![]() By tracking your income and expenses, you can identify areas where you can cut back and save money. The importance of budgeting: Budgeting is a critical component of financial stability.This means making conscious decisions to spend less money than you earn. Live below your means: To become financially stable, you need to live below your means.# Key takeaways from the book “The TOTAL MONEY MAKEOVER by Dave Ramsey”: It has helped millions of people get out of debt and achieve financial freedom. Ramsey also emphasizes the importance of having a positive mindset and staying focused on your financial goals.The Total Money Makeover has been widely praised for its practical advice and simple, easy-to-follow approach. He provides practical tips for reducing expenses, increasing income, and investing for the future. Throughout the book, Ramsey emphasizes the importance of budgeting, living below your means, and avoiding debt. Save for your children’s college expenses.Invest 15% of your household income into retirement accounts.Save 3-6 months of expenses for a full emergency fund.Pay off all debt except for your mortgage using the debt snowball method.The book is divided into seven steps that individuals can follow to achieve financial freedom: The book offers a step-by-step approach to getting out of debt and building wealth. The Total Money Makeover is a personal finance book written by Dave Ramsey. ![]() 15 min to read The TOTAL MONEY MAKEOVER by Dave Ramsey ![]()
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