The book has been a life changer for me and my finances!!! It was written by Jerrold Mundis.
When I read this book over a year ago I had $16,000 in total debt, a loan with an APR of 16.99% and a feeling like I was living in austerity.
Since then I have stopped using credit cards completely, paid off $6,000 in debt including paying off my student loan and a store credit card. I was able to use a balance transfer to change the loan APR from 16.99% to 1.99%. And the best part I took my first Caribbean vacation and paid for everything in CASH!!!
It recommend simple techniques that have made a huge difference. You write down everything you spend and then put it into categories. Create a spending plan based on the expenses you write down but also set up long term goals. I created a savings account for Vacation, Clothing, Pampering, Christmas, Taxes, etc.
The most important thing I learned from this book was to pay myself first. My old spending plan had me trying to paying off a bunch of bills and then trying to live off the rest. Now I have flipped that and feel like I'm really enjoying my life and still making progress towards being completely debt free. I will pay the debts back but in my own time. If I keep up my payment schedule I'll be debt free in the next three years and that is not including windfalls or tax refunds (which I put a third towards debt, a third towards monthly expenses and a third towards something fun).
I highly recommend this book for anyone wanting help learning how to live solvently and prosperously. : )
Paul Smith
Butterfly
Ajc
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