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Master Your Debt: Slash Your Monthly Payments and Become Debt Free
Strategies and tools to live debt free
The world of borrowing and debt management has changed dramatically, leaving people confused about how best to secure their financial future. This book is the only guide with detailed advice to help you become debt free or master the debt you have, based on the latest laws and new government programs and policies implemented under the Obama administration.
Is the information and advice on debt management different than in years past? Definitely. In this savvy, engaging guide, bestselling financial expert Jordan Goodman will tell you how to
Win the mortgage game: avoid foreclosure, obtain the best refi, and modify your mortgage even if it is "under water" Clean up your credit report and dramatically boost your credit score Negotiate new terms and payments for burdensome medical bills, student loans, and credit cards Protect yourself from the devastation of identity theft Master the new credit card rules, and avoid the rate and fee traps Learn a revolutionary strategy that will help you become mortgage free in 5 to 7 years, change the way you pay all your bills, and save hundreds of thousands of dollars Master Your Debt recommends many pioneering strategies as it lays out an innovative plan for achieving the elusive goal of financial success. The book is filled with helpful web sites, toll free numbers, associations and government agencies, and vetted companies and services to help you implement this advice. In today's volatile economy, getting out of debt is the key to surviving and thriving, and author Jordan Goodman provides you with the strategies and tools to live debt free.
The world of borrowing and debt management has changed dramatically, leaving people confused about how best to secure their financial future. This book is the only guide with detailed advice to help you become debt free or master the debt you have, based on the latest laws and new government programs and policies implemented under the Obama administration.
Is the information and advice on debt management different than in years past? Definitely. In this savvy, engaging guide, bestselling financial expert Jordan Goodman will tell you how to
Win the mortgage game: avoid foreclosure, obtain the best refi, and modify your mortgage even if it is "under water" Clean up your credit report and dramatically boost your credit score Negotiate new terms and payments for burdensome medical bills, student loans, and credit cards Protect yourself from the devastation of identity theft Master the new credit card rules, and avoid the rate and fee traps Learn a revolutionary strategy that will help you become mortgage free in 5 to 7 years, change the way you pay all your bills, and save hundreds of thousands of dollars Master Your Debt recommends many pioneering strategies as it lays out an innovative plan for achieving the elusive goal of financial success. The book is filled with helpful web sites, toll free numbers, associations and government agencies, and vetted companies and services to help you implement this advice. In today's volatile economy, getting out of debt is the key to surviving and thriving, and author Jordan Goodman provides you with the strategies and tools to live debt free.
- GenresNonfictionFinance
224 pages, Hardcover
First published January 13, 2010
17 people are currently reading
57 people want to read
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Displaying 1 - 14 of 14 reviews
May 17, 2018
Useful nuggets, rules of thumb that are good pieces of financial advice. Written just after the Great Recession and large portions are no longer relevant; many of the programs mentioned are gone/modified and current/normal financial situations are not addressed.
August 19, 2018
Very dated, so I mostly skimmed the content. I got it from the library for Chapter 6 on the equity acceleration strategy for paying off mortgages early.
March 20, 2010
When I received Master Your Debt by Jordan E. Goodman, I was expecting a finance book similar to one authored by Suze Orman or Dave Ramsey. However, instead of advice on creating a budget, lowering expenses, and paying off debt, Master Your Debt is more about helping you navigate today's financial landscape. Goodman explains how we got into our current mess of an economy and how that has changed the way loans, mortgages, credit cards, and even student loans are handled today.
Of course in order to figure out where you are going and how to get there, you still have to know where you are starting from. Goodman does provide the basics for getting a handle on the current state of your finances and emphasizes that the best way to move forward financially is to be completely honest about where you are. The next two chapters are dedicated to understanding how credit scores are calculated and what steps you can take to improve yours and how to reduce the risk of identity theft. Although identity theft can be devastating to one's finances, it is not a topical I have seen so thoroughly covered in a finance book.
Goodman offers some interesting advice on how to negotiate the best mortgage with the chances in lending practices and also on using a HELOC to repay your mortgage at a faster rate. I would caution that one must be very financially responsible to use his recommended payment methods because, unless you are paying very close attention, it would be easy to simply get deeper into debt instead of reducing it.
