Total Money Makeover Summary

[CeciMami]

Anyone got a short and sweet summary of this book that I can throw at my DH? (not literally of course ) Basically 1. Everything that should be in place before starting and 2. The baby steps and what they entail.

He's not a reader and I'm finding it difficult to find time to type it all out (and sometimes if I tell him about it in conversation, he feels really pressured so a summary would work better)...if someone has done this I'd love the help!

I am so excited to start on the snowball I can taste it! It'll take us about 3.5 years to work through Step 2 (that's the getting out of debt except for the house right?) and that's with me picking up a part time job babysitting but it'll be SO WORTH IT to be debt-free!

[Eman'smom]

1. Get a 1,000 dollars in an emergency fund
2. debt reduction, start with the smallest debt and hit it hard when it's done "snowball" that into the next and so on.
3. Get 3-6 months of emergency expenses saved up.
4. 15% to retirement
5. kids college
6. Mortgage payoff.

It's been a while since I've read it but I think that is it. While doing this you have a strict budget and live below your means, he also suggests a big yardsale/selling stuff to get it all rolling.

[sabrinat]

Good luck. I read that book and loved the idea of doing it. dh was not on board, he viewed it as deprivation and so we nixed following his plan.