Even though you might not have planned to have kids just yet, an unexpected pregnancy might happen this very year. Your job might be “downsized, rightsized, reorganized” – or you might just get fired.

The event we’re talking about can be absolutely anything. 1: save $1,000 cash as a starter emergency fundĪccording to Money magazine, 78% of Americans will experience a major negative event with severe financial consequences in any given 10-year period. So, get ready to design a sure-fire step-by-step plan to pay off your debts and prepare to secure “a big, fat nest egg for emergencies and retirement.” Ваby step No. “Make them,” he says, “and you’ll retire as a rich, debt-free American with a house of your own and enough money to enjoy every day until the last one.” This has always been the framework of Dave Ramsey’s fiscal philosophy that he sums up in a simple motto: “we can do anything financially if we do it one little step at a time.” In “Total Money Makeover,” he presents his readers with seven such steps – baby steps, he calls them. It’s the other way around when you focus on a single task and do it with vigor to completion then, and only then, you should move to the next step. When you are hasty or ambitious, or you simply try to do everything at once, progress can be very slow or nonexistent. The tortoise beat the hare in that famous fable because it knew this age-old wisdom better than its fearsome rival: small, steady steps work much better than haphazard jumping.

The total money makeover summary