books on debt management
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| Wed, 01-18-2006 - 6:18am |
I was honestly thinking about buying me a book on debt management, geared towards the German debtor, of course and so I looked at Amazon. There is one particular one that I thought about getting, with a "training plan" on how to get rid of your debt. But then I looked at the price and I thought for 14.90 the only one that gets rid of his debt quick that way is the author. 14.90 buys me almost 3 days worth of food and what if I get the book and I don't like, or it doesn't help any? Then the money is wasted. Also I got to thinking, we are at a point in our debt-management, where we cannot do anything but watch it go down month after month. We already have a plan for next year, when we have my hubby's money (how much to put on the CC, how much to save, how much to put into the houshold budget, etc.) that I don't really need a book. There is also a lot of information on the internet and here on ivillage. So how useful is it really, to buy a book on debt-reduction and debt-management? What do you guys think?
I read something interesting today (I was reading the amazon.com "read inside the book" of "The millionaire's mind" and the guy said there that when you are in debt, your credtors or debtors control you and your money... and I thought hey, there is a bible-verse that says the very same thing
(okay, hope noone is offended by me using bible-verses, but I found this to be interesting)
Proverbs 22:7 The rich rule over the poor, and the borrower is servant to the lender. (NIV)
Proverbs 22: 26 Do not be a man who strikes hands in pledge or puts up security for debts;
27 if you lack the means to pay, your very bed will be snatched from under you. (NIV)
Paul says: Romans 13:8 Don't run up debts, except for the huge debt of love you owe each other. When you love others, you complete what the law has been after all along. (the Message)
Interesting, huh? Anyway, these are my thoughts on the subject... what do you all think about this? Are books on debt management good or? Is it situation dependent or is it just a good debt-reduction tool for the one who wrote the book?
Sushi

Hi Sushi -
A very, very good point.
All my best,
Danni
Hi Danni,
my dad always used to tell me that you can learn how to save by watching the millionaires. He's right, you know. We have these discount stores (Aldi, Lidl, Plus, Norma etc)and guess what kind of cars you find in front of it in the parking lot? Mercedes, BMW, Audi ... all the expensive ones. My dad, btw, was not a millionaire but pretty well off. He usually didn't go into debt, but bought things in cash. I suppose the older gerneration is like that... over here it is "the after the war generation", when you had no food, no coal to heat, no clothing, most of all no money. You learned how to save and how to barter. I suppose with you guys it would be the depression era people. There are so many adages like "neither a lender nor a borrower be" or "a penny saved is a penny earned". I wished the actual debt-reduction was as easy as the theory is. But I suppose patience is the whole secret, just keep paying it off and wait. LOL "Time is money" after all.
The library system here is actually very good. I work at the university so I have access to the university library, which gives me a thought... maybe I can find some books here. If not we have a local library, but i'm not a member, because I don't have the chance to go there during their opening hours (after all, I have to work) and also by bus it takes too long to get there. I want a car... but that is on the agenda (we are going to pay our debts off and then save for a car and pay cold hard cash for it... I think if I tell the dealer "I have 10,000 in cash and I want the 13,000 car, take it or leave it", I'm sure he'll go for it... LOL).
Anyway... I'm off to check the university library, online of course, it is cold and rainy outside.
Doris
I'm glad
Becky
CL of 4th, 5th & 6th grade Scoliosis
Well, the University library had nothing usefull to offer. If I was a big corporation, then there would be lots of books, or even a government would find advice, but I'm neither.
Anyway, good thing I didn't get those books then. I was looking at them and whatever you guys can get in the States through Amazon.com I can get through Amazon.de in the English books section. The prizes are horrendous and so I would really hate to buy a book and then not be able to use it. I know all that stuff, and I know that many no name brands are actually name brands but for a much cheaper price etc. Plus with the vast amount of information one can find for free on the internet, I think buying a debt-reduction book is a waste.
Maybe I should take a trip to the library some day and see what they offer. But then... like I said, it takes major planning at least until I have a car.
Hey another question... what will you guys have for supper tonight. I know it is your morning, but I'm wondering if anyone has good ideas. I was thinking about Spaghetti with tomato sauce and a salad or something like that. I may stop by the store and get some meat, but I don't really have the money to. Although I have ham at home. If I cut it up, put it in the sauce, put all of that in a casserole dish, sprinkle it with cheese I have a spaghetti casserole. But then, I'm open for ideas.
Doris
Hello Doris,
If you have a bookstore nearby that includes a cafe or sitting area, you can "test out" any of the debt management books. By reading the first few chapters in the store, you'll be able to tell whether it's likely to be helpful for you. In the US, Barnes & Noble or Borders bookstores have a cafe where you can sit and read. I often will skim financial books in the cafe area. I might buy it, I might not, but I'm a fast reader, so I sometimes use the bookstore like a library.. I just don't leave the store with the books!
Sincerely,
Lindsey Schocke
My Little Secret
http://2-b.us/?i=33800/ivillage
Sincerely,
Lindsey Schocke
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