One of his catchphrases, “If you will live like no one else, later you can live like no one else” should have been taken to heart by the geniuses who got the entire nation into the housing crisis of 2008. However, if all of those people who had bought into those horrible mortgage packages had taken this advice, the crisis could have been averted there, as well.

The Total Money Makeover has to be the crux of Dave Ramsey’s work. All of his financial philosophy is summed up in this book, and its advice rings true no matter what the larger market looks like. The Total Money Makeover works for the unemployed and the employed. The rich and the poor. The old and the young. Those who forgot to save for retirement and those who have been dutifully saving for years. Those who had their savings and lives rocked by an unexpected emergency, and those who have been living the life of Riley.

The main philosophy of The Total Money Makeover comes down to the following points:

Personal responsibility

The social programs set up in the past might have been good in the past, but they do not work today. Depending on Social Security is a one way ticket to financial ruin. Medicare is not to be trusted, either. People should become self insured, and the Total Money Makeover gives the process to becoming dependent only on oneself.

Becoming self insured is not a privilege that only an elite few get to have. With proper saving and budgeting, everyone can live a fully financially independent life style.

Getting rid of bad advice that keeps you broke

Car payments are a fact of life? Not at all. Mortgage payments until you retire? No, sir. The Lotto is something to spend just a few dollars on each week, because who cares about those few dollars? No; the Lotto is a poor tax, and with all the taxes you already pay, you do not need to pay another one.

There are so many false claims and limiting beliefs put on the average person by billion dollar marketing campaigns that the majority of people end up thinking that there is no way out of debt and high interest payments to companies. The Total Money Makeover turns this thinking on its head.

Credit card companies and automobile lenders can not get rich without selling you certain things, like buying a car you can not afford, or that you “deserve” all the luxuries of life right now, before you have the income to support or justify indulging those cravings.

You can certainly have all the luxuries of life, but there is a way to do it without going completely broke and putting your hard earned money, assets, and family at risk. This is what the Total Money Makeover is all about.

There is a way out

People who have made financial mistakes in the past often feel overwhelmed, confused, disappointed in themselves. They are no longer providers in their family, but takers, and this is often the blow that cuts the most.

The Total Money Makeover is there to show you that no matter how badly you have messed up in the past, there is always a way out, and you do not have to subject yourself to the underbelly of the debt industry to get out.

Financial philosophies are no good unless they work for the least financially able among us. This is where the Total Money Makeover shines the brightest, and it is the reason that the book remains a best seller to this day, with updated versions flying off the shelves. The Total Money Makeover works for those in awful financial situations. It gives people hope and a plan – neither means anything without the other.

Financial health is not complete unless total health in complete

The final large idea in the Total Money Makeover is what the actual use of money is, the reason that we should go through all of the admittedly difficult steps to keep ourselves financially healthy. It is not to stop the calls of creditors, or the weight of debt, although these things are good.

The purpose of being financially healthy is to be totally healthy. To be able to live freely. To have fun, to invest, and to give.

Money is no good if it is not used correctly after it is obtained. And after you have gone through the difficult steps to make yourself financially healthy, you deserve to know how to use the money that you have. The Total Money Makeover takes you all the way to success, and beyond.

The Total Money Makeover: A Proven Plan for Financial Fitness Price: $24.99 You Pay: $11.85 (53% savings!)

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This post was contributed by Matt, a Dave Ramsey fan and writer for one of Australia’s leading websites offering an impartial comparison of credit cards from all the leading banks. If you want to follow Dave’s advice and get out of debt, check out the balance transfer deals currently available for English consumers.

The subtitle of The Essential Credit Repair Handbook is “A Quick and Handy Guide for Anyone Who Wants to Get and Stay Out of Debt.” This is a concise description of what author Deborah McNaughton attempts to provide in this book. Tools are included for rebuilding the credit report, avoiding debt, and budgeting money. A focus on the future is taken, with advice about how to plan for the future, even one that is characterized by foreclosure or bankruptcy. The step-by-step approach taken by this guide is intended to help anyone saddled with debt free him or herself of this burden and repair the credit score.

The Essential Credit Repair Handbook: A Quick and Handy Guide for Anyone Who Wants to Get and Stay Out of Debt Price: $14.99 You Pay: $8.91 (41% savings!)

Those who are coming out of short sale, foreclosure, bankruptcy, or other financial hardship that affects credit are the intended audience. Guidance is provided on how to dispute a late payment, chargeoff, or collection account. The latest credit card regulations and laws are included to help consumers understand this sector. Readers are given steps to rebuild their lives following a financial blow like a short sale, foreclosure, or bankruptcy. McNaughton explains how to establish new financial goals and re-establish credit in spite of having a poor credit report.

