Dave is a guy that started with nothing, became a millionaire, lost it all, and deciding he didn't want to repeat that process a second time decided to figure out how money really works, what caused him to lose it all and how not to lose it all again. What appeals to us the most about what he says is that it is presented in a way that's very easy to understand. The things he says just clicked with us an it would seem, millions of others. You can read more about him at his website. Dave has taken the knowledge he's gained and turned it into a big business. He has a daily radio show, Podcasts, etc, etc, etc. Spend some time exploring his web site and you'll see what he's all about.
The book Donna and I read and have bought for our children is called "The Total Money Makeover" and it is based around 7 baby steps that one can take to get control of your finances. At the bottom of this post are links for his books on Amazon. If you click the link and buy the book I'll earn a small commission.
I will be writing about each of the 7 baby steps described in Dave's book. Each one is worthy of it's own post but as a summary here are the 7 steps and you're supposed the follow them in order:
- Establish $1,000 Emergency Fund
- Pay of All Debt (except house) With The Debt Snowball
- Put 3 to 6 Months Expenses in Savings
- Invest 15% of Income into Roth IRAs and Pre-Tax retirement Plans
- College Funding for Children
- Pay Off Home Early
- Build Wealth and Give
I will be writing about each of these in upcoming posts. As those posts are written I'll come back to this post and update the list to links to each post.
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