Financial Peace Revisited by Dave Ramsey
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Book Reviews of Financial Peace Revisited
Book Review: Worth Every Penny Because It Teaches Deep Financial Wisdom
Summary: 5 Stars
There's a lot of talk these days about how much our government's spending is out of control. But something you don't hear as much about that is just as important, if not more so, is how out of control the spending of individuals and families is. Just as there's a lot of talk about financial responsibility, there are a lot of books out there on family finances. "Financial Peace Revisited" is one of the best ones out there.
Dave Ramsey has become famous, has his own syndicated radio program, and has sold thousands of books for three reasons. First, he has a lot of practical, biblical wisdom to offer on family finances. He also writes with great clarity and force. Finally, Dave has a great sense of humor: he manages to bring in anecdotes and humorous perspectives without these getting in the way of his fundamental and valuable message.
If you're someone who has been struggling with debt, especially if you're a Christian, then this is one book you should buy and consume! It's worth every penny. But it's no good just reading the book: you have to put it into effect. Going into debt doesn't just create family stress and arguments, and it doesn't just make life more difficult: in most cases in the U.S., it's actually a sinful behavior. Reading "Financial Peace Revisited" is therefore more than just your ordinary self-help book: it's a book that will help thousands, if not millions, to work on a very real serious spiritual problem in their life: greed, and wanting more than one can responsibly afford.
This book is so useful as well because Dave takes the time to break things down into manageable "baby steps" that most of us can follow, with a little encouragement and a lot of dedication and determination. Dave also understands the psychology of spending and saving money, both for individuals and for couples, and offers great insights into why we do what we do with our money and how we can do it better.
Even better than the book is Dave Ramsey's course, "Financial Peace University," because you get to hear and see Dave in videos, which allows his incredibly engaging and comical personality to come out. Also, by going with a group of people, it's more likely that you will actually make the changes in your life that are long overdue.
Here's an outline of the topics that Dave covers in "Financial Peace Revisited," to convince you even more that this is a book well worth having.
Chapter 1 - The Beginning
Chapter 2 - Enough of Anything is Too Much
Chapter 3 - The Basics (A Foundation)
Chapter 4 - Understand the Spiritual Aspects of Money
Chapter 5 - Let the Buyer Beware
Chapter 6 - Career Choice
Chapter 7 - Lifestyles of the Rich
Chapter 8 - Dumping Debt
Chapter 9 - Cucumbers, Collectors, and Credit Reports (Warning: Dave doesn't like credit cards or credit card companies!)
Chapter 10 - Pile Up Plunder
Chapter 11 - "KISS" Your Money (rules for investing)
Chapter 12 - Of Mice and Mutual Funds
Chapter 13 - Buy Only Big, Big Bargains
Chapter 14 - Single as a One-Dollar Bill
Chapter 15 - Tying the Knot in Your Money: Marriage
Chapter 16 - Crumb Snatchers and Money (Money and Children)
Chapter 17 - Family, Friends, and Money
Chapter 18 - Carefully Consider Counsel
Chapter 19 - Why Written? (Why you must have a written plan)
Chapter 20 - Do It Daily
Chapter 21 - Baby Steps
Chapter 22 - The End . . . or Just the Beginning?
Book Review: A Critique of Financial Peace Revisited
Summary: 5 Stars
In Financial Peace Revisited, Dave Ramsey's principles show you how to get out of debt and accumulate wealth. Using spiritual guidance, he teaches easy-to-follow rules to help you pay off debts. He recommends ways to change your spending habits, ways to be a bargain shopper, and ways to save your money. After learning these principles, you can apply them to your life to help you get in control of your life.Ramsey begins by telling his personal story of bankruptcy. After explaining to the audience that this could happen to anyone, he gives the steps, chapter by chapter, that you need to improve your way of life without having to hit the bank. One of his main points focuses on getting rid of bad debts. He says that one should put all debts in order from smallest to largest. After doing that, you should focus on paying off the smallest one. Once that one is paid off, you should continue to the next smallest one. Eventually, all your bad debts have been eliminated. Ramsey recommends that you never use credit. He says that you should only buy something when you have the money for it.
Ramsey has a good sense of what needs to be done to get a person out of debt. He is able to tell of his own personal stories to let a person know that it is possible to get out of debt, no matter how far in the hole you may be. His personal experience tells a person that these principles really do work. He makes valid arguments in saying that you should never buy on credit. If you only pay cash, you do not have to worry about getting into debt to begin with.
I personally agree with the principles that Ramsey is trying to teach us as readers. He is very helpful in teaching simple, easy-to-follow rules that anyone can live by. I think it is important for a person to realize that it is possible to stay out of debt. It is possible and easy to do.
Financial Peace Revisited has shown me ways to keep myself out of debt and how to accumulate wealth. I personally know plenty of people that live by Dave Ramsey's principles. Everyone has said how much his principles have helped and how happy they are to be out of debt. There is nothing more satisfying than knowing that you do not owe anyone money. By using Dave Ramsey's advice, you too can be debt free and on your way to a better life.
