Free Essays,College Free Essays,Free College Essays at Anti Essays

Dave Ramsey’s Total Money Makeover and Debt Reduction:

An Employer’s Perspective

Employers have long been interested in their employees’ physical health largely because good health has been shown to increase employers’ financial benefits (Gilbert 1998). Increasingly, employers are also concerned with their employees’ mental health (Morton & Aleman, 2005).
Recognizing that consumer debt has reached unprecedented levels (Lazarus, 2006) which likely affect employee mental health and productivity, I propose a state-sponsored debt reduction plan be implemented by the Missouri Department of Conservation’s (MDC) Central Office (CO) in Jefferson City, Missouri (my employer).
The debt-reduction plan will incorporate Dave Ramsey’s Total Money Makeover and concurrent class discussions to meet twice weekly for four weeks during employees’ lunch hour. Employees will be asked to read the book on their own time and bring a brown-bag lunch to the discussions. The costs should be minimal: book costs ($10 per copy) and facilitator hours (eight hours per session) will be funded by the “Academy for Leadership Excellence” which is a continuing education program (CEP) for MDC employees already in place with an allocated budget.
Debt reduction is the key dependent variable because it is the focus of this particular CEP and is clear, numerical, objective, and easily measured.
The operational definition of debt reduction is a statistically significant (p< .05) group decrease in debt four months after the last day of class discussion utilizing Dave Ramsey’s “Monthly Cash-Flow Plan” in the back of The Total Money Makeover (unnumbered pages). The “Monthly Cash-Flow Plan” is a spreadsheet for listing creditors and contains cells for entering amounts owed.
Approximately 300 employees are housed in MDC’s CO. The course announcement details will be posted on the employee intranet page, along with an announcement...