Good Debt, Bad Debt: Knowing the Difference Can Save Your Financial Life

by Jon Hanson

Debt is just like cholesterol. Too much of the wrong kind can kill you. But too little of the right kind can be a problem too.

Just as not all kinds of fat are equally bad for your health, not all kinds of debt are equally bad for your wealth.

Jon Hanson learned about debt the hard way, barely surviving his own “near-debt experience.” Now he can help you avoid the same fate. Good Debt, Bad Debt doesn’t offer quick-fix solutions. This isn’t optimistic taffy to soothe your ego. It’s about embracing the reality of where you are financially and working to improve your position. Hanson explains that “debt takes more than your money. It takes your freedom, time, peace of mind, and opportunities. Debt makes cowards of us all.”

Good Debt, Bad Debt concentrates on what you can do using your present income. It blends personal stories, research, history, and humor to build the argument for living life with a plan, instead of allowing yourself to be controlled by your emotions and impulse spending. With a new chapter on debt warfare, Jon Hanson will bring you out of the financial trenches and show you how to wage war against the most difficult personal economic pitfalls.

Genres: Finance, Economics, Nonfiction

304 pages, Paperback

First published December 29, 2004

Reviews

[Desiree Kern · Rating 4 out of 5]

First off, if you're going to buy the book, make sure it's the most recent copy. When I was given the book, I was also given the new chapters separately. Hanson does a good job of describing how to get out of debt in terms that everyone can understand (that is to say, John Woo Kung-fu style debt management).

[Joey D · Rating 4 out of 5]

a quick read, if you need a book it's worth it

[Jose Gonzalez · Rating 4 out of 5]

Solid as a general knowledge book 🌝

[Caleb Falbo · Rating 2 out of 5]

Very basic to an extreme. Unless you're at a childlike level of financial literacy, you likely will not learn anything from this book. Principles are sound though.

[Soha Nagy]

And i paid money for this 🙄 useless

[Carrie · Rating 2 out of 5]

This book encourages you to develop spending habits that compliment your income level and savings/retirement goals. It emphasizes budgeting, self-discipline, and delayed gratification. Although I strongly agree with the overall message of the book, I only gave it 2 stars because it is poorly written, repetitious, and the actual financial advice is not stellar.

[Sam · Rating 3 out of 5]

I wasn't sure that I was going to get through this book. The ideas are sound. Despite the title, he doesn't talk much about good debt. Most debt, by his definition, is bad, unless it pays for itself. However, his writing style is not much of a narrative. It consists of a lot of one-liners strung together. I think I started to skim the last few chapters, so it became less noticeable.

[Travis · Rating 3 out of 5]

Some good information, but also a good amount of things that sound very biased or too oversimplified to actually help.