Goodman completely covers the new laws covering credit cards that recently went into effect and the impact those laws are having on even consumers who regularly pay their credit card bills in full and on time. Car loans and student loans are other topics with devoted chapters. There is one chapter on what to do if you are already in serious financial trouble and another on different financial strategies at different stages in life.
For the most part, I found Master Your Debt easy to read and understand with the advice given in a very straightforward manner. There were two main downsides to the book for me. First, Goodman regularly promotes companies and services to help with many different aspects of handling personal finances. While I believe that sometimes it can be helpful to work with experts, I am sure that many of these companies charge fees that many people simply cannot pay currently due to job loss or facing foreclosure. He even recommends credit counseling services despite acknowledging that this industry has been cited for promising much more than it delivers. Goodman also admits to having his favorites among these companies or personally knowing people involved in founding or running them. While this does not necessarily mean there are any type of kickbacks involved, it does raise red flags. The second issue, and this is one Goodman freely admits, is that this book will become outdated rapidly. Because Goodman discusses specific financial products and types of loans, there is no way of knowing if those products or loans will even be the same ones available in a few months. Washington and Wall Street are also rapidly changing the way our financial system works so the advice that is sound today may not work tomorrow. Goodman heavily promotes websites and the Internet is certainly not a static place for information.
Despite these flaws, I do think this could be a useful book if only for a limited amount of time and if the reader does a lot of his or her own research before making serious financial decisions.
Of course in order to figure out where you are going and how to get there, you still have to know where you are starting from. Goodman does provide the basics for getting a handle on the current state of your finances and emphasizes that the best way to move forward financially is to be completely honest about where you are. The next two chapters are dedicated to understanding how credit scores are calculated and what steps you can take to improve yours and how to reduce the risk of identity theft. Although identity theft can be devastating to one's finances, it is not a topical I have seen so thoroughly covered in a finance book.
Goodman offers some interesting advice on how to negotiate the best mortgage with the chances in lending practices and also on using a HELOC to repay your mortgage at a faster rate. I would caution that one must be very financially responsible to use his recommended payment methods because, unless you are paying very close attention, it would be easy to simply get deeper into debt instead of reducing it.
Goodman completely covers the new laws covering credit cards that recently went into effect and the impact those laws are having on even consumers who regularly pay their credit card bills in full and on time. Car loans and student loans are other topics with devoted chapters. There is one chapter on what to do if you are already in serious financial trouble and another on different financial strategies at different stages in life.
For the most part, I found Master Your Debt easy to read and understand with the advice given in a very straightforward manner. There were two main downsides to the book for me. First, Goodman regularly promotes companies and services to help with many different aspects of handling personal finances. While I believe that sometimes it can be helpful to work with experts, I am sure that many of these companies charge fees that many people simply cannot pay currently due to job loss or facing foreclosure. He even recommends credit counseling services despite acknowledging that this industry has been cited for promising much more than it delivers. Goodman also admits to having his favorites among these companies or personally knowing people involved in founding or running them. While this does not necessarily mean there are any type of kickbacks involved, it does raise red flags. The second issue, and this is one Goodman freely admits, is that this book will become outdated rapidly. Because Goodman discusses specific financial products and types of loans, there is no way of knowing if those products or loans will even be the same ones available in a few months. Washington and Wall Street are also rapidly changing the way our financial system works so the advice that is sound today may not work tomorrow. Goodman heavily promotes websites and the Internet is certainly not a static place for information.
Despite these flaws, I do think this could be a useful book if only for a limited amount of time and if the reader does a lot of his or her own research before making serious financial decisions.
Want to read
May 24, 2012Saw this at the library and it looked good....but of course I don't have time now to read this. In addition to becoming focused on being debt free, this book (by reading the flap) tells you how to master credit card debt you have based on current laws. Here's an exerpt from the front flap..
"The world of borrowing and debt management has changed dramatically leaving people confused about how best to secure their financial future. This book is the only guide with detailed advice to help you become debt-free or master the debt you have, based on the latest laws and new government programs and policies implemented under the Obama administration. ......will show you how to:
Win the mortage game: avoid foreclosure, obtain the best refinancing, and modify your mortgage even if it's 'under water'
Clean up your credit report and dramatically boost your credit score...
Master new credit card rules, and avoid the rate and fee traps...."
