Book Comment: The Money Answer Book

The Money Answer Book (2010) by Dave Ramsey, is a collection of questions and answers about money and personal finance from a Christian perspective.  There is nothing of the heretical Prosperity Gospel here.  Ramsey does not teach that you can have a person “key to God’s bank.”

Several of the principles taught by Ramsey include:

1.     Be responsible to God and your family in your use of money.

2.     Discuss all money decisions with your spouse.

3.     Do not borrow money.

4.     Get rid of debt.

5.     Do not let your emotions be manipulated into buying  things.  You do not need more things. 

6.     Tithe.

An example Ramsey gives:

“The average monthly car payment is $378.  If you only have one car payment you’re shelling out almost $5000 in one year.  Investing $378 per month in a good growth stock market fund from age 25 to age 65 will be worth more than $4.4 million !”

In the book, Ramsey discusses:

1.     401K and IRA retirement saving accounts

2.     Saving and Investment

3.     Retirement

4.     Insurance

5.     Real Estate

6.     Student Loans

The book is interspersed with biblical quotations with illuminate the points being made.