The author is a renknowned financial coach and credit expert. She has over 26 years of experience in the field and founded Professional Credit Counselors, Inc., a credit counseling organization that specializes in credit repair, financial education, budgeting, and debt-related issues. McNaughton previously authored several books on the topic of personal finance. She has appeared on Bloomberg, CNN, and other television stations across the country.

Opinion

Anyone who is interested in re-establishing or rebuilding his or her credit will find The Essential Credit Repair Handbook an invaluable guidebook. It is easy to use and takes a systematic approach to leaving debt behind for good and repairing the credit report. Whether the reader is faced with late payments, bankruptcy, or anything in between, he or she will find this guide helpful. Those who already have credit blemishes learn proven ways to re-establish their credit and create new financial goals to prevent the situation from reoccurring.

With over 26 years of experience under her belt, McNaughton is considered a credit expert. Even debt-resolution attorneys consider her book invaluable when it comes to credit. What most people in debt need is assistance regarding credit repair and financial budgeting. This book provides it in great detail but in a format that is both easy to read and implement. Credit card laws seem to be constantly changing but McNaughton breaks them down and conveys the details in a way that any reader can understand.

Some people think that once their credit is tarnished, there is no recovery. McNaughton knows this is untrue and she shows readers the best way to re-establish good credit that has gone bad. After reading this book, individuals will know how to dispute late payments, items in chargeoff status, and even collection accounts. They will also be able to rebuild their lives following a major financial event like a bankruptcy.

Summary

Generational Wealth – Business & Investing Guide to Building an Empire is intended as a comprehensive business resource guide. Author LaFoy Orlando Thomas III, Esquire, includes information regarding economics, stock investing, real estate, bonds, accounting for investors, entrepreneurship, mortgages, mergers, acquisitions, marketing, and human resources. The contents are applicable to readers interested in investing, becoming entrepreneurs, or taking over an executive position within a company. This basic business and investment guide is designed to help anyone create a professional or financial empire.

Generational Wealth: Business & Investing Guide to Building an Empire Price: $12.95 You Pay: $10.28 (21% savings!)

The book provides a detailed explanation of how an individual can become a real estate investor. Included are real-life examples, an explanation of various types of mortgages, and details regarding depreciation and 1031 exchange. Thomas also explains stocks, bonds, and other investments. Basics including stock classifications, stock options, and mutual funds are reviewed. An overview of the various types of business entities, components of a business plan, and how to establish and run a business successfully are covered in the final sections of this book.

Since the age of 14, the author has been studying finance and business. As an investor and entrepreneur himself, Thomas has experience in real estate, financial services, and management. He earned two undergraduate degrees in business with honors and a J.D. from the University of Arkansas School of Law. At the tender age of 20, he became a licensed financial advisor by passing his Series 7 exam with an impressive score of 91 percent. In addition to having an affinity for finance, Thomas enjoys politics, economics, and studying and practicing law.

Opinion

The American investor, entrepreneur, and attorney LaFoy Orlando Thomas III, Esquire, wrote Generational Wealth – Business & Investing Guide to Building an Empire 2011-2012 Edition to help others find as much business and investing success as he has. This is considered one of the most comprehensive business texts available. Whether you are an aspiring investor, executive, or entrepreneur you will find the information essential to success. Though a huge amount of information is packed into the 182 pages, it is very easy to read and understand.

No business or investment-related subject is left unmentioned. Economics, bond and stock investing, real estate including mortgages are all covered. Additional subjects include accounting for investors, entrepreneurship, acquisitions, mergers, human resources, and marketing. Thomas includes his philosophy regarding investing which is that real estate holdings should be a large component of the financial portfolio, complement by stock investment for growth and liquidity.

Using this book as a guide, even a novice should be successful at business or investing. Even if the reader does not feel that real estate investing is the way to go, getting an alternative point of view will prove enlightening. So much additional useful information is included in the pages that readers will have plenty of guidance in all areas related to investing and establishing and running a business.

Title: How to Be the Family CFO
Author: Kim Snider
Publisher: Greenleaf Book Group
Category: Personal Finance

Summary

In How to Be the Family CFO, Kim Snider provides four easy ways for anyone to get their financial house in order. This book is intended as a guide to financial success that is both easy to read and to follow. The author bases the content on processed developed and lessons learned as she dug herself out of financial disaster in her early thirties and found her way to financial success.

