How to Have More Than Enough by David Ramsey – A Book Review

How to Have More Than Enough by David Ramsey – A Book Review

Dave Ramsey is a financial guru, and my favorite book is his “How to Have More than Enough: A Step-by-Step Guide to Creating Abundance”.

More than a budgeting book and how to cut costs guide (and this book does include both), it outlines his “baby steps”.

Step 1: set up an emergency fund for true emergencies. And he explains what real emergencies are (medical, car repairs, etc).

Step 2: debt snowball, and ways to find money for it.

Step 3: 3-6 months of emergency savings. This is what you live off of if you lose a job, get downgraded at work, etc.

The next savings for retirement, house, college, are all prioritized.

I enjoy this book because it talks about not just how to plan your finances, like paying off debt comes before retirement savings, and you say no to kids college before you have credit card bills, but do save for college before you pay off the house early. He already details how to get back on track if an emergency comes up, and more debt consequence – like a surprise surgery and you’ve used up the emergency fund AND savings.

The changes he details to get the mindset in order – how to not just tighten the belt but be able to live and already thrive living on less than you make, are meaningful here. It’s not just clenching teeth for a few months or a year to pay off those debts. It’s changes in lifestyle, too, so you never get into debt (except a house mortgage) again. And then it’s how to live and prosper later, when you can provide the toys (when you can save up and pay cash for them) later.

Live like no one else so that later you can live like no one else. And you’re allowed to say “No” to the kids demands for toys, to all the “please give me another loan” and “but I really need you to do this” while you get your own life in order.

How to Have More Than Enough is a financial planning book that almost anybody could relate to and apply for a more pleasant financial well being.

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