Book Review: Financial Peace Revisited

This book review is part of a series that covers the topic of Debt and Debt Consolidation. The Official SelfGrowth.com Guide to Debt and Debt Consolidation is Leo J. Quinn. Dealing with Debt and learning about Debt Consolidation can help people overcome the challenges associated with debt and how to go from debt and bankruptcy to wealth and prosperity.nn Financial Peace Revisited is a valuable resource for people interested in Debt and Debt Consolidation, and it is available through Amazon.com and Barnes & Noble.nnFrom Publishers WeeklynAn updated, expanded version of Ramsey's first book about overcoming debt and managing personal finances, this edition boasts new chapters on the relationship between money matters and family matters. (Originally self-published in 1992, Financial Peace had its sales bolstered by Ramsey's eponymous personal finance radio talk show; the 1997 Viking edition became a business bestseller.) When it comes to solving money problems, Ramsey knows whence he speaks: he had made and lost a real estate fortune by age 30. His straightforward guide to fiscal tranquility covers the basics of career (work hard in a job you're good at), savings (sock away 10% of your take-home pay), investments (invest long-term with pretax dollars) and spending (live below your income). The new chapters offer financial advice for singles, spouses and parents-agreeing on money matters, Ramsey says, leads to "fabulous unity" in a marriage. Commentary from Ramsey's wife, Sharon, concludes each chapter; while often a bit drippy ("Communicating with those closest to you is important. A lot of times this will be your spouse or your best friend"), it puts another reassuring layer on an already warm (sometimes Christian-themed) and helpful text. nCopyright © 2002 Reed Business Information, Inc.nnLibrary JournalnAs a young and gifted businessman during the real estate decade of the Eighties, Ramsey, who has a Christian radio talk show, made millions; however, when the market eventually collapsed, the author found himself driving a Jaguar with no money for gas. Using the anger he felt from this experience as a catalyst to write this book, Ramsey bypasses advice on stock and mutual fund selection typically found in similar books and takes aim at the behavioral aspects of personal money management. Admonishing the reader to avoid the seductiveness of credit cards, among other things, Ramsey illustrates his strategy for dumping debt, which he considers paramount in realizing financial peace. While here and there he incorporates Christian practice, e.g., in the first chapter he uses prayer for gathering his thoughts and later speaks of tithing and charitable contributions, his work is straightforward and written without financial jargon. This is a firm but necessary slap in the face for individuals and married couples just getting out on their own. Highly recommended for public libraries.-Dennis Krieb, St. Charles Cty. Coll., St. Peters, Mo.