Ms. Snider serves as the founder and president of Snider Advisers, an investment advisory firm registered with the SEC. The focus is on teaching readers, and holding them accountable for, skills necessary to manage financial risk, accumulate savings, and confidently achieve their goals. Readers are encouraged to take charge of the family finances and treat these as one would the financial aspect of a business.

The three roles of the family CFO are to plan, manage household assets and liabilities, and manage behavior. Planning requires developing a personal finance statement on a monthly or quarterly basis. In addition, a budget should be developed but it will be more useful if it is loose because it can accommodate changes in our hectic lives.

As far as asset management goes, everyone should have a six-month emergency fund. Saving for retirement should take precedence over saving for college education because money for college can be borrowed, if necessary. Individuals should set financial goals and begin investing early. The author recommends creating passive income, focusing on long-term results, and knowing one’s risk tolerance.

It is also important to manage risk and the best way to manage our largest risk, our personal health, is to purchase insurance to protect against it. By doing this, the family is protected should a breadwinner become ill. Other risks that should be managed include identity theft and liability.

Opinion

Though this book does not reveal information that cannot be found in other personal finance books, it takes a different, and refreshing, perspective. Looking at one’s daily life as though it were a business is a unique approach to personal financing. The advice of covering risks, focusing on the areas that can be controlled, budgeting reasonably, and clearly tracking finances is a well-thought-out approach to managing personal finances. Anyone who has tried other methods and found them unsuccessful may realize that this tougher stance is required when it comes to the management of the family’s personal finances.

Particularly interesting is the advice to focus first on retirement savings and only become concerned with college savings once this is handled. It makes sense because money cannot be borrowed to retire as it can be to attend college. The author also has some unique advice regarding the aspect of control. She advises readers to figure out what they can control and ignore the other things. Rather than worrying about uncontrollable things like the stock market, readers should focus on protecting their money in ways that make them comfortable. After reading this book, readers will be inspired to consider ways to better manage the family finances.

Title: Why Are We So Clueless about the Stock Market?
Author: Mariusz Skonieczny
Publisher: Investment Publishing
Category: Personal Finance

Summary

This book provides readers with an overview of the fundamentals regarding investing in the stock market. Included is information about the difference between stocks and business, what factors determine whether a business is good, when to purchase and sell stocks, and how to value stocks. Also included are four case studies and an overview of the good and bad of investing in real estate versus the stock market.

The overall message of this book is that just because people experience success in their careers does not mean they will be successful when it comes to investing. Certain skills are required to be a good doctor and different skills are required to be a good investor. Successful investors do not need an advanced education in the field, nor do they necessarily need to be extremely intelligent. What they do need is money to invest and the ability to recognize a good company that is also undervalued.

This book educates investors on how to recognize these good companies and evaluate their worth. Doing so decreases the chances that poor investment decisions will be made. It also allows individuals to take advantage of the short-sighted view of Wall Street to build their wealth through stock market investments.

Mariusz Skonieczny is the founder and president of Classic Value Investors LLC and uses his firm’s focus on value investing as the underlying emphasis in this book. He provides familiar examples to explain key terms and explains how to research companies to determine their position in relation to the competition. Readers are shown how to calculate a company’s predicted earnings based on a few simple assumptions. This information is then used to determine whether the company stock is trading at a discount to this figure.

Opinion

This book is easy to read and provides information in a clear fashion. Mr. Skonieczny leads readers through examples that are simple to understand. Despite how complex the stock market and investing can be, the content of this book never gets complicated. Readers are reminded that they may already have enough knowledge from their daily experience to select good, undervalued companies in which to invest. They just need to translate that knowledge into practice rather than getting distracted by the latest hot stocks. Nearly every reader can apply the information and calculations being presented.

Key concepts covered include risk versus reward, when to buy, and when to sell. Technical analysis is discarded in favor of calculating the company’s objective value based on projected earnings relative to stock price. In general, the author takes more of a conservative and fundamentalist approach to the market than a gambling perspective. Even investors not of a like mind will find this an excellent guide regarding the basics. Taking calculated risks requires an understanding of the fundamentals. The content of this book is particularly relevant to our current economy because there are many undervalued companies trading stock.

UFX Bank is backed by its team of finance professionals, boasting of over 50 combined years of experience in the industry. Based in the UK, UFX Bank uses the eminently reliable ParagronEx browser-based trading platform, allowing users to trade from anywhere in the world they have access to an Internet connection. Traders benefit from UFX Bank’s rapidly updated charts and feeds, offering clients the real-time information they need to trade in Forex profitably.

