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Pay It Down!: Debt-Free on $10 a Day
The national bestseller that can help you create the life of your dreams for only $10 aday
Is it really possible to live without credit card debt, bill collectors, whopping interest payments, or anxiety about retirement? Yes it is, and Jean Chatzky, one of America s most beloved money experts, can teach you how to make that dream a reality.
Is it really possible to live without credit card debt, bill collectors, whopping interest payments, or anxiety about retirement? Yes it is, and Jean Chatzky, one of America s most beloved money experts, can teach you how to make that dream a reality.
Millions of Americans watch Chatzky on NBC s Today show, and millions more read her articles in magazines like Money, Time, and USA Weekend. Unlike some financial gurus, she offers straight talk about the problems real people face in the real world. Chatzky proves that anyone, no matter how debt-ridden or how low on income, can find an extra $10 a day to knock out their debt and build a bright, secure future. It might be as simple as spending less on your morning coffee or as drastic as trading in your SUV for a more practical car. You ll also learn how to track your spending, consolidate your debts, force credit card companies to give you their best rates, and plan ahead for the inevitable surprise expenses that crop up from time to time.
"Chatzky has a crisp and fast-paced style."
USA Today
"What I like about this book is its brevity in both size and solution. . . .This book is all about simplicity."
Michelle Singletary, The Washington Post
"Pay It Down! is a great little book that shows you step by step how to save, how to make more money and how to stay ahead of the curve by bringing down your debt. . . . Chatzky s charm is her non-judgmental, optimistic tone."
Susan Morris, Pittsburgh Tribune-Review
"Pay It Down! is much more than a book about reducing credit card debt. It s a how-to book with solid strategies on money management. Invest in a copy it will be money well spent."
Chris Stuckenschneider, The Missourian
"Jean Chatzky helps you change the way you think about your money and shows that getting out of debt is not as hard as it seems."
David Bach, author of The Automatic Millionaire
"Managing debt properly is a crucial key to getting rich, and Jean Chatzky is a great source for help."
Donald Trump
Author Biography
JEAN CHATZKY is the financial editor for NBC s Today show, has a monthly column in Money magazine, and is a featured columnist for USA Weekend and Time magazine. She is the author of The Ten Commandments of Financial Happiness, Talking Money, and the Rich and Famous Money Book.
Kindle Edition
First published January 1, 2004
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Displaying 1 - 30 of 65 reviews
June 15, 2017
Filled with fairly decent information. Can't wait to start enacting some of these plans once I begin my new job next week!
January 19, 2010
The first few chapters of this are really good. After that it is, at best, outdated; at worst, irresponsible. Although, the first few chapters are worth the price of the book. They provide a good, rational, well-thought look at the day-to-day reality of personal finance. There is nothing there that most people can't figure out on their own, but most of us don't.
As for the rest of the book, first of all, it was evidently written in 2004. My edition was copyrighted in 2007. The world has changed, especially with respect to personal credit, credit card interest rates and credit card companies' in-house policies regarding things like interest rate reductions.
Parts of the book are irresponsible. The author makes the point when ranking the consequences of what debt to pay and speaking about collectors for credit cards:
"Because other than damaging your credit rating and your credit score (not the best scenario in the world, but also not the worst), there's very little these lenders can do to you. There's no collateral behind the money you owe them. There's nothing they can even try to take from you. . . . For now, it's their loss."
Well, in my State, they can sue, take a judgment against you and start garnishing your wages taking 25% of your GROSS income until paid including attorneys fees, interest and court costs. Now, I agree with the point that she is making -- food, utilities and taxes should come first; but at that point she should advise people to make sure that they understand what collection tools are available to collection agencies in their State.
Other parts of the book are simply naive, like her lack of understanding of mortgage securitization -- but then, very few people had any real understanding of that in 2004 when this book was first written. Parts of the book are incomplete. She discusses the advantages and disadvantages of debit cards v. credit cards without mentioning the different sets of legal rights, responsibilities and protections behind them.
Read the first chapters of this book, but once you start reading anything with legal consequences, do your own research.
As for the rest of the book, first of all, it was evidently written in 2004. My edition was copyrighted in 2007. The world has changed, especially with respect to personal credit, credit card interest rates and credit card companies' in-house policies regarding things like interest rate reductions.
Parts of the book are irresponsible. The author makes the point when ranking the consequences of what debt to pay and speaking about collectors for credit cards:
"Because other than damaging your credit rating and your credit score (not the best scenario in the world, but also not the worst), there's very little these lenders can do to you. There's no collateral behind the money you owe them. There's nothing they can even try to take from you. . . . For now, it's their loss."
Well, in my State, they can sue, take a judgment against you and start garnishing your wages taking 25% of your GROSS income until paid including attorneys fees, interest and court costs. Now, I agree with the point that she is making -- food, utilities and taxes should come first; but at that point she should advise people to make sure that they understand what collection tools are available to collection agencies in their State.
