When Dave Ramsey was experiencing his own Total Money makeover, he found that journaling was very helpful and effective.
Dave says, Take this journal and record everything happening that seems like a big deal. Record the relationship issues, the debt, the emotions, the setbacks, the victories, and anything else that seems important at the time.
The immediate benefits of writing everything down are twofold. First, writing helps you process the problems and victories. The second immediate benefit of journaling is that you can reread your entry just days-even months-later and gain vital perspective on your progress.
Write it down. You will be glad you did.
Radio talk-show host and bestselling author Ramsay (Financial Peace) is less a financial analyst and more of a preacher, which explains both his popularity and the appeal of this book, which jsut might gain a wide audience. The bedrock of his system is simple: work hard, pay what you owe and stay out of debt. His main commandment is "Pay cash." He first exhorts the reader to take "baby steps," which are designed to build on each other: first, save $1,000 as an emergency fund; then, pay off all debts from smallest to largest; save a larger three-to-six-month emergency fund; finally, start to save for college and pay off your home mortgage. Ramsay understands the difficulty in putting these steps into action, and therefore packs his book with personal testimonials from everyday people who have used his system and have become debt free, with obvious struggles. The key is what Ramsay calls "Gazelle intensity," which is to live a financial life the way a gazelle saves itself from an attacking cheetah-"outmaneuver the enemy and run for your life." While Ramsay provides some helpful charts and graphs so readers can keep track of their efforts to follow his steps, the strength of this book is that it is a straightforward motivational tool. He provides the brutally direct truth about the hard work it takes to become free of debt, and his directness is a great part of the book's charm. (Sept.) Forecast: Nelson plans an aggressive-and unusual-campaign: a financial makeover contest, promoted through Ramsey's 31-city author tour and broadcasts; the winner will receive $55,000. Copyright 2003 Reed Business Information.
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December 03, 2007
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