Beginners can view Forex tutorials through the UFX Bank website, and active traders can enjoy the website’s full offering of daily outlook videos and market updates, strategies and tactical tips, and even trade recommendations. The UFX website has something for traders at every experience level. Real-time market alerts and signals, among other choice information, is sent by SMS to gold and platinum clients on a regular basis.

Just a slice of the benefits offered by UFX Bank brokerage services:

• No commissions or fees
• $100 minimum deposit
• Fixed market spreads
• Commodities trading
• Over forty currency pairs
• Binary options trading
• Remote one-on-one assistance
• Personal coaching through initial trades
• Useful tools that include daily market updates, trading tips, and market reports and signals
• Real-time signals and market alerts via text message (SMS)
• A trading platform that is browser-based
• Wide selection of payment options – fees, commissions, and fixed market spreads
• Sophisticated site security

The “spread” is the difference between the buying and selling price of a given exchange. Because UFX Bank profits on the spread, the brokerage is able to offer a commission-free, fee-free platform to their clients. Using a fixed spread allows clients to make quick trading decisions with predictable results – no complicated calculations are necessary to decide whether a trade will be profitable. If the spread on a currency pair is three pips, then three pips is what a client will pay on a trade of that pair.

Trading Options

UFX Bank chose its currency pairs carefully. At just over 40 pairs, clients can be assured that a choice pair can be found without wading through an unnecessary number of obscure currencies. The pairs UFX Bank has chosen have sufficient information to mitigate risk and facilitate trade.

Some traders may have more interest in commodities. The tremendous price swings in commodities like oil and gold in recent years have made commodities an attractive alternative for investors. UFX Bank offers its clients the opportunity to cash in on these fluctuations by using its platform to trade in the hottest commodities in addition to, or instead of, the Forex markets.

UFX Bank strives to differentiate itself from other brokerages by also offering binary options trading. High returns can be achieved by taking over-under positions within a specific time frame. Binary options offer an all-or-nothing type of return, hence the term “binary.”

Low Minimum Deposit

Traders that are just beginning to get their feet wet in the world of Forex, traders on a low budget, or traders simply looking to participate in the currency exchange markets without risking significant amounts of capital can all appreciate the minimum investment threshold at UFX Bank. While only $100 limits the potential profits of Forex trade, such a low investment allows a trader to experience risk in a way the demo platform (also offered by UFX) cannot.

Personal Coaching and Remote Assistance

One of the unique offerings of UFX Bank is the coaching and assistance UFX staffers can provide – right on the client’s desktop computer. Beginners are walked through the process of their first trades by a personal coach that will demonstrate the platform and its proper use. This dedicated support typifies the service that UFX Bank provides its clients.

SMS Signals and Alerts

It is worth reiterating that UFX Bank provides the most useful information and tools to its clients: in addition to the one-on-one assistance of experts discussed earlier, the website features market updates, outlooks, and recommendations on a daily basis; Forex analysis, with both technical and fundamental approaches; and charts, graphs, and similarly indispensable data. UFX Bank offers the same support information as any other broker, and UFX strives to make its analysis accessible to users of any experience level. Advanced traders can expect more in-depth and prompt information via SMS text, such as market signals and real-time market alerts. These alerts keep advanced traders informed about the market when they cannot be logged on to the trading platform.

Trading Platform

UFX Bank uses the ParagonEX trading platform – and with good reason. The web-based platform offers the flexibility of access anywhere a trader can connect to the Internet, and its reliability and advanced features are bar none. The downloadable client used by other brokerages limits the usefulness and flexibility of the trading platform, which is why UFX Bank relies instead on ParagonEX. UFX Bank can be as flexible as its clients are.

Security Features

Forex and commodities have enough risk without adding the risk of exposing personal information to outsiders through the Internet. UFX Bank relies on the 128-bit secure socket layer encryption system that is the industry standard, reinforced by multiple remote backups in heavily guarded facilities. Wire access is protected by a complex series of firewalls to ensure the safety of all account information.

Conclusions

The array of choices in brokerages can make the selection of a broker a serious burden on the aspiring trader. The breadth and depth of services offered by UFX Bank reduces that burden. UFX offers what is arguably the single most competitive service in the market. Most brokerages have higher minimums or fewer services; UFX, seemingly, simply has it all. The value is unparalleled. For the trader that has been comparing dozens of firms for the hands-down best service on the market, the choice is clear.

An American Hedge Fund, is an interesting autobiographical tale of Tim’s trading life, which is relatively short considering he’s only 26. He begins the book by chronicling how he began trading while in High School, using the library’s Internet connection to research his picks.

As a day trader recognizing momentum, hype, and stock chart patterns he moved in and out of positions on a very short-term basis during the Internet boom. In doing so, Tim turned $12,000 in Bar Mitzvah money into an audited, pre tax $1.65 million – before graduating from college.

