I’ve read Dave Ramsey. Many of us have. His book Total Money Makeover provided a turning point for the way I think about money.

He has outlined a financial paradigm that I’ve bought into:

		$1,000 to start an Emergency Fund
		Pay off all debt using the Debt Snowball
		3 to 6 months of expenses in savings
		Invest 15% of household income into Roth IRAs and pre-tax retirement
		College funding for children
		Pay off home early
		Build wealth and give! Invest in mutual funds and real estate

Now I’m reading a book by Donald Trump and Robert Kiyosaki, Why We Want You To Be Rich.

It’s interesting to see how these experts differ, particularly with regards to debt and investing. While I’m not going to elaborate on their differences in this post, I did talk to a friend of mine the other day who happens to be a Financial Planner. I asked him about debt. He said that there are two kinds of debt:

1. Good debt = low interest rates and tax deductible
2. Bad debt = high interest rates and non-deductible

In other words, not all debt is bad debt. This is where Trump and Kiyosaki would land.

The question you and I have to ask ourselves is, “Is my debt bad?”

What resources have you found helpful as you develop your financial acumen?