Dave Ramsey's Total Money Makeover

[finley1991]

I'm thinking of looking into this program to help me get more on track with my finances. Can any of you who have used this program or are using it give me some insight? Thanks so much for sharing!

 

[katie0128]

YES, YES, YES, YES, YES!!!!! You will not be sorry if you do it! Are you looking into the class? It is SOOOOO worth it. In one of the videos Dave says that he doesn't provide refunds because, "The Plan will work [for you] if you work the Plan." DH and I did the classes about 3 years ago and were doing well for a while, but then got lazy and didn't follow through with the baby steps (you'll learn what those are very quickly) and found ourselves in $$ trouble again. I just found all my books and am thinking about doing a few refresher classes to get me on track again.
If you have any "personal" questions, I'll completely willing to answer. Just email me!

 

[finley1991]

I'm thinking of obviously reading the book and then doing the online program. I haven't heard of the class...

 

[katie0128]

Depending on your personality, you'll need to decide if you need "group support" as you get started. Personally, that is what I need. I need to know other people are having the same problems and listening to a variety of ways to address issues. Don't worry - you don't talk about specific dollar amounts in class... if fact, in our class, we didn't ever mention numbers - either debt, income, etc... just percentages and only if you wanted to share, but there was no pressure to do so.

Check out his website and locate a class near you. They are typically held at a church because Dave is a Christian and does present his methods from a Christian perspective. However, we had about 1/2 church people and 1/2 non-church people in our class (which was at a church). Regardless of whether you attend church or not, the classes are PHENOMENAL!!! Plus, once you purchase the kit for the class, you can attend any session again whenever you need a refresher for FREE!!!

 

[susan g]

The class is great (I've heard). A lot of churches offer it so that might be a good place to look for it. I know our church offers it at least once a year. I am reading the books now and our family is going to try out his plan. I am so excited because we have finally paid off my and DHs $100k(yes, that's one hundred thousand dollars) grad school loans!!!!!!! and now have an extra $500 a month. I wanted to have a good plan for saving or investing it before it just disappears every month. My favorite thing about the Dave Ramsey books is not that you read anything you've never heard but that he gives you the order in which to do it so that you actually have a game plan.

 

[finley1991]

Thanks Katie!

How did you find out about the class? I couldn't get info on them from the his website or I was looking in the wrong spot. I found out about the seminars but there are none near me.

 

[finley1991]

I think the reason why I am interested is not the debt but I need to ramp up my savings majorly and decided that if I treated my savings like debt, I could do it. (Hope that makes sense!) Although I do have a small amount of debt I'd like to be done with!

Also, the reviews I read said wonderful things and that DR's program was really the only one that works. Even over Suze Orman and David Bach's.

 

[sfdavis918]

I think DR's plan works so much better because it is so much more common sense and really easy to do.

We have been working his plan now for about a year. We only have one debt that we are working on, but have used the plan more for the budgeting side of things. We are slowly working the babysteps, and actually me starting PC was a way to boost our income without affecting our family life too much. We have been successful in keeping me working my two small businesses from home and staying home with our two little ones. Before DR I never ever would have thought that possible.

We have only read the TMMO. It's a great book, really explains everything really well and gives tons of inspiring testimonials. I highly reccommend it! Also check out his radio show. If you go to Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan. there is a link to find a station in your area. If there isn't one he also streams it on the website and also offers 1 hour of each show for free download.

Go for it girl, you won't regret it!!

 

[Kathytnt]

It is a very sensible program - I like that he even has a kids program. We are well into the program as far as savings. Too cool!

 

[finley1991]

Thanks so much for all of your input! I'm getting really excited!!!!!

 

[Stampaholic1961]

For those of you who have used his products which do you recommend? I went & looked at his website & there are too many choices!! Does his plan work for people who don't have a regular source of income? What I mean by that is that my hubby & I are self employed. We do PC, SU & he has a maintenance business. We never know from one day to the next how much money we have?
I also saw a program for kids. Is it for little kids? Mine are 14 & 16. TIA.

