Ahmad, Siti Yuliandi
(2025)
Book Review:The Total Money Makeover - Dave Ramsey.
Journal of Wealth Management & Financial Planning, 12 (2).
pp. 1-4.
Abstract
Dave Ramsey is a prominent American personal finance educator, who built his reputation not on academic credentials but through lived experience. He holds a degree in Finance and Real Estate and began his professional journey by accumulating substantial wealth through property investments in his twenties. However, his early success was short-lived. Relying heavily on borrowed money and short-term bank financing, Ramsey found himself bankrupt when banks demanded repayment and withdrew credit. This financial collapse became a defining turning point in his life.
Instead of retreating from the financial world, Ramsey chose to rebuild from scratch. He started studying personal finance with a focus on practical solutions rather than theoretical models. Drawing on biblical principles, personal trial and error, and his own failures, he developed a philosophy centered on complete debt elimination, disciplined spending, and long-term financial independence.
Ramsey launched a small financial counselling business that quickly expanded into what is now known as Ramsey Solutions, a multi-platform financial education company. His national radio show, now titled The Ramsey Show, reaches millions of listeners and is renowned for its candid advice, heartfelt testimonials, and strong emphasis on personal accountability. His core audience largely consists of middle-income earners, many of whom feel overwhelmed by debt or financial instability and seek clear guidance.
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