Key insights from
The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness
By Dave Ramsey
Audio available
11 minute read
Published Sep 17, 2013
What you'll learn
Americans are some of the richest people in the world, but most can’t hang onto their money. Personal finance guru, Dave Ramsey, lays out a proven path to financial freedom that crushes debt and creates more wealth than one might expect.
Key insights
- 1 80 percent of personal finance is related to behavior rather than knowledge.
- 2 Before doing anything else, save up a $1,000 emergency fund.
- 3 Attack your debts in order from smallest to largest to rack up wins and build confidence.
- 4 Having six month’s worth of expenses saved turns crises into bumps in the road.
- 5 It’s only when you’ve regained control of your income that it can start working for you and for others.
- 6 If you can’t learn to be generous, you still haven’t achieved financial freedom.
- 7 Whether your income is large or modest, this is the best way to get rid of debt and create wealth.
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