 

[baychef]

Dave Ramsey makes much more sense than Suzie O or David Bach. I suggest taking the class and purchasing the materials. It was the best investment I have ever made. Currently, I have not been working the program, but it helped stop my debt getting any larger. I need to refresh myself on the course. I have also seen the videos and they are a great investment of time. To have total success, you need to get your significant other on board too. And yes, your kids at 14 and 16 could learn a lot from this too. Good luck!

 

[sfdavis918]

For those of you who have used his products which do you recommend? I went & looked at his website & there are too many choices!! Does his plan work for people who don't have a regular source of income? What I mean by that is that my hubby & I are self employed. We do PC, SU & he has a maintenance business. We never know from one day to the next how much money we have?
I also saw a program for kids. Is it for little kids? Mine are 14 & 16. TIA.

He has a whole spreadsheet and goes into an explanation of how to budget for irregular income. It's actually a great program for that. The book is available at the library, check it out!

 

[finley1991]

Okay... signed up on the MTMMO website and went through the first few steps. UGH... it looks like it's going to take longer than I was hoping! I'm sure lots of you felt the same way when you started (please say you did!)

And of course in the mail today I got my EOB telling me that I have $200 in medical bills that will be floating in in the next few months. :grumpy:

 

[sfdavis918]

Okay... signed up on the MTMMO website and went through the first few steps. UGH... it looks like it's going to take longer than I was hoping! I'm sure lots of you felt the same way when you started (please say you did!)

And of course in the mail today I got my EOB telling me that I have $200 in medical bills that will be floating in in the next few months. :grumpy:

Oh my goodness, that is so true! Once you read a bit you will learn about "Murphy" too. Once things seem to be going great and you have the hang of it something will happen to put a kink in it!

That happened to us just this last week. We got a $1900 medical bill for my youngest's surgery that he had at 4 weeks old. He is now 17 months old. Uh, a little late, huh? Well, the best thing is that before DR it would have been a major blow to our finances, but I was able to pay it off right there and then! WAHOO!! I felt like such an adult!

Oh, and there is a free message board that some DR followers started. It's Living Like No One Else - There's hope in your financial life!. Lots and lots of great advice on there too!

 

[katie0128]

For classes - Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan.. The classes are called FPU - Financial Peace Univeristy. You can search for a class in your area with the link under "Hot Links" in the middle of the page. If you can't find it, PM me your ZIP code and I'll search for you.

YES, I did feel completely overwhelmed when I first started, but I think the classes might help there. Also, once you hear Dave's story and know where he came from and what he has now, you'll see how it is possible to completely turn your life around. However, one thing Dave stresses is that you didn't get into your mess overnight and you aren't going to get out overnight either! Same thing with savings... it is going to take a while to get where you want to be, but "slow and stead wins the race!"

 

[finley1991]

Thanks... I checked out the classes via the link! (THANKS!) And the only one close has their meetings on Friday nights and of course I am booked through Christmas on Fridays! Wouldn't you know!

It talks about buying the kit the first night of class. Can someone tell me what's in it and how much the kit costs? Thanks!

And I know it's not an overnight process... BUT I WANT IT TO BE AN OVERNIGHT PROCESS!!!!! :cry: (Sorry.. couldn't help myself!)

Regardless of going to classes, I'm still on with the program and will get the book this weekend and start on that. Thanks for all of your help!

 

[Leigh0725]

YES, definitely do it!!!! My DH and I are working through our debt and will be debt free (except for the house) at the end of 2009!!! That includes car loans, credit cards, and student loans!!!! Yeah!!!! I just read the book, didn't do any of his Financial Peace classes, but is SO worth it. We'll be debt free before hitting 30 and that is a HUGE step for us.

 

[DebbieJ]

You can also do FPU online. You don't have to attend an actual class.

 

[katie0128]

The kit includes your class registration, the workbook, the deluxe envelope system (I think that is what it is called), CD with all the forms he uses. I think there is more, but that is all I can think of off the top of my head.

