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Summary: Truly an excellent book!
Review: After finding myself in debt that could no longer be ignored, I needed to make a change in my life. I started by reading this book. It truly is an excellent book. It is well written and easy to understand, and the concepts are quite applicable. If you are serious about getting out of debt, and if you need a guide like I did, then I highly recommend this book. I have read it once and from time to time I reread it in order to really apply the concepts found in it. Good luck!
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Summary: Feel like they didn't teach you how to spend money right?
Review: At age 35, I felt like I never learned how to have a healthy relationship with money. This book helped me understand how to develop a healthy relationship with money, spending, saving, and earning it. My salary is 20% less than two years ago (chosen life style change), and yet I have more money now than then! This book is geared toward those with very large debt who have creditors knocking down the doors. However, even those of us who can still manage to juggle the debt around (you know who you are), without having a late payment (yet) will greatly benefit from this book. My financial advisor gave me this book when we began working together. After only 30 minutes with her, she told me that my net worth was badly in the red (yikes!) Gently, she recommended debt reduction BEFORE investing. This book opened my eyes to my relationship with money and spending. Only 4 months later, I have not incured new debt (credit card is in a jug of ice in the freezer - there for emergencies, but takes time to get to it - great for taking time to change your mind), I pay more than the minimum on my credit card, I'm paying off my student loans, putting money aside monthy to create a next egg, and able to invest in my 403b plan at work for the first time in 4 years! This on less money than two years ago! This book is based on the principles of Debtor Anonymous, don't let that scare or intimidate you!, The premis is simple; Today, I will not incure new debt. It goes from there to include keeping close track of all spending, creating payment plans you can afford (not what the loan/bank is asking for), spending money well for yourself, and most of all, about impulse control skill development. That was essential for me! If you are ready to change your relationship with money, spending, saving, etc. Then try this book. What's $7 when your debt is as big as yours? BTW, this book also helped save my relationship with my fiance. I would get into panic attacks over my finacial situation and freak him out. Now, I'm calm about my money and he sees me with new respect and admiration for my desire to change and improve that aspect of my life. He has begun to review his relationship with money as well and we have become so much more secure with each other as a result! Good Luck!
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Summary: This book saved my life!
Review: Back in February of 1999, a friend recommended this book to me, and it saved my life! I was in deep financial trouble, bought it with my last $10, and immediately put the plan into effect. I've never looked back since. While I am not completely debt free yet, I am happy to write that I've managed to pay off half of a $15,000 debt in nearly 1 1/2 years. The end is near enough for me, though, as now I can sleep at night, open my mail and listen to my voicemail without having a panic attack for fear that a collection agency is after me. $7 is a tiny price to pay for such a wealth of information and peace of mind. This is not a quick fix, and this is by no means an easy road. I can promise you, however, that you will never feel deprived, and the peace of mind alone is priceless. It does work, if you work it! Thanks so much to Jerrold Mundis for putting this book out there!
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Summary: Lays out a simple way for debt-a-holics to free themselves
Review: Based on the proven principles and techniques of Alcoholics Anonymous, this book lays out a clear, simple way for debt-a-holics to free themselves from debt, and stay free -- forever. A great value for the money.
Rating: 
Summary: Awesome assistance
Review: Being one of being in debt. I had tried other ways of doing that just didn't seem to work for me. After reading this book and applying whats in this book not only do I have a better stress free approach, but I feel about better about my self in whole.
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Summary: simple solution: stop debting today
Review: funny how some other readers have been disappointed with mr. mundis' book - wanting more direct 'how to' instruction. so typical of debtors to want something for nothing. as a debtor in recovery, i understand that. mr. mundis' book has changed my life and i found very clear and specific guidance in this book. it involves making a fundamental shift in my consciousness though, and that is far more difficult and profound than some accounting software. the instructions are there, in plain language, and have the power to transform if one is ready to make that kind of bold statement. i'm going to read this again and buy a copy for a friend.
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Summary: A Healthy Way to Deal with Money
Review: I checked this out from the library as I have a fascination with finance books in general. If you aren't deeply in debt, it starts off a little slow and sounds like an exerpt from an Alcoholics Anonymous meeting. That is not implied as derogatory towards AA, just that it's not fun reading. The rest of the book more than makes up for this boring start by setting out exactly how to manage your money. The author explains specifically what steps are important and how to evaluate success along the way. Each task is simple, powerful, and easy to do. I now have my own copy, and an extra one to give away when someone picks it up. This should be mandatory reading for college students. It is not just for those who are deeply in debt, but also helpful for anyone who wants to take control of their money.
