Credit Cards - Financial Peace Revisited
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List Price: $23.95
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Manufacturer: Viking Adult
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Average Customer Rating:  
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Binding: Hardcover
Dewey Decimal Number: 332.024
EAN: 9780670032082
ISBN: 0670032085
Label: Viking Adult
Manufacturer: Viking Adult
Number Of Items: 1
Number Of Pages: 352
Publication Date: 2003-01-27
Publisher: Viking Adult
Studio: Viking Adult
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Editorial Reviews:
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Dave Ramsey knows what it's like to have it all. By age twenty-six, he had established a four-million-dollar real estate portfolio, only to lose it by age thirty. He has since rebuilt his financial life and, through his workshops and his New York Times business bestsellers Financial Peace and More than Enough, he has helped hundreds of thousands of people to understand the forces behind their financial distress and how to set things right-financially, emotionally, and spiritually.
In this new edition of Financial Peace, Ramsey has updated his tactics and philosophy to show even more readers:
* how to get out of debt and stay out
* the KISS rule of investing-"Keep It Simple, Stupid"
* how to use the principle of contentment to guide financial decision making
* how the flow of money can revolutionize relationships
With practical and easy to follow methods and personal anecdotes, Financial Peace is the road map to personal control, financial security, a new, vital family dynamic, and lifetime peace.
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Spotlight customer reviews:
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Customer Rating: 
Summary: It's what that's missing that makes this a poor read....
Comment: My family have been dealing with some real tough times these last few years and most of them are the result of lack of steady of employment and the sudden increase of inflation. There are five of us, so I long ago decided to swallow my pride and make some drastic changes in our lifestyles to get things under control. My MBA notwithstanding, I saw a major adjustment to my income and basically changed my whole pride-equation. (Accepting hand-outs, shopping at Goodwill, etc.)
So, I suppose I should be thankful to have received this book as a gift. However, I was seemed to get more and more upset after each chapter. There are many things wrong with the premise and delivery of the message in the book but wanted to point three important problems the text. Of course, there are many more.
Not all of us live in Atlanta! I surmised that Dave Ramsey is a radio personality and my relative (the gift-giver) lives there. But, the recommendations and anecdotes are really not designed for someone not living in that environment. In Atlanta, materialism is encouraged...heavily. So, the whole book assumes that the reader has the same problem with keeping up appearances. But, this is a local phenomenon. What about other people that abandoned primping and focus on saving but stlll can't make ends meet? Even here in Silicon Valley, most are quite unapologetic about humility. We have many multimillionaires here but even the most wealthy drive old cars and inexpensive clothes. There is no drive to keep up with them.
A single paragraph on annuities is almost criminal. Most that will read this book don't have a formal financial education. So, they won't see what's wrong here. But, Mr. Ramsey tries to explain the most well-known financial instruments and mentions then discourages the use of annuities. But, he doesn't explain why an annuity is a great tool to make sure you have a steady income after you get a inheritance or lottery winning (for instance). He compounds the crime further to explain the details of mutual funds for 3 -4 pages. Not once does he mention ETFs (Exchange Traded Funds)! Clearly, he is pitching to have readers buy into HIS fund. It's a poor sales job and, I'm not buying it.
Finally, no cake but plenty of frosting. The book is broken into sections where his wife comments on their own experience(s) . But never once does he detail the exact problems and solutions. The book is chock full of anecdotes but it's all just crap. These are the extreme cases. I'll take Suze Orman ANY DAY over this guy because within a few minutes she explains exactly what's happened, what's going on and what will happen if you don't get it in gear.
Seriously. Avoid this title.
Customer Rating:
Summary: A MUST read for evey high school senior
Comment: Every parent should make this a must read book for their child before he or she goes off to college or graduates high school. It will save them from many problems that face so many in this economy.
Customer Rating:
Summary: Stuffitis and Big Big Bargains
Comment: First, I feel that most of Dave's advice is perfectly solid, and almost guaranteed to get anybody out of debt. The debt snowball and gazelle methods are right on. You have to be extremely motivated to get ahead financially, especially if you are tens or even hundreds of thousands of dollars in the hole. His worksheets for budgeting, managing debt etc are simple, straightforward and will get the job done. Nevertheless, I have no choice but to ding the rating on this book, and give it only 3 stars because of one chapter that I find completely unfocused and potentially very damaging: the "Only Buy Big, Big Bargains" chapter. Here's the thing: I've never been in the kind of debt Dave and his listeners have experienced. Never. The reason being: I come from a frugal Scots-Irish family and materialism was always discouraged in my family. Frugality was always praised and rewarded. These are lessons I absorbed in my baby formula. My father's two uncles were bachelor farmers who accumulated a legendary FORTUNE by living simply, frugally and not letting themselves get sucked into the acquisitive, materialist mindset that started taking over this country from the 1950s and onward. Since they were the only rich people I ever met personally, I have based my own financial decisions on their example and folk/inherited wisdom. The number one thing they (and I) would NEVER DO is pay even a cent more than we have to for any type of depreciating asset. The chapter on Big Bargains in Dave's book rambles on for pages on how to get a great deal on a luxury car (that you would STILL end up paying 5 figures for!), implying that you don't *really* have to make any sacrifices to make his system work. This is just like telling a room full of alcoholics that they can still have an occasional beer, as long as they water it down with some ginger ale first. ABSURD. I have to tell Dave's readers that if you want to be wealthy, and teach your children to be wealthy, you MUST adhere strictly to the "Rich Dad Poor Dad" principle of investing in ASSETS, not LIABILITIES. Spend the least amount possible on a depreciating asset like a car, without actually buying a lemon. There aren't many individuals or families that couldn't get by with a secondhand Toyota Corolla, and you can probably get one with about 20 to 30 thousand miles on it for under 10K. NEVER spend more than FOUR digits on a car. That should be GOSPEL. My great uncles drove their pickup truck until it rusted and fell apart and they had no choice but to buy another one, to run the farm. They paid cash for a new truck at that point, although the dealer sneered at their ragged overalls and thought they weren't customers worth his time. Boy was he ever wrong! They were without a doubt the richest people he probably ever met in his pitiful life. You can get rich too, but NOT BY PURCHASING DEPRECIATING ASSETS. If you like "nice things" the way Dave does, then learn to like "nice things" that typically APPRECIATE IN VALUE: paintings, antiques, fine oriental rugs -- NOT CARS. Buy only barely enough car to meet your transportation needs. That's it. Ignore Dave when he gushes about a luxury care he got such a great deal on. He is totally brain farting on this one.
Customer Rating:
Summary: You'll never regret getting your finances in order
Comment: I took the Financial Peace University class and received this book along with the class materials. Dave Ramsey is a special financial adviser in the way that his advice focuses on changing financial management behavior first and then getting into the more in-depth details later.
There are a lot of reviews and descriptions here, so I'll keep my thoughts on this simple: check out the book, take the program, and you will not regret it. This works if you apply it from my experience and the experiences of those I know who took the class. This isn't a quick fix: it'll take you a couple months to get the hang of things and some time after that to get your finances in order.
If you're serious about changing your financial future, you should really take the class, too. It's cheap and they are conducted throughout the country.
Customer Rating:
Summary: I wish I would have known this a long time ago. But still helpful now!
Comment: Dave Ramsey makes everything so simple. I just wish I would have had this information in my 20s or even younger. It is changing my life. It gives me hope and promise.
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