We'll be debt free before hitting 30 and that is a HUGE step for us.

WOW!!! That IS impressive. You are off to a great start toward living like no one else!!!! Congrats!

 

[J.Corley]

I am a total Dave fanatic! It's one of my main reasons for doing PC. I recommend doing Financial Peace but if you are like me and don't want to spend the cash then buy the Total Money Makeover. Follow his Baby Steps and I promise you will be better off.
I truly believe we must live like no one else (pay cash/no more new debt!) so that later we can live and give like no one else (NO PAYMENTS EVER!!!!)
Can you just wrap your minds around that? No Payment!!!! Freedom!!!

I listen to Dave everyday and yes it is hard some days, but I am about another year from being totally debt free except the house.

 

[finley1991]

I have only used my debit card for years now. And at conferences and when I travel I always pay for my hotel with cash... otherwise they tie up my debit card for days. One time, the Hyatt held up $300 for over a month. So I do a lot of the cash thing. My only cc debt is what I racked up years ago when I was unemployed.. I used it to pay my rent and utilities. Just want to be done with that. I will get the book this weekend and have already downloaded the podcast so I can listen to that when I walk in the mornings.

Thanks again for all of your input! It's very inspiring!

 

[PaulaP]

My husband and I attended Financial Peace at our church a year ago. It was an amazing eye opener. We didn't have the debt to worry about but we did have a lot of impulse buying that was eating up our pocketbooks. Our church has offered this class for about 5 years now and it has made a tremendous change in somany peoples lives!! All for the good! Take the class, it is well worth the time and money!

 

[chefpayne]

It's neat to see everyone suggesting DR. I listened to him for about a year before my husband heard him and we tired FPU, our schedules were a nightmare this Summer so we were not able to finish. However, today my husband told me we need to sell our van. It is so funny cause I said the same thing about 8 months ago and I thought he'd never forgive me.
We are going to start baby step 1 and ya'll have just made my day. THANK YOU!!!

 

[itsjustCarla]

a friend didn't take the class, but she recommended getting the book on CD. She said that she listened to it over and over again until she knew what he was going to say before he said it. She said that she started working his progam and eliminated 5 yrs of student loan payments in 2. I bought the bok on CD but haven't listened to it yet. A church in our town was offering the classes, but I was afraid to try it......now, I guess I may have to sign up. My hubby's only contribution to the finances is the paycheck...after that, he's done other than to complain when a bill is late or a disconnect notice comes in the mail. I'm tired of taking on the responsibility all by myself, maybe this is a good way to get him involved. Wow.....ya'll are CONVINCING!

 

[krzymomof4]

What is the difference between the Financial peace program and the money makeover program. My DH and I are thinking of getting started, but not sure which to start with.

 

[tabnat80]

My DH and I are currently going through dave ramsey's financial peace book at our church. Some of it's been really beneficial to our finances. Kind of gotten us on the right track. I'm a stay at home mom so every penny counts.

 

[KellyTheChef]

Thanks for starting this thread!

I did a search for churches in the area who are doing his classes. I found one, but they started back in September so DH doesn't want to start in the middle of the class. They will be doing it again next year...maybe January or March, so please pray that he will be open to attending. We seem to make two steps forward and then three steps back when it comes to finances. I think this class would really help us...see the big picture, and to be on "the same page" as a married couple dealing with our finances together as a team!!

 

[pamperedpals]

Okay after reading all of your post's I'm going to go home and discuss this with DH tonight. We are in a not so good situation right now and it is VERY stressful. I think I get maybe an hour or two of sleep a night and I put on 10 - 20 pounds just because of the stress. I don't my kids to have to grow up in this environment.

This thread has been very encouraging. I hope this program is the answer to my prayers.

 

[KellyTheChef]

Laurie~

This very well may be the answer to your prayers!

God gives us hope in soooooo many different ways! I pray that you and DH will be a closer couple through this...and that God would bless your finances!

