Debt-Proof Living: How to Get Out of Debt & Stay That Way

Who would pay the bills, etc? I found that to be an unreasonable request Here's the thing.

I found that to be an unreasonable request for someone who is trying to get out of debt. Mar 06, Jane Potter rated it liked it. A female Dave Ramsey? A lot of American not applicable in this country stuff towards the back that can be skimmed or skipped.

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Like the contingency and freedom accounts. Dave Ramsey call it the 'debt free snow ball' and the 'emergency fund'. Dec 17, Amanda Himes rated it liked it. The best tip was on setting up a Freedom Account, linked to a regular checking account, so that a person can set aside money each month for irregular bills car repairs, property taxes, etc. Feb 13, Meredith rated it really liked it.

As this book has been so helpful over the years for me. This time around I just went over the highlighted points and used the chapters I wanted to review and remind myself of tools I wanted to implement again. Always a good resource and one that I have bought and shared with family to help them. Very little original practical advice for the average Joe with limited funds and a lot of preaching. The blurb should warn people this is a religious book. Aug 28, Londi rated it did not like it Shelves: She needs Dave Ramsey in her life.

I was pretty excited to see that this was available through NetGalley — even though I own an older edition in print that I have yet to read. Mary lays down a more reasonable — but still tough love and realistic—approach to living within your means and actually managing your money, rather than it managing you. I am finally at a time in my life where I feel like I can work on paying off my debts, and decided before reading the book it was time to stop accruing any new debt, either.

I think this book will help me stick to my resolve even more, because as she reminds me, spending money with credit is just taking away from my future paychecks. Funny enough, I had just taken out a personal loan to pay off a couple of credit cards before I read this book. This is something that Mary is unsurprisingly One of the highlights of the book is her explanation of student loans. Most of these financial sites seem so predatory, so it was refreshing to see something so reasonably priced.

Either way, lots of great resources to complement the book.

How to Get Out of Debt & Stay That Way

Mary does a wonderful job really breaking down financial terms and giving us examples of them in practical applications. I think the most important thing a person needs to learn about debt proof living is knowing how interest rates affect your overall balances and Mary did a wonderful job explaining this concept. We live in a world where our 18 year old mini adults that have just left the nest and going off to live on their own for college for the first time are practically handed a credit card Mary does a wonderful job really breaking down financial terms and giving us examples of them in practical applications.

We live in a world where our 18 year old mini adults that have just left the nest and going off to live on their own for college for the first time are practically handed a credit card that they can charge thousands of dollars on. It is scary to think about the kind of financial troubles they can find themselves in right when they are starting life if they do not understand the principles on how credit cards work and how these companies make money. I personally believe that if you have to have a credit card to buy it, you don't need it. Save your money so you have it for emergencies.

You should always have at least 6 months bills put up into a savings account so when emergencies happen flat tire, car wont start, new washer, etc you have funds available to you without maxing out credit cards and stretching your budget further. Mary's concept is similar to many others giving out financial advise and that is because what she is saying really works! Spend less than you make, have a plan, make a budget, tithing and having accountability. I know not everyone agrees with the tithing aspect, but for those that follow Christ Jesus it is a biblical aspect.

Giving from what you have, not what you have left over! The only negative thing I will say about this book is I feel at times she was throwing Dave Ramsey under the bus. I personally love his envelope system,especially for teaching my kids about being financially responsible. Its very visual and real showing how quickly money can go,especially in their spending envelope and the importance of tracking every penny you spend, which Mary also feels is important.

I will say this though, working at a financial institute I understand the importance of having life insurance in place.

Debt-Proof Living: How to Get Out of Debt and Stay That Way

Although not everyone agrees with the value of whole life, I have seen and believe it is a very valuable tool for those that can afford it. It is not designed for those who live paycheck to paycheck, but for those who have extra money left over that they want to put to work for them. These policies not only have an excellent death benefit that grows, but also cash that grows that can help offset the cost of college, weddings, first home purchase etc. Overall I think this is a good resource for those that are starting out and need some practical applications to help them get out of debt and stay that way.

I received a copy of this book for free in exchange for an honest review from Baker Publishing via Revell Blog Tour. Aug 06, Victor Gentile rated it it was amazing. From the back cover: In her classic book Debt-Proof Living, Mary reveals the secrets to getting out of debt and staying out of debt for the rest of your life. Quite a few of us rent our homes from the bank and call the monthly payment a mortgage. College students graduate with ten years of paying back student loans. The credit card companies are constantly dreaming up new ways of enticing us to get and use their cards.

It does seem that massive debt is a way of life and forces us to live paycheck to paycheck. Well according to Mary Hunt it only seems that way. There is a way to get out of debt and then stay debt free forever. In eighteen chapters Ms. Hunt looks at income, spending and debt and puts each element in its proper place. Then there is the additional element of tithing our ten percent to The Lord. That is a non-negotiable. Hunt outlines the plans that we need to implement such as pay off debt, save an emergency fund as well as pay cash and not charge. You might want to hold it in a special place on your shelf you might be referring to it again and again.

This is also a great book to give as gifts to family and friends.

Debt-Proof Living | Baker Publishing Group

They will think of you every time they put it to use. I recommend it highly. Disclosure of Material Connection: I received this book free from Revell. I was not required to write a positive review. The opinions I have expressed are my own. Overtime, most of us acquire debt. For most of us, it is student loans, credit card debt, and mortgages. Then there are those like my husband and I that did the stupid not pay the bill debt that we are now trying to pay off. We live paycheck to paycheck. We want to get out of debt.

Mary in chapter 13, explains th Overtime, most of us acquire debt. I almost never do. I am constantly checking the bank ap on my phone and doing the calculations to find out if I can buy that cup of coffee or not. Mary tells us in Debt-Proof Living that everyone should have one plastic card that they can manage well. Mary explains how to do that in Chapter My favorite chapter and something I myself am working on is tracking every stinking penny that comes in, and then, out. I am learning, slowly, and it is like a duh, moment. But every itty-bitty penny adds up.

I love how Mary using a dripping faucet for an analogy. We have money leaking out. A dollar here, 50 cents there. I know for us, it is the quick trip for a soda. Or, a candy bar. Or shoot, even the dollar burgers at Mcdonalds. In Chapter 5 she explains how to track your money. Using a card or notebook, writing down each time we spend even a penny. Now, unfortunately, I am not so sure my husband will do this. He just spends it like we have it. I truly have liked this book. A lot of it really a no-brainer.

I would have had no idea where to start if I had not read this book. Peace of mind is a great gift! It was our salvation and now it is our daily living reference. We have now paid off each and every credit-card account. What a weight was lifted from our shoulders. We used this book every step of the way. We are truly reformed credit-card users. I wish a lot of people would read this book--it's wonderful. We are now using it to learn about investing our money and saving for retirement.

We are living proof that it works. My 33 Years as an Option Trader. Your Money or Your Life. Predicting the Markets of Tomorrow. Retire on Real Estate. It's Just Real Estate. Managing Income in Retirement. Stop Living Paycheck to Paycheck: The Six Secrets to Building Wealth.

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