"The world of borrowing and debt management has changed dramatically leaving people confused about how best to secure their financial future. This book is the only guide with detailed advice to help you become debt-free or master the debt you have, based on the latest laws and new government programs and policies implemented under the Obama administration. ......will show you how to:
Win the mortage game: avoid foreclosure, obtain the best refinancing, and modify your mortgage even if it's 'under water'
Clean up your credit report and dramatically boost your credit score...
Master new credit card rules, and avoid the rate and fee traps...."
September 25, 2010
For those of you who are regular readers, you know I don't often review non-fiction, but this book has helped me, so I am definitely reviewing it. I have paid off three credit cards and reduced my overall debt by about 4000 bucks, in addition to the good debt I have analyzed and learned to handle better. Not bad for reading a book and jotting down some numbers.
The author gives clear and concise examples in ways a non-money efficient person can understand. He also gives excellent strategies that an everyday person can implement. Anything you want to know about money handling is in this book. Mr. Goodman does go a bit overboard on the history lessons in some chapters but it's not completely unbearable. There is also a handy resources guide and a guide for emergency money situations. Definitely worth my time and effort.
The author gives clear and concise examples in ways a non-money efficient person can understand. He also gives excellent strategies that an everyday person can implement. Anything you want to know about money handling is in this book. Mr. Goodman does go a bit overboard on the history lessons in some chapters but it's not completely unbearable. There is also a handy resources guide and a guide for emergency money situations. Definitely worth my time and effort.
November 15, 2010
Not an especially exciting topic, but author provides a reasonable, well-organized discussion of managing debt, with separate chapters on student loans, mortgages, credit cards, etc. Probably you'd need to go into more depth (and he provides references for where you can find it) to implement some of the trickier strategies (e.g., equity acceleration, which sounded to me like paying for virtually everything from a home equity line of credit), but for the most part it's straightforward stuff--pay off highest-interest credit card first etc. Nice tone throughout of taking it seriously but showing compassion for those in over their heads or in need of filing for bankruptcy. The "predatory lenders" in particular come in for frequent tongue-lashings. Should add the college I attended to this list.
March 28, 2016
I was a the Library looking for non-fiction books. About budget, finances, business. And when I saw this book I picked with me and started reading. I learned things that I didn't know.
The author gives clear and concise examples in ways a non-money efficient person can understand. He also gives excellent strategies that an everyday person can implement. Anything you want to know about money handling is in this book. Mr. Goodman does go a bit overboard on the history lessons in some chapters but it's not completely unbearable. There is also a handy resources guide and a guide for emergency money situations. Definitely worth my time and effort. I recommend it for anyone who has debts or wants some financial knowledge.
The author gives clear and concise examples in ways a non-money efficient person can understand. He also gives excellent strategies that an everyday person can implement. Anything you want to know about money handling is in this book. Mr. Goodman does go a bit overboard on the history lessons in some chapters but it's not completely unbearable. There is also a handy resources guide and a guide for emergency money situations. Definitely worth my time and effort. I recommend it for anyone who has debts or wants some financial knowledge.
March 25, 2010
The current world of debt has become very confusing. Master Your Debt can help you to understand the changes it is well written and easy to follow with lots of good information . I have read many money management books over the years but most of the information in this book was new to me. I liked how the advice is not only about how not to get in financial trouble but more importantly what to do and what not do if you are already in trouble. The book covers just about every thing from different mortgages to how to get help with medical bills. A good book for bad times.
September 4, 2013
Written two years after the recession, this book does a good job in outlining the new credit card laws, student loans, new mortgage game and how to get out of debt in layman's terms. Yes, not all of it will apply to everyone, it didn't to me but reading this book helped me understand about my finances and what I personally need to do to get out of debt. And honestly, that is really all I am looking for every time I read one of these books, how to better understand how money and finances work. So on that point, this author delivered.
September 23, 2010
I learned very little that I didn't already know. But then, I've read a lot of personal finance books. For the newbie, this would probably be an informative book.
May 28, 2011
Overall, ok, but still skeptical about the accelerated mortgage payoff using a home equity line of credit plan recommended
June 5, 2013
We'll find out it that 5 star rating is accurate. I'm going to give this a try. See if it works. :)
March 3, 2015
This was a very good book and very informative.
June 4, 2011
This was recommended to me, and I understand why. Goodman gives tips I hadn't before heard of.
Displaying 1 - 14 of 14 reviews