Other parts of the book are simply naive, like her lack of understanding of mortgage securitization -- but then, very few people had any real understanding of that in 2004 when this book was first written. Parts of the book are incomplete. She discusses the advantages and disadvantages of debit cards v. credit cards without mentioning the different sets of legal rights, responsibilities and protections behind them.
Read the first chapters of this book, but once you start reading anything with legal consequences, do your own research.
January 14, 2021
If you know anything about Dave Ramsey’s get-out-of-debt program, you’ll notice right away that Jean Chatzky has a completely different approach. While Dave’s work is to completely eradicate debt in one’s life, Chatzky’s approach is more suited to one who is okay with being in small amounts of debt as long as he or she can pay it down over time and still have money in savings and investments.
I found this book helpful to learn more about how credit works, FICO scores, and what life would look if I were okay with small amounts of debt. This book, though dated (she mentions dial-up internet as a reason to keep your landline!), could be a good resource for tips on finding spare money in the monthly budget to throw at debts.
Overall, I prefer Dave’s approach to debt elimination, but I always appreciate second opinions and a chance to learn about how the world works.
I found this book helpful to learn more about how credit works, FICO scores, and what life would look if I were okay with small amounts of debt. This book, though dated (she mentions dial-up internet as a reason to keep your landline!), could be a good resource for tips on finding spare money in the monthly budget to throw at debts.
Overall, I prefer Dave’s approach to debt elimination, but I always appreciate second opinions and a chance to learn about how the world works.
March 31, 2020
There’s a lot that’s suuuuper privileged, a bunch that’s out of date, but despite the “see how much you’re spending on lattes?” Kind of talk, she does go into detail of a lot of places you can look to be creative to cut expenses.
September 15, 2015
Short sweet book detailing how to find an extra $10 a day, then where to invest it. A bit outdated, but still many good points for paying off your debts. 3 stars
January 17, 2020
On the whole, it’s. Book with some useful tips. There wasn’t a TON in here that I didn’t already know, but I appreciate reminders! That said, I read the 2009 version of this (maybe there’s a more recent update?), and it’s SO out of date. She suggested giving up cell phones multiple times. I feel like even in 2009, landlines were already phasing out. A cellphone is a necessity these days. Also, some of the monthly payments she mentioned were way less when this was published than they are now.
Probably the most useful parts for me were sections going through how to negotiate with all the different folks you have to send money to. Those are useful tips.
Probably the most useful parts for me were sections going through how to negotiate with all the different folks you have to send money to. Those are useful tips.
February 14, 2020
A good read to keep you focused on your financial goals. I followed a bit of the advice, calling my credit card company to ask for a lower rate...and it worked! Just by asking I got a lower rate! That's crazy, and I had no idea I could just call and ask; I assumed I was getting the best rate I could automatically. So while it was a good book and explained my benefits better than my company does I'm not sure I'll be picking it up again. Wouldn't avoid other books by Chatzky, though.
March 8, 2024
The information was good; however, it was published in 2004 (at least the edition I have), and some of the information is dated. If there's a newer edition, it would be worth reading to glean information to better improve your financial situation.
January 27, 2019
For me it's a useful book. I learned a lot with it a really help me to reorganize my finances.
March 31, 2020
This is a good guide that will help people get out of debt and stay out of debt by providing a wide range of possibilities to reduce spending and ultimately, debt.
February 19, 2025
A quick read! (If you do the worksheets in the book to account for your spending and savings, it will take longer to get through). Practical advice on paying down debt.
August 26, 2019
I'd recommend other financial-help books than this one.
October 7, 2016
Very simple however very useful information to reduce debt. More books should be read for more tips.
June 28, 2008
This is a nice, brief, quaint book that tells you how to get your debt down. Nothing new here. Consolidate. Discipline. Take a close look at debt. Start with the small. Consolidate payments. Etc. There is one chapter that speaks of "making more." But few of these gurus will tell you like it is. Few will get Amerians off their ass and doing what they really need to do. Nothing new here. My suggestion? Begin saving by not spending the money on this book. Oh, you also might want to shift your attitude from one of scarcity to wealth. Much better to build wealth than to run scared from debt in a scarcity world. Much better off reading Robert Kiyosaki, Mark Victor Hansen, T Harv Ecker and cultivate the law of attration for prosperity.
October 27, 2009
Thesis of the book is to determine necessary spending, conspicuous consumption, compensatory consumption, graduated obsolescence and artificial obsolesence, and to realize the differences, psychologically and from an accounting standpoint. Determining, for example, that a person might go shopping and spend unnecessarily because they have had an overload at work and feel like they deserve it equals compensatory consumption. Either budgeting a certain amount and using cash, or substituting a luxurious hot bath to fill up the emotionally drained tank might do the trick instead of opening the checkbook.
