How to Get Out of Debt

I have not been able to find Mr. Mundis' book. I have read a few posts from the archives that suggested the book was helpful. I am a big fan of Suze Orman. I have read 9 steps to financial freedom and The Courage to Be Rich. I am waiting for The Laws of Money, the Lessons of Life. I saw the PBS partial broadcast about the book. I think Suze's approach is very basic, common sense stuff that we weren't taught by our parents or "forget" over the years.

Susan

I've read the Mundis book a couple of times. The first time, I thought I was ready to get out of unsecured debt after recently purchasing a home 2 years ago. It just did not really register with me. I've also read several of Suze Orman's books, they also did not quite really "stick" with me. I purchased her latest book shortly after it came out, and really did not like it all. I ended up selling it on Amazon within a few days. Now to what did work. The book that has had the biggest impact on me is Debt-Proof Living by Mary Hunt. She has a decidedly Christian bent, so it may not appeal to everyone. However, her practical advice has helped me pay off approx $2400 in debt so far this year. I have a very long way to go, but this is the most progress I have ever made. I have not used my revolving credit at all this year. Again, a new thing for me. I've also begun saving money and funding my freedom account according to her plan. I haven't needed to scramble to pay my quarterly homeowner's association fees and should have no problem paying car insurance next month.

I like the fact that she doesn't say that you shouldn't save money until you pay of debt like some others suggest. It may take a little longer this way, but I am really proud of both my developing savings habit and my progress on repaying debt. I sometimes get discouraged when I realize that it will take several more years to clear everything up, but try not to let it get to me too much. Impatience is what got me into this position in the first place. I also like the fact that she encourages you to give to church or your favorite charity as a regular part of your monthly spending. This also probably increases the timeline for paying but is my small way of showing how grateful I am for what I have. I also liked Carol Keefe's book - How to get what you want with the money you have. It helped put into perspective that I don't have to stop enjoying life while I pay off debt. I can do both (within reason).

Momtochris

Hi mom! Have you looked at Larry Burkett? If you enjoy reading books that stress Christian values, you'll love Larry's outlook on finances. :o)

Ms Joe

I read "Financial Peace" by Dave Ramsey. It was ok, but it didn't teach me anything that I didn't already know. It put a lot of emphasis on religion and tithing and that wasn't really my cup of tea. I bought the book at a particularly low point in my financial life and frankly, I could barely keep my head above water without giving money I don't have to the church. I am not against charity if I didn't feel I needed it myself. I like to donate blood on a regular basis. I can afford that!

What DID help me immensly was his e-mail support group. Through them, I learned some simple steps for dealing and working with creditors that officially started my road to recovery. But the stuff that helped me there wasn't in the book. Go figure.

It's support groups like this one that really help, because it's here that I learn tips that work in the real world. Practical tips. I don't think some of the tips in the books are really practical.

Sharon