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Book Review: Smart Money Smart Kids

June 18, 2014 By

Smart Money Smart Kids

“Smart Money Smart Kids” by Dave Ramsey and Rachel Cruze is a book about how to raise your kids to win with money.  I was excited when I heard this book was coming out and am happy to be able to review it.

The advice is age specific which gives parents helpful suggestions to use with their own children.  If you have read “The Total Money Makeover” you will not see a lot of new in this volume other than the suggested ages to talk about finances.  It is put together different, obviously, in order to keep your children from going into debt to begin with rather than trying to dig them out of debt.

My favorite part of this was hearing the Ramsey stories from Rachel’s perspective.  If you have listened to the radio show for any length of time you have heard Dave talk about family stories.  Hearing Rachel’s side was quite interesting to me as she was the child on the other side of the talks.

All in all it was a worthwhile read for me even though I have read his other books and gone through Financial Peace University.  I would definitely recommend it if you have a child and you want some suggestions on how and when to talk to them about certain aspects of money management.

For further information or to see other reviews visit the book’s page on Amazon.

*Note: I received a copy of this book at no charge in exchange for my honest review.*

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Review: The 21 Day Financial Fast

January 17, 2014 By

The 21 Day Financial FastAbout the book: “The 21 Day Financial Fast” by Michelle Singletary is “a field-tested financial challenge. For twenty-one days, participants will put away their credit cards and buy only the barest essentials.”

The whole idea is that you do not purchase anything other than necessities for 21 days. Nothing. This allows you to save money and see where you are wasting money. The idea being at the end of the fast you will have learned how to make lasting changes to your financial situation for the better.

My favorite part was the idea of having both an “Emergency Fund” and a “Life Happens Fund.”  The emergency fund is used for 3-6 months or more of household expenses in the case of a loss of income. The life happens fund is for when the car breaks down or the stove goes out and needs replaced and the author recommends $700-$1000 in that account. It allows you to be thoroughly prepared for both situations.

I did not agree with the way the author presented the material in some cases.  There are sections where the text comes off judgmental (such as the chapter on entitlement) or other places where the author seems to be trying to make the reader feel bad in order to make a change.  I would like to believe that the author’s intent was not to come off this way but it certainly changed my mood and opinion of the book in those sections.

Finally, if you have read “The Total Money Makeover” by Dave Ramsey or other similar books you will get very little, if anything, new in this book other than the 21 day concept.  I think this concept is worth taking a look at the book and can be a helpful tool to those who have trouble controlling their spending habits or need help shedding some light on their habits.

All in all it is a great concept with potential that came up short.

For further information or to see other reviews visit the book’s page on Amazon.

*Note: I received a copy of this book at no charge in exchange for my honest review.*

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Review: The Total Money Makeover Classic Edition

September 21, 2013 By

TTMM Classic EditionThe Total Money Makeover by Dave Ramsey is a classic text on how to eliminate debt step by step and why you would want to do such a weird thing.

The book is broken up into the seven baby steps which are:

* $1,000 Starter Emergency Fund
* Paying Off Debt with the Debt Snowball
* 3 to 6 months of Expenses in Savings
* 15% of Household Income to Retirement Accounts
* College Funding
* Pay Your Mortgage Off Early
* Build Wealth and Give

Dave not only give you instructions that work but also explains why he recommends doing things in the order given. There are several examples of families that have gone through the steps woven into the book so you can see that real people have made a real difference in their life.

I can’t say enough good about this book. It is a game changer for many people and I have seen the principles here turn on light bulbs for people through Financial Peace University. It is a common sense approach for managing your money written in a quick and easy to read style. It has budget worksheets in the book that you can use to help you along the way.

With all of that being said I will tell you that even following the plan the journey isn’t always easy. There will be difficulties here and there and when that happens you just have to keep pushing forward. I promise you it is worth the effort! I ordered my first edition of this book in 2010 somewhat by accident. When it arrived I read it anyway and it began a change that has lasted ever since in my family. It taught us how to be much more financially responsible and for that I thank Mr. Ramsey.

Lastly, this book is not for everyone. You really do need to be ready to take charge of your finances before this book will be of help to you. Also, in full disclosure, while I agree with 98% of what is taught there is that 2% that I think people need to make their own judgements on. That being said, his plan does work and I would recommend for anyone to try it and make adjustments where they feel it is needed in their own life.

For more information, other reviews or to purchase check out the book on Amazon.

*Note: I received a copy of this book at no charge in exchange for my honest review.*

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ENDED: Giveaway: 1 Starter and 1 Deluxe Envelope System to Manage Your Finances

July 7, 2013 By

Congratulations to Emily C. for winning the Deluxe Envelope System and and Leah K. for winning the Starter Envelope System!

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We are giving away two envelope systems this week! These are both from DaveRamsey.com and feature the FPU logo embossed on the front.

All you need to do to enter is follow the directions below.  Winners will be contacted no later than Monday, July 15, 2013 and will be announced on this page and our Facebook page.

****Sign up form removed. Giveaway has ended.****

Deluxe Envelope System

Deluxe Envelope System

Starter Envelope System

Starter Envelope System

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Make the Call

February 6, 2013 By
Last Call

Photo Courtesy of eefeewahfah

You have to decide. Right now you must make the decision to decide. Decide what exactly? Well, what decision have you been putting off?

Everyone has to make choices and decisions. The important point is actually making them. We have all put a decision off and then proceed to make excuses as to why we can’t make a choice right now. The longer you put off a decision the harder it becomes to make — you must make the call.

Dan Miller suggests giving yourself a timeline. Give yourself a few days on the important decisions, consult those you need to get input from, and you make the call. You put a date on the decision and when the day comes you make it – no excuses.

Or you can try the Dave Ramsey way. Think about the worst possible outcome that your decision can have. Can you live with it? If so, then go. Many times the worst case scenario is not as bad as we imagined it once we actually think about it.

We all have hard decisions to make from time to time. The important thing is to make them.

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