 

[sfdavis918]

I'd also like to recommend the webcast of one of his seminars. I think that is a great way for some of you to get your significant others on board. It was a serious eye opener to my DH and was what finally got him on board 100%. He was hesitant about even watching that so I just asked him to set some time aside for it, because it was really important to me. This is way TMI, but I also offered him a "reward" and that was all it took!

 

[pamperedpals]

Laurie~

This very well may be the answer to your prayers!

God gives us hope in soooooo many different ways! I pray that you and DH will be a closer couple through this...and that God would bless your finances!

Kelly~

Thank you for your prayers and well wishes. I'm just completely beside myself with worry and stress. This is a definate must do.

Thanks again!

 

[tabnat80]

YES, definitely do it!!!! My DH and I are working through our debt and will be debt free (except for the house) at the end of 2009!!! That includes car loans, credit cards, and student loans!!!! Yeah!!!! I just read the book, didn't do any of his Financial Peace classes, but is SO worth it. We'll be debt free before hitting 30 and that is a HUGE step for us.

Hey-
That sounds just like my DH and I. Our goal is to be debt free by 2009 as well. We don't have a lot on credit cards, but we do have a nice size student loan and land payment that's putting a hole in our pockets. So far the Financial Peace has worked for us. I have been making a menu (for two weeks) before I go to the grocery store and have found that I have been spending 1/2 of what I was before on groceries. We are still working on step 1, saving $1000. I can't wait until we get to the debt snowball step. It's nice to know that there is hope that we won't always be struggling, especially since I'm a stay at home mom. Good luck to you.

 

[SilverCeladon]

What is the name of the book? I've never heard of him but your testamonials are awesome!

 

[finley1991]

Hey-
That sounds just like my DH and I. Our goal is to be debt free by 2009 as well. We don't have a lot on credit cards, but we do have a nice size student loan and land payment that's putting a hole in our pockets. So far the Financial Peace has worked for us. I have been making a menu (for two weeks) before I go to the grocery store and have found that I have been spending 1/2 of what I was before on groceries. We are still working on step 1, saving $1000. I can't wait until we get to the debt snowball step. It's nice to know that there is hope that we won't always be struggling, especially since I'm a stay at home mom. Good luck to you.

Excellent! One great way to save on groceries is to do the Grocery Game. You can try it for $1. If you decide to do it, please use me as a referral ([email protected]). The last time I went to the store, my bill was $65 and I saved $58!!!!! So I got over $110 in groceries! It's really worth it!
(Done with hijack!)

The website is: Coupons, Grocery Coupons - TheGroceryGame.com

 

[poohritz]

crown money mapThere is also the Crown Finacial money map. I like the way it has you saving in little steps. I recently paid off my car and other debt. Now to start saving for a down payment for a house. Here is the web site for those interested
https://www.crownmoneymap.org/MoneyMap/Login/FrmLogin.aspx

 

[chef_kimmo]

Okay after reading all of your post's I'm going to go home and discuss this with DH tonight. We are in a not so good situation right now and it is VERY stressful. I think I get maybe an hour or two of sleep a night and I put on 10 - 20 pounds just because of the stress. I don't my kids to have to grow up in this environment.

This thread has been very encouraging. I hope this program is the answer to my prayers.

Laurie,

I am in the same situation as you are although it is me - all me that has gotten me in this situation. My best intentions has not worked.

It is funny that I should have time to be able read on Chef Success for a little bit and I ran across this thread. I brought to work today a file folder with my bills so that I can start making payments. I finally got an insurance check last night for the items that were stolen from me and my plan is to catch up as much as I can. Even though it was considerably less than the total value it is something that will help me to a starting point.



I have bought a couple of David Bach's books and have listened and read about Dave Ramsey. I think both have some similarities and I hope to do a combination of them. My biggest question between the 2 is the different concepts.

One says pay off your smallest debt first and one says pay off your highest interest first. I think you should combine that - obviously if you have a fairly small debt - pay it off quickly. But then from there I would think that you would take that extra money you and apply it to the debt with the highest interest rate. You getting charged for the higher rate so that is why I wonder about how DR says to go to the next smallest bill.

