Book Review: Financial Peace

Financial Peace (revisited)
By: Dave Ramsey

Overwhelmed by debt?
Does it seem like you are throwing your money into a bottomless pit of debt?
Do you feel like you are never going to get ahead?

It was these feelings that motivated me to check out Dave Ramsey's Financial Peace (revisited). Initially I had never heard of Dave Ramsey before and was in doubt of whether or not his message would do me any good. Within the first few pages of the book, I found myself becoming inspired. Dave Ramsey recounts his tale from being a young successful real estate entrepreneur with a net worth of 4 million who had all it to losing everything but his home. Dave details the struggle that he and his wife went through to get back on their feet and the desire to help others in the same situation.

Financial Peace (revisited) is the second edition of Dave Ramsey's successful book Financial Peace. In the 2nd edition he covers the basic to becoming debt free. This includes creating the foundation to becoming debt free, learning to avoid money traps, saving money and more. Dave also included chapters specifically targeting singles, kids, marriage, and families.

In this book he discussed the concept of the "debt snowball". This method basically entails paying the smaller debt first and then compounding the payments until each bill is paid. Ramsey stressed the importance of "baby steps" in which he lists several steps to get you started. As an added bonus, the book contains budget, debt snowball, and other financial forms to aid in your journey towards financial freedom.

In my small library of financial books, this particular one is the first that I bought. When I first read the book I couldn't afford to buy it so I checked it out of the library. Once I had the money, I bought it and consider it to be one of the best investments I've ever made. If you are questioning how to get out of your financial situation, this is definitely the book to get you started.