Book Review: The Total Money Makeover

The Total Money Makeover by Dave Ramsey is a must-read for anyone snowed under by debt and feel there's no way out. Following are three reasons why:

1. Personal debt experience: I'm a sucker for anyone who has been where they are telling other to go. After all, how can you tell me about Paris when you've never been?

He's very honest and straightforward about his own financial past - filing bankruptcy, having it all and losing it (twice!), and the life-altering decision of dealing with the demons that caused him to get into financial trouble in the first place.

Not only does the author delve into his own story, he includes countless testimonials from real people who have dug out from under 20K, 50K and 80K in debt. These examples illustrate clearly how everyday people - eg, school teachers, plumbers and single moms - dug out from under debt.

Some did it in as little as a year, others took several years.

2. Plain talk about debt: Usually, when you read any type of book on debt, you are inundated with numbers, financial jargon and a host of other debt "industry speak" that can be a real turnoff. Sometimes, I wondered if I was reading a comedy.

Mr. Ramsey writes as if he's sitting right across the table talking to you talking about your debt. He uses humor - a lot of it self-effacing, personal stories and plain old facts to illustrate his points.

There's not a lot of financial speak here, and he doesn't bombard you with other product offerings, which surprised me because when I visited his website, it was chock full of products he could have pushed throughout the book.

3. A realistic debt-reducing plan: The main reason I liked this book is that it sets forth a realistic plan for getting out of debt. And, he tells you right up front that there are no secrets, it ain't gonna be easy, but you can do it.

One thing he advises is to create an emergency fund of at least $1,000 BEFORE paying trying to get out of debt. He explains in great detail why this is critical to your debt-conquering success.