I did a search one time and found a place that a did a comparison of the exact same debt pay off using the different methods.

DB also points out something that I am not sure I hear from DR - that is getting rid or lowering your "Latte Factor". It is amazing how much money you can save by doing that.

Sorry for the long post and many of you may not read it all - but I have seen the posts about people complaining about people posting right after each other. I do it to sort topic on same thread...

Best of luck to everyone doing this and I know right now I am working on finding some financial peace - no matter how it gets done!

 

[sfdavis918]

Kim,

DR's reasoning for paying off debt from the smallest to largest is more psychological than anything. When you have the victories of paying off some bills (the smaller ones) it gives you more motivation to continue with the plan. If you start with a large bill that is going to take a year to pay off and have no victories in between you are more likely to "fall off the wagon". Also, when most people start his plan and get really intense about getting their debt paid off the difference in interest is usually not much, usually only enough to give up a Friday pizza.

DR also talks about the "latte factor". He is very big about this. Especially when you are starting the baby steps. He talks about living on rice and beans while working steps 1 and 2. Like he says, live like no one else so later you can live like no one else!

I am a huge fan of DR (If you couldn't figure that out already! ) and am passionate about what he teaches.

 

[katie0128]

Kim - I would suggest you review both programs again and then pick one. If you jump back and forth between the two, you might end up getting frustrated, which won't do any good.

While I do think that Dave Ramsey's plan is great and can work for everyone, this isn't the only plan that will work. You need to pick the plan that makes the most sense to YOU and that YOU are passionate about.

 

[chef_kimmo]

Kim,

DR's reasoning for paying off debt from the smallest to largest is more psychological than anything. When you have the victories of paying off some bills (the smaller ones) it gives you more motivation to continue with the plan. If you start with a large bill that is going to take a year to pay off and have no victories in between you are more likely to "fall off the wagon". Also, when most people start his plan and get really intense about getting their debt paid off the difference in interest is usually not much, usually only enough to give up a Friday pizza.

DR also talks about the "latte factor". He is very big about this. Especially when you are starting the baby steps. He talks about living on rice and beans while working steps 1 and 2. Like he says, live like no one else so later you can live like no one else!

I am a huge fan of DR (If you couldn't figure that out already! ) and am passionate about what he teaches.

Thank you...

I see what you mean and totally can see the idea of getting some bills paid off which does get people to continue.

My post was getting really really long and I didn't want to go into the idea of rice and beans, beans & rice but I do know about it. I have listened to DR for a long time on my car radio and on my computer (since the radio won't pick up a.m. stations).

I have a fellow PC consultant friend that I have recommended that she get on his plan.

I am not knocking DR just think it good to compare and just get it done. Also, I know that DB has specifically mentioned PC in one of his books which could be good for us in recruiting.

 

[chef_kimmo]

Kim - I would suggest you review both programs again and then pick one. If you jump back and forth between the two, you might end up getting frustrated, which won't do any good.

While I do think that Dave Ramsey's plan is great and can work for everyone, this isn't the only plan that will work. You need to pick the plan that makes the most sense to YOU and that YOU are passionate about.

Katie, you are very right. I can see how it could be frustrating... I should have read your post before replying to the last one.

I am very much a person who believes in just getting it done. My problem is when the money started getting lower and lower, I wasn't doing much. I had some bills on automatic bill pay but others I thought I can't afford it and I will get it tomorrow. The problem is that tomorrow has been a couple months tomorrows and now all those late fees and interest charges are making me sick to my stomach.

Thank goodness for the insuranace check that will help get on my feet.

Next step - get those taxes done that I have be talking about for months now and that should help a ton. I have decided the budget starts NOW!!!

I spent too much money at the grocery store last weekend so we will be eating on that until it runs out and then it is rice & beans - beans & rice for a long time.

