Yes—The Total Money Makeover really works if you follow the 7 Baby Steps without cutting corners. It’s a clear plan to ditch debt, save money, and finally feel in control.
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What Is The Total Money Makeover—And Why It Actually Works
The Total Money Makeover isn’t just a book. It’s a no-nonsense plan that’s helped millions of people fix their money mess. Written by Dave Ramsey, the book lays out 7 Baby Steps—and yes, they’re simple enough for anyone to try.
When I first picked it up, I had credit card debt, no emergency fund, and no real plan. I figured I needed something drastic. Ramsey’s tone was a bit in-your-face, but I needed that. I followed the steps, and I’ve been debt-free for five years now.
Let’s be honest. Most of us weren’t taught how to manage money. We learn from ads, friends who are also broke, or we wing it. And then we wonder why we’re stressed all the time.
That’s where this book shines. It’s blunt, straightforward, and kind of old-school—but in the best way. No fluff, no confusing formulas. It tells you what to do in order, starting with saving \$1,000 fast and ending with building real wealth.
If you’ve ever wondered “Does this even work?”—I get it. But here’s the thing: If you follow it exactly, it really does.
Feel free to check out my other blog, ReadingAndThinking.com, where I share more book lists, personal takes, and honest reviews—it’s kind of where all this started for me.
The 7 Baby Steps: Simple, But Not Always Easy
So what are the 7 Baby Steps? Think of them as a checklist. You knock one out before moving to the next. And that’s the key—no skipping around.
Here they are:
| Baby Step | What You Do |
|---|---|
| 1 | Save \$1,000 for a starter emergency fund |
| 2 | Pay off all debt (except the house) using the debt snowball |
| 3 | Save 3–6 months of expenses in a full emergency fund |
| 4 | Invest 15% of your household income into retirement |
| 5 | Save for your children’s college fund |
| 6 | Pay off your home early |
| 7 | Build wealth and give generously |
I used to think I could multitask steps—big mistake. Baby Step 2, for example, requires total focus. I sold stuff, worked extra hours, and threw every spare dollar at my smallest debt.
The debt snowball works by attacking the smallest balance first. It’s more about momentum than math. And it works. When I wiped out that first credit card, I felt powerful—like, “OK, maybe I can actually do this.”
Each step gets a bit tougher, but also more rewarding. By the time you’re investing 15% or paying off your mortgage early, you’re not just surviving—you’re winning.
And listen, it’s okay to stumble. I dipped into my emergency fund twice before getting it right. But that’s part of the process.
Does The Total Money Makeover Work for Everyone?
Here’s the big question: “Will this actually work for me?” And honestly—yes, if you commit to it. But it’s not a magic wand.
This book won’t work if you treat it like a light suggestion. You have to go all in. Like therapy for your money problems, you’ve got to be honest and ready to change. If you’re halfway in, you’ll get halfway results.
What helped me was doing the workbook alongside the book. It kept me accountable. I tracked every dollar, cried a bit over what I saw, and then started making progress.
Some people think the 50/30/20 rule or budgeting apps are enough. But those are like putting a bandage on a broken arm. The Total Money Makeover is more like resetting the bone—painful but necessary.
Don’t get caught up in the myths. Like thinking debt is normal or that you need a credit score to survive. Ramsey calls those out, and yeah, it stings a little. But it’s stuff we need to hear.
Not sure how to begin? Start with Baby Step 1 today. Literally today. Save \$1,000 before the weekend if you can. That one move could change your entire financial situation.
What's New in the Latest Edition?
The book was first published in 2003, but it’s been updated in 2007 and 2013, with fresh tips and stories from real people. As of August 2017, it had already sold millions of copies—and it's still one of the best books for beginners in personal finance.
What’s different in the latest edition? Mainly updated references, more success stories, and links to Ramsey’s tools like Zander Insurance and Churchill Mortgage. There's also talk about Christian Healthcare Ministries and other budget-friendly providers.
It also includes more detail on budgeting tips, updated worksheets, and better guidance for steps like saving for retirement or tackling mortgage payments.
Even if you read the old version, this one’s worth checking out. The advice hasn’t changed, but the examples feel more current. Plus, it covers common questions like: “Should I have 3 or 6 months of expenses saved?” (Short answer: it depends on your job situation.)
There’s also a stronger focus on mindset and behavior. Ramsey doesn’t just tell you what to do—he explains why discipline and habits matter more than fancy finance degrees.
Common Criticisms—And Why They Don’t Really Matter
Some people say Dave Ramsey’s too harsh. Others think the plan is “too extreme” or too old-school. But here’s what I found: It works. That’s what matters.
I used to get annoyed when he talked about avoiding credit cards forever. I thought, “Seriously? How do I rent a car without one?” Turns out, you can. Debit cards work too. It’s just less convenient.
People also complain that the baby steps ignore investing early or that they don’t account for mental health struggles. That’s fair—but the book never claims to solve everything. It’s a money plan, not a therapy session.
That said, mental health and money are super connected. Ramsey doesn’t ignore that entirely. But I’d still say, if you're struggling with anxiety or depression, combine this plan with help from a therapist.
What I liked most was how clear and simple the advice is. No stock tips. No jargon. Just “do this, then do that.”
Bottom line? This plan may not be perfect, but it's better than staying stuck. You don’t need to agree with everything to get results.
How Much Should You Save? (And Other Big Questions)
A lot of people ask, “How much should I actually save?” Ramsey says to save 3 to 6 months of expenses in Baby Step 3. That means bills, food, gas—everything you’d need if income suddenly stopped.
At first, that number looked impossible to me. But once I knocked out my debts, it was doable. I built mine up over six months. Just slow and steady.
Another big one: “Should I still invest during debt payoff?” Nope. Not until Baby Step 4. That way, you stay focused. I stopped contributing to my 401(k) for a while—it felt weird but paid off later.
People also ask about the difference between a fixed-rate mortgage and an adjustable-rate mortgage. Ramsey pushes for a 15-year fixed-rate, no exceptions. Why? It saves you thousands in interest and keeps your home payoff timeline shorter.
And if you’re wondering, “How much is The Total Money Makeover actually worth?”—it’s around \$20. But if you apply the steps? It can save you hundreds of thousands over your lifetime.
Crazy how one small book can do that, huh?
Final Thoughts—and What to Do Next
So, should you try The Total Money Makeover? Yes. But only if you’re done making excuses. It’s not fancy or trendy—it just works.
When I was flat broke, I needed something that felt possible. Not perfect. Just possible. That’s what this book gave me. A way out.
Start with Baby Step 1 today. Sell some stuff, cut back, and save \$1,000 fast. Download the worksheets, use the budget forms, and track every penny.
Once you get rolling, keep going. Don’t stop after one step. And don’t jump ahead either. Follow the steps in order, even when it’s boring or slow.
If you want something quick and motivational, try the shortform version or even watch his radio talk show clips. But the full book? Still the best way to absorb everything.
And hey—if you mess up, welcome to the club. Just pick up and keep moving. That’s how real people win with money.
