to friends or families puts tension on ones relationships with them . The third is that
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The third is that the lottery is a " rip-off instituted by our government . He states that this is a mathematical fact . Next is that mobile homes are a bad way to build wealth because they lose value rapidly . Fifth is that " plans for prepaid funerals and colleges give low rates of return and put money is the other guy 's pockets ." Next is that debt management companies may get one out of debt but they will destroy one 's credit score . Sixth is that bankruptcy is a dreadful life-changing event that has drastic long-term effects . Seventh is that using cash causes you spend less . Next is that writing a will is better than not writing one …show more content…
I would definitely follow his plan for the following reasons . Saving a $1000 for emergencies is a great way to start a financial plan because in case of actual emergencies you have quick to access money . Next, reducing all of one 's debt is a great way to eventually save money . Paying of one debt by one in larger chunks of money allows one to handle things easier than putting money into all debts owned in small amounts . Next saving money toward retirement is a great idea because it insures that you have a stable life during your golden years . Saving money for your children 's college is also great because the earlier you start the better education you child is capable of having . While saving money for college, it would also be best to put money toward the house mortgage . Paying off this burden ensure that you are debt-free . Finally after completing the other steps, investing and making profits really insure that you build wealth and become financially fit
The third is that the lottery is a " rip-off instituted by our government . He states that this is a mathematical fact . Next is that mobile homes are a bad way to build wealth because they lose value rapidly . Fifth is that " plans for prepaid funerals and colleges give low rates of return and put money is the other guy 's pockets ." Next is that debt management companies may get one out of debt but they will destroy one 's credit score . Sixth is that bankruptcy is a dreadful life-changing event that has drastic long-term effects . Seventh is that using cash causes you spend less . Next is that writing a will is better than not writing one …show more content…
I would definitely follow his plan for the following reasons . Saving a $1000 for emergencies is a great way to start a financial plan because in case of actual emergencies you have quick to access money . Next, reducing all of one 's debt is a great way to eventually save money . Paying of one debt by one in larger chunks of money allows one to handle things easier than putting money into all debts owned in small amounts . Next saving money toward retirement is a great idea because it insures that you have a stable life during your golden years . Saving money for your children 's college is also great because the earlier you start the better education you child is capable of having . While saving money for college, it would also be best to put money toward the house mortgage . Paying off this burden ensure that you are debt-free . Finally after completing the other steps, investing and making profits really insure that you build wealth and become financially fit