Anyone read both Total Money Makover and Financial Peace University by Dave Ramsey? Need 2 read both?

Question

Or are the concepts basically the same????

Answer 1

I have read both books, attended FPU and been to his live event.

You don't need to read both. The concepts are the same the layout is different. The Financial Peace Revisited book also has a workbook, so if you are the type of person that needs to do your figures, I suggest those two things. If you don't, Total Money Makeover is good. Both are good both have good stories and lays his plan out in his easy to read/understand style. I personally liked the Financial Peace Revisited better because of the workbook. It helped having the workbook to work on my own family’s budget and debt, etc while reading his book.

The first poster said you need credit to get a car and a house. S/he is wrong. For a home mortgage you need to us a manual underwriter if you have little to no credit and as for a car if you follow Dave's plan, you pay cash.

I love his plan, it is all about discipline and using what you have for current and future financial needs (clothing, housing to retirement).

I am also reading Suze Orman. I don't like her need for all of us to keep our FICO score. If you follow Dave's plan you don't need a FICO score. I do like her more in depth information about wills and trusts. (9 steps to financial freedom is what I am reading).

I have also read Howard Dayton's book: Your Money Counts. (Like Dave, a Christian financial counselor). His plan is basically like Dave's. Actually Dave took a lot of ideas from Crown Financial (www.crown.org). I think Dave packages the information better.

Even if you aren't in debt I know Dave can help you. My parents have started following his plan and they are debt free. They are looking at retirement differently (since they are baby boomers) and how to be prepared for the last several decades of their life.

Good luck and read read read :-) After you get a plan to your financial life, I suggest reading The Millionaire Next Door by Stanley. I read this many, many years ago before hearing of Ramsey, loved the idea of the book but didn't know how to make it work until reading Ramsey.

Answer 2

I haven't read either, but I have FPU as an audiobook and checked the Total Money Makeover from my library (I will read after I'm done reading a Suze Orman book, though I'm not saying that her advice is superior...). His basic message is that people should live within their means, all debt is bad, and we need to save money.

A lot of his converts appear on Yahoo! Answers and many of them started his programs while they were in debt and his advice has helped change their lives.

I have been very careful to avoid going into debt by living within my means and paying off my credit card in full and ahead of time every month (just to be on the safe side).

Credit is a necessity if you ever want to own a home or need a car loan (I've always gone for used cars myself because it doesn't make financial sense to purchase a car off of the lot -- there's an instant and quite sizable depreciation that your auto insurance doesn't cover if you're hit) if you need to rent a car or a hotel room.

It seems like there will be repeated information, but you could probably just skim over it.

Answer 3

I've read The Total Money Makeover, and it outlines the 7 Baby Steps very well. I don't think you need to read both to follow his plan.

Answer 4

very good question