Book Review: Gain Control of Your Financial Future
Summary: 5 Stars
"Since money problems and fights are statistically the biggest problem in marriage, any one of us who is wise will be on guard against these problems and looking for ways to win." ~ pg. 207
After reading Dave Ramsey's "Total Money Makeover," I was interested in seeing what he had to say in "Financial Peace Revisited." My husband and I are reading all his books and so far we have set up a realistic budget and have almost paid off all our credit card debt. It was amazing how fast we got with the program and how quickly it works. My only advice is to give yourself time to adjust to the changes. It took me a few weeks to sit down and type out a budget (my husband initially used the worksheets in the back of the book) but I eventually did and it felt good to be in more control of our finances.
How do you control buying fever?
Can someone really become a millionaire by saving $65 a month?
Could this book really save your marriage?
How can you save money when you have credit card debt?
Are you tired of being a servant to financial institutions?
Where should I invest my money for retirement?
These are the types of questions Dave Ramsey answers...and more. I never thought books on finance could be so fun to read. In this book he also makes investing easy to understand. He gets very excited when talking about mutual funds. Some of the main ideas in this book include plans to deal with unexpected expenses (money in savings and emergency funds) and how to pay off debt quickly.
"On average, cardholders carry a $8,367 balance on their cards from month to month (160 percent increase since the past decade), paying an average 18.3 percent in interest." ~ pg. 73
I've listened to Dave Ramsey's radio show and have always found his advice helpful. I can also highly recommend his books. I also think you would love: The Total Money Makeover: A Proven Plan for Financial Fitness.
~The Rebecca Review
Book Review: Personal Finances 101
Summary: 5 Stars
I have read many personal finance books over the years - mostly because my brother is a CPA and I was perpetually broke (oh, the irony). This book came recommended by a good friend.
It is a quick read and written in basic, understandable terminology without being condescending. The principles taught in each chapter of the book are stated clearly with many examples. Quite frankly, this is the first book where I *really* understood the principle of compound interest and why I wanted to be earning 18% on my money and paying 6% on my loans rather than earning 6% on my savings and paying 18% to creditors! (I know, this sounds rather naive that it took me 30+ years to figure this out, but given the average debt load of Americans today, I cannot believe I am the only one). Also explained in this book is how a business makes money on the "no money down, no payments for 1 year" plans.
Two years ago, my husband and I established a family budget and switched to the "pay cash" method encouraged by Mr. Ramsey. Since that time we have been able to live in the metro-DC area (with four children) on one income! We now have more money than we did when we had two incomes and no kids! We have paid off a significant portion of our debts. We have established "rainy day" funds for rare, but anticipated expenses (e.g., major car/home repairs). I could go on and on, but I will sum up by saying that we have followed the principles taught in _Financial_Peace_Revisited_ and have prospered financially.
Please note that there is a Christian/religious angle to the book, but this in no way detracts from the advice offered. It can, however, be off-putting to those who do not share the same religious beliefs.
I highly recommend this book to many of my friends, associates and acquaintances. It is my personal belief that this book (or one similar) should be required reading for all High School students!
Enjoy reading Mr. Ramsey's book and getting yourself a bit of "Financial Peace."
Book Review: One of THE most important financial books you can read!
Summary: 5 Stars
When I grew up, we didn't really talk about money. I didn't learn to balance a checkbook and basically didn't take responsibility for my money as I went to college and into my 20s. Sadly, despite my accounting degree, I never thought I'd be able to own a home and basically, I was a statistic with no hope.
At my parents urging, I accompanied my sister to FPU for her money issues. As part of my FPU kit, I got a copy of this book. FPU & Financial Peace Revisited have been life changing for me. I took personal responsibility for my finances, introduced my now husband to Dave Ramsey, and we are well on our way to financial peace! Although we've had to press pause on our total money makeover for one of those inevitable negative life events, we are able to "tread water" comfortably until we get past the event. I now have hope, empowerment, and confidence in an area of my life where I previously didn't.
Anyway, FP Revisited explains on a basic level what you need to do to get your finances in order. It explains a lot of what you would learn in FPU in basic English so anyone can grasp it. Dave Ramsey's wife also comments at the end of each chapter and gives great anecdotes. I promise this isn't a snoozer financial book for accounting nerds! And although some of Ramsey's ideas may seem radical, even if you use half of the ideas, you will be much more confident over an area of your life that a lot of us struggle with. Even though I have an accounting degree, I had a lot of "duh" moments reading it. It also helped put my husband & I on the same page financially, which I'm sure has saved us a lot of fights. I loved it so much that I gave my copy to one of my friends that has been struggling financially, hoping it will help her family overcome their financial obstacles. I also gave a copy of FP Revisited with The Total Money Makeover to my cousin when she got married this spring, hoping it will help put her & her husband on the same financial page.