For example, I racked up a lot of credit card debt in a span of 3 years - for no other reason than I could. 3 years later and I'm looking around trying to figure out what I have to show for it. No financial stability, that's for sure. So, as you can imagine, it was mind-blowing to learn that I can get out of it and that I too can "live like no one else" one day soon.
A big premise behind The TMM is that "cash is king". You only spend what you have in cash - beyond that and you are out of luck. If you don't have it in cash, then you cannot make that purchase. Initially, it was a culture shock to only use cash. I mean...it goes without saying that I don't touch my credit cards (they are locked safely and soundly away); but, I don't even use my debit card - cold hard cash only. The idea is that there is a greater appreciation of the value of your dollar when you spend cash and I can honestly attest to that sentiment. I double think just about every purchase I make when I use cash, because once it's gone...it's gone.
Since I've read this book last November, I've established my emergency fund (baby step 1) and I've paid off my car and three credit cards. I have 5 credit cards left and a student loan (baby step 2) - but I'm excited for the day that I can scream "1...2...3...I'M DEBT FREE!!!!"
For those that are struggling with any debt or are looking for ways to maximize your wealth, I strongly encourage you to grab this book TODAY! It's a simple read but the wealth of knowledge that you leave with will have you feeling like a millionaire in the making. For those that have read it, what were your thoughts? Have you been through The Total Money Makeover? Are you "weird" and how has your life changed from it? Leave a comment - I'm all ears!
Until we read again...
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