 

[Leigh0725]

Just an FYI - Dave Ramsey is now on TV!

FOX BUSINESS NETWORK NAMES RADIO SHOW PERSONALITY DAVE RAMSEY AS PRIMETIME HOST

 

[finley1991]

I really wanted to see that last night and missed it! It's on at 8pm here... I had a meeting last night and have a show tonight. Hopefully I'll get it tomorrow night!

Too bad he's not on the radio here... can you believe in a major city like detroit, he's not on? I got the list of stations and all of them are small ones and I can't tune any of them in as they are too far away... Bummer too.

But that's okay... just download him to my ipod and I'm good.

 

[Leigh0725]

If you have DVR, you can set to record his show. Just a thought.

 

[DebbieJ]

You can also stream his radio show live via the internet. That's how I used to listen until a station here picked him up.

Our cable provider doesn't carry the Fox Biz Channel, so I can't watch his show. Bummer!

 

[Rebeccascabinet]

I've read both of DR and DB's books and I incorporate both theorys. I think, for my lifestyle and family, there are pros and cons to both and I use ideas from both guys. We are almost debt free and its been discipline and knowledge and I got that from both DR and DB.

 

[pamperedposey]

For anyone who is still considering FPU, but is putting it off my husband told me that he usually offers the program at half price around the holidays. We got registered for $99 this past January and loved it! We still haven't taken the last few courses, because we moved to a new area and haven't looked for our local classes yet. That's what's great about it though is that you have free registration for life. We were going to the classes at his office in TN. It was kind of fun knowing that he was there in the building often.

Anyway, I highly recommend it! :thumbup: Just wait a couple of months and get it 1/2 off.

 

[GeorgiaPeach]

Eek...is our battle cry!!Thanks to this thread I have begun to be "gazelle intense". We went to Kentucky last weekend. I read Financial Peace on the way up, listened to the Total Money Makeover on CD on the way home.

For those that might check out DR or another system like his and are thinking that you'll do it later when more money is coming in because you just don't have enough to work with right now. We are in that place.....the money ends before the month does Let me share this....we are in a VERY rough place financially right now. When he says that you need to build an emergency fund of $1000 first I thought (based on where we are right now) that it would take a few months to get to that place. But Monday afternoon as we finished listening to the last book we committed to doing whatever it takes to get back on track. Today we received TWO checks for a good amount of money that we were NOT expecting! We should hit the $1000 mark within the next two weeks!!

I firmly believe that until we let go of whatever is holding us back (bad habits, our pride, meals out!) we cannot receive the good things awaiting us. I think Suze Orman uses this visual of our hands being clenched around whatever is holding you and until we let them go our hands can't be open to receive the good things.

I feel that Monday evening we opened our hands.

A funny thing about Dave's analogy of being like a gazelle that is chased by a cheetah. A gazelle can't outrun a cheetah but they dodge and turn until the cheetah wears out. He says we need to be gazelle intense about getting rid of debt. If we are smart we can avoid being eaten by our debt (cheetah). My family was discussing some of the changes we needed to make to do this. I said we needed a battle cry to say when one of us wanted to do something that was no longer allowed. My husband said it should be "EEK"! His reason is that he thinks that's what a gazelle says when he sees the cheetah coming Oh, God love that man He has such a goofy way of looking at things but that is now the DeWees Family Battle Cry

 

[DebbieJ]

Lisa, congrats to you and your family!!!! And welcome to the TMMO.

To get our $1k in place, we had a garage sale and sold a whole bunch of stuff on Ebay and Craigslist. You can do it!

 

[chefann]

Here's a delicate question...
I know someone who would benefit from this program. She and her husband have been working hard to provide extras for their kids (ballet lessons, private school, etc.). Her PC business has not been cutting it, financially, and she's not in a place in her life where she can devote more time to it (in fact, she mentioned on the phone to me that she's thinking of quitting to get a job outside the home). We do exchange Christmas gifts - would it be overstepping my bounds to give her DR's book this year instead of the usual frou-frou?