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Summary: Not what I expected
Review: I expected this book to help plan goals and ideas to get out of debt the best way possible. Instead I found that this book only attempted to provide the right mental state to get you out of debt. Obviously, if I am purchasing books like this I am in the right mental state to get out of debt, but how do I do it. I recommend this book for the person who needs the extra shove to start getting themselves out of debt. However, if you are prepared and just want to know how to do it I wouldn't recommend this book for you!
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Summary: A life-changing book!!
Review: I first read this book about five years ago, when my husband and I were deeply in debt. What shocked me was how well the writer understood my thinking and behavior - I thought he must be a mindreader! He knew all too well every rationalization and strategy we had used over the years to keep from facing our debt.
Mr. Mundis has a simple and successful solution to debt: stop debting, one day at a time. If you think this is impossible, he will show you how. We are now debt-free, yet I reread this book occasionally for inspiration and to stay on the right path. If you are in debt - get this book!
Rating:
Summary: Worth at least 100 times the price
Review: I first read this book almost by accident in September of 1997. I was browsing through a bookstore out of town, and there it was. I thought $7 couldn't hurt. I've tried everything else. Why not this book? Well, 2 1/2 years later, I've been able to pay off more debt than I care to mention. ($20,000+ comes to mind as a fairly accurate figure). I have often wondered what makes a self-help book really helpful. There are several things about this book that I really liked. The first is that it is not a book about investments and how to get rich quick. It's not about depriving yourself either. It really doesn't give any specific financial advice which is why I liked it so much. There are other books for stuff like that. Probably the single most important lesson in this book, and one which has changed my life immensely, is stop borrowing money. Just stop. Do it one day at a time. When I started on my debt repayment plan, I didn't worry so much about paying off my debt as much as not taking on any new debt. If that sounds simplistic, well it is. That's the whole point of this book. It's simple. It's not easy. If you want to heal, stop the bleeding. People who are in the rat race of juggling credit cards are bleeding cash every month. Stop the bleeding first, and then you start to heal. Another lesson I learned is the monthly spending record. My friends howl when I suggest this. Keep track of every penny, yes every penny, that comes into your life and out of your life. I can say with conviction that that suggestion alone, coupled with not taking on new debt, will make your life so much different, you'll wonder in amazement. The author suggests keeping a weekly spending record and transferring it to a monthly record. I keep just a monthly record. It takes up very little time. It's also very eye opening how much money flows right out the expense column every month. The benefit of this is it allows you to make adjustments and find out where you are bleeding. It's not enough to guess. Until you write down everything, you will never fully understand where your money problems are. You can use a computer spreadsheet or you can do what I do which is write it down on old fashioned paper. Another lesson this book taught me is that you don't need a credit card. Now there's a revolutionary concept. If you really think about it, how many people in your life including yourself say, "I need a credit card for emergencies." Hogwash! I've had two genuine emergencies in my life where I needed money and needed it fast. Well guess what? I had two choices, I could pay with a credit card or I could pay with cash. I paid with cash. Funny how many people accept cash as a payment these days. If you want to get out of debt, get out of the credit card habit. Use a debit card. I use my Visa debit card for all my amazon.com purchases, and it works beautifully. Same as cash. One more thing, if you use credit cards and you pay interest every month, do you realize you're making the bank rich? Do you realize you're working for the bank? Whether you like it or not, that's true. Here's another lesson. Look over your credit card balances right now and ask yourself out of all the money you owe, how much stuff do you have to show for it? Why do I give this book 5 stars? Well, I can divide my life into two time periods. The first time period was everything that happened up until september 14, 1997 which is the day I bought the book, and everything that has happened since then. I have no credit card debt at all since reading that book. I do have a credit card (okay, I cheat) with a $350 limit only to rebuild my credit. I pay it off every month. One word of caution, reading this book can be frustrating at times because you will come to the full realization that your attitude about money is completely wrong and that you are overwhelmed with debt that will take a long time to pay off. Relax. Once you start paying off your debt, it's all downhill. It picks up speed as you go along. I know, I've done it. Thanks Jerrold Mundis for writing this book. I've saved thousands of dollars in interest because of it.
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