As the Dot Com bubble bust, Tim adapted by learning how to short stocks, and he successfully made it through the financial aftermath of 9/11.

After four years (1999-2002) of doing this and turning himself into a millionaire, he decided to start his own hedge fund, the Cilantro Fund. He then became disenchanted with the hurdles that hedge funds face when trying to raise capital, and this served as his motivation for writing the book.

Tim and his book have no shortage of critics, but overall, I found the book to be a fascinating and inspiring journey into an often misunderstood industry. Tim is brutally honest in detailing not only his successes but also his many large mistakes and the psychology that led to them. In the early stages of the book I wanted to start day trading, and by the end, I was reminded why I don’t.

It’s not a how to book, but there is certainly wisdom to be gained from his story. If you’d like to decide for yourself, see below for a chance to win your own free copy:

Tim recently sent me the official release version of the book, which actually contains a snippet of my review in the front cover, so I am going to give away the original, signed, book that I received. For your chance to win, simply leave a comment on this post explaining why you’d like to read the book. One random entry will be selected on Monday, November 12.

Your odds of winning should be pretty good. Good Luck.

Update 11/12/07: Carl Hunter won the book.

My sponsored review, then, starts with a word to the wise: David Waring may just be the friend you’re looking for.

So let’s start with the trivial and slowly move into the thick of it. David Waring is not a web artist (and thankfully he doesn’t claim to be one). The site is very simple and fancy-free, which may leave some people with a feeling that it was put together by an amateur. Unfortunately, in this day and age of fast processors and high speed connections, people may automatically discount the content of this site for a lack of flying images or shaded gradients.

For the average web monkey, however, you will quickly find that InformedTrades.com also contains a considerable lack of flaying banner ads and irrelevant information.

David has compiled an enormous amount of information on Foreign Exchange Trading for the new and the veteran, including articles, videos, and a very active forum of users.

I was curious to quickly find out who David was and who or what made him believe that he could teach me anything, let alone be my friend, so I was happy to see someone had asked him relevant questions. David seems honest in his answers about why he is willing to share his knowledge and how he profits from it while genuinely building a network of traders that can help one another (him included) learn and share tips and ideas.
He is open about his background in the financial sector and even shows users how to use a tool to rip off his videos from his web site onto their personal machines.

Aside from the articles and videos, from learning about basic money management to chart patterns and logistics, the forum seems to have quickly developed into a powerful tool within the site. David himself replies to a lot of the posts and other users will pitch in their 2 cents in a moderated conversation. Unfortunately, most posts seemed a bit top-heavy for the beginner investor, with most questions hitting on some very advanced topics. However, a new user will feel comfortable posting newbie questions based on the communal feeling the site presents.

As a side note, the site may also benefit from a “Star Here” for the first-time visitors.

InformedTrades.com presents all this information in a professional way, with no promises of get-rich-quick tricks and without asking you to “invest” in this or that, or buy this book or that shirt (although they do sell a shirt). David Waring has built a community of investors who are willing to help each other grow in their knowledge of trading with a feeling of friendship and mutual respect.

My mother would be proud.

RideSearch is a commuter connection site that provides information on carpooling in your area with the goal to provide a safe secure carpool experience with the added benefit of saving you gas while also reducing harmful car emissions and automobile wear and tear.

The site is well organized and simply designed. Links are labeled intuitively and the navigation is very accessible.

The Profile/Account areas are redundant and should be combined into one area. The Account page only allows you to update your email address and the Profile allows you to update your home and destination address, hours of work, etc. They also should be available within one click from any page but are currently under the Resources link on the top navigation bar, which I found a bit unintuitive.

The registration process is easy, although the data validation of required fields is easy to circumvent and the flow of input is also somewhat subpar. Also, most sites that validate addresses provide a list of possible options when unable to find an exact match, but I did not find that here.

They provide a savings calculator that allows you to estimate the amount of savings you can expect by carpooling, tips for setting up a successful carpool, and resources for “spreading the word”.

RideSearch.com was launched on January 1, 2008, and could be an extremely useful site once the word gets out and more people sign up, but for now, I did a quick search for carpoolers in my area and it did not find any results (I expanded my search to the maximum radius of 25 miles from the start address and from the destination address).

I wasn’t quite sure what to make of the Products link (which links to cafepress.com). As nice as a site like this could be, I can’t think of anybody who would wear any clothing with RideSearch.com as a logo.

*This review was sponsored by Rideshare.com.

Carl, be sure to check your email for details, and enjoy the book.