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The Complete Idiot's Guide to Getting Out of Debt
Borrowing from Peter to pay Paul?
The American economy is dragging, with unemployment rates rising and consumer debt hitting $2.5 trillion. Many people are in deep and need help. Here, a Certified Financial Planner explains the mathematics of debt; strategies to deal with credit card, mortgage, student, and other loans; why debt consolidation and taking loans from a 401(k) can lead to problems; truths about bankruptcy; and how to use debt while eliminating it.
*Includes essential resources and websites, sample letters and forms, loan forgiveness programs, bankruptcy resources
*Author a Certified Financial Planner
*Covers every kind of debt, mortgages to credit cards to student loans
*National credit card debt is growing exponentially
The American economy is dragging, with unemployment rates rising and consumer debt hitting $2.5 trillion. Many people are in deep and need help. Here, a Certified Financial Planner explains the mathematics of debt; strategies to deal with credit card, mortgage, student, and other loans; why debt consolidation and taking loans from a 401(k) can lead to problems; truths about bankruptcy; and how to use debt while eliminating it.
*Includes essential resources and websites, sample letters and forms, loan forgiveness programs, bankruptcy resources
*Author a Certified Financial Planner
*Covers every kind of debt, mortgages to credit cards to student loans
*National credit card debt is growing exponentially
352 pages, Paperback
First published February 3, 2009
7 people are currently reading
33 people want to read
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Displaying 1 - 6 of 6 reviews
March 31, 2021
A lot of common sense. Some information is dated.
Reviewed in the United States on April 29, 2020
Whom was this book written for?
If you have a minor amount of debt, then it probably wasn't for you.
This author seems to know that his audience is people who have tens of thousands of dollars. (Not the present reviewer. We have exactly one credit card in a house of 5 people.)
This book is about 11 years old, and a lot of things have changed since then. (For one, people aren't able to use their houses as ATMs any longer.)
He does teach you how to write a proper budget.
Most of these things are common sense:
1. Use cash
2. Pay off the highest interest bills first AND/ OR pay off things that can be brought to a conclusion first (i.e., small bills).
I'd say that people who have the experience of taking care of a family have already worked out a lot of these strategies.
It's worth about $1, plus the hour or so that it takes to read it all the way through.
Reviewed in the United States on April 29, 2020
Whom was this book written for?
If you have a minor amount of debt, then it probably wasn't for you.
This author seems to know that his audience is people who have tens of thousands of dollars. (Not the present reviewer. We have exactly one credit card in a house of 5 people.)
This book is about 11 years old, and a lot of things have changed since then. (For one, people aren't able to use their houses as ATMs any longer.)
He does teach you how to write a proper budget.
Most of these things are common sense:
1. Use cash
2. Pay off the highest interest bills first AND/ OR pay off things that can be brought to a conclusion first (i.e., small bills).
I'd say that people who have the experience of taking care of a family have already worked out a lot of these strategies.
It's worth about $1, plus the hour or so that it takes to read it all the way through.
November 25, 2018
Simple and straightforward. Covered all the basics and topics i didn't think of.
June 8, 2012
Given that this book is meant for people in debt, I think it's an effective summary of what one needs to know. Also, it may be a good read for people about to start independently managing their own finances. Knowing what's bad, how it can happen and how to fix it before it gets worse is certainly good.
October 26, 2012
started this book today and i am on page 211 already! its a great book to purchase just to have around the house and if u are completely wiped out by debt, the steps and guidelines listed will make a lot of your dreary financial problems seem a little clearer! i actually look forward to starting my journey out of debt. Thanks Ken :-)
January 5, 2015
Since I'm Canadian I felt this book was catered to Americans. Wish I could find one in the Canadian context. This is also catered to people who have mortgages rather than people who have just graduated.
December 26, 2009
Read the important parts on a regular basis
Displaying 1 - 6 of 6 reviews