July 22, 2013
"Pay it Down" is one of those books that is so terrifyingly accurate that one shudders to imagine what would have happened had it been a best-seller when released (it was published in 2004, just enough time before the economy crash to make a difference).
It has wonderful tips and advice, and is refreshingly straightforward about the paths readers must take in order to free themselves of debt.
The problem is that the content is a little dated - with a quick spruce up this could be a must-read for anyone in debt. I'd love to see a revised addition post-crash. This is great for the basics, and I enjoyed it, but it needs a little more updated content to really shine.
It has wonderful tips and advice, and is refreshingly straightforward about the paths readers must take in order to free themselves of debt.
The problem is that the content is a little dated - with a quick spruce up this could be a must-read for anyone in debt. I'd love to see a revised addition post-crash. This is great for the basics, and I enjoyed it, but it needs a little more updated content to really shine.
June 1, 2014
This is a fantastic book that completely lives up to its subtitle about paying down debt and creating wealth on $10 a day. Generally, most people can eliminate all their debts in about three years using this system, and then never be in debt again. The author talks about how to figure out your exact circumstances and how much you owe, quick ways to get the debt down (such as negotiating with creditors to get lower interest rates), and then how to cut expenses to release money to pay debts.
I think this is must reading, even if you're not in debt, to understand exactly how your credit score works and why it's important. I recommend it highly.
I think this is must reading, even if you're not in debt, to understand exactly how your credit score works and why it's important. I recommend it highly.
October 26, 2015
Common sense stuff, but a good refresher on things to focus on. It would be nice to read at least one of these personal finance books that doesn't suggest cutting back on that expensive daily coffee on your way to work. The nearest Starbucks for me and a lot of other people across the country is not on the way to or from work or even in our county. I get the spirit of the suggestion which is examine your daily indulgences and see where you might overspend, but maybe it could be presented in other ways every once in awhile. Small gripe as I wait for my cheap, homemade morning coffee to kick in.
July 12, 2011
I like reading these money advice books to help keep my mind on track when it comes to my finances. Although this was well written it was a bit too basic for me, with charts to fill out being a big part of it (already done that a loooong time ago). This might be good for those who have not read this kind of book before and have little knowledge of money management at all but for those of us who have already read a few books like this it didn't bring anything new to the table. Also it is quite a bit outdated in some of her topics although the main premise is still sound.
August 9, 2012
I can't figure out how to save $10 a day when I'm putting hundreds of dollars toward a high-balance, high-interest credit card already, got rid of the landline, don't have a mortgage, and don't even have cable. As it is, we're already functioning on bare bones. The tips are nice for people having trouble, but it's mostly common sense advice. The book is being donated to my library because I know and have already done (before reading the book) most of what the author advises.
August 15, 2011
Ironically, this book cost me $10. Looks like I'll only have $9.67 a day this month. But seriously, this was interesting read. A lot of the items are common-sense, but many were new to me. Common sense or not, paying it down feels much more realistic when it is laid in front of you in a clear and logical path.
August 1, 2017
I found this while I was cleaning out our stuff, and was intrigued. Like most millennials, I have a butt ton of student loan debt. While I know I am going to have to be a little bit more thrifty than usual with Dave starting full-time school, I think a lot of the advice in this book is really common sense. Oh, you want to save money, stop buying food out.
April 29, 2008
This was a good financial book for paying down debt. It goes a bit further than David Bach's "Latte Factor" because it actually tells you how to find money that you don't need to be spending and exactly what to do with it. I would read more books by Jean Chatzky. It was a quick and easy read.
August 12, 2008
I read this for my job, and I actually really enjoyed it. I haven't read much financial books, but this was a very interesting read. I learned a lot, and Chatzky's dialogue was easy to follow.
Great motivation too!
Great motivation too!
November 6, 2008
There is lots of good advice here on eliminating debt. Although most of it was stuff that I already knew. It also made me realize that my financial issues are nothing compared to most. I would recommend it to anyone who doesn't know where to start when it comes to dealing with their debt.
February 23, 2009
It is alot like the other books I've read only it gives some better goals, like trying to see where you could save $10 a day. Its do able and a somewhat helpful book. Has several very encouraging stories to help the reader feel less alone and more like they can achieve thier goals.
June 18, 2009
There were some stories in here that got me motivated/inspired, but for the most part I didn't really learn anything new. I think it would, however, be helpful for a lot of people who have yet to explore financial options with their credit cards, jobs, banking, mortgage, etc
July 14, 2009
I like the tips. I thought the way she works through a lot of areas that you can cut was very specific and helpful. I really do love reading about saving money. I just wish I could be better at actually doing it!
January 29, 2010
The idea is to find $10 each day and use it to first get out of debt and then use it to build a savings and finally to invest. It provides a lot of ideas of how to "find" money. I found four different ways after reading it to reduce my expenses. Also gives some good info/tips about credit.
Displaying 1 - 30 of 65 reviews