This book taught us a practical method to be frugal that I learned from Ben Franklin. Hope it could help other people. TK
The Total Money Makeover teaches individuals how to get out of debt as well as how to budget. The book teaches the seven baby steps to follow in order to achieve financial stability, planning ahead for upcoming financial events, like retirement, and shares stories of individuals and couples that have done so successfully.
The seven baby steps are:
1.Save a $1,000 beginner emergency fund
2.Get out of debt using the debt snowball
3.Building a fully funded emergency fund
4.Invest 15% of household income for retirement
5.Save for children’s college
6.Pay off your home early
7.Build wealth and be generous
