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Summary: Mundis' Practical Guide To Managing Money And Emotions
Review: Jerrold Mundis' practical book "How To Get Out Of Debt, Stay Out of Debt, And Live Prosperously" not only describes handling money properly, but what power money can and must not provide to those having or needing it. Mundis' precepts are easy to understand if not swift to accomplish. He acknowledges this in writing, "Anyone who has taken grade-school arithmatic or who can push the buttons on a simple calculator has all the technical mastery he needs to understand his personal money." His steps: write each and every incoming and outgoing transaction into a weekly, then monthly account. Use those figures to create a budget to fit your lifestyle and repay your creditors, without hard-core sacrifice that only proves self-defeating. Know to the penny what you have, spend and owe. Do not debt, at all, just for today. Or, to quote Teddy Roosevelt, "Do what you can, with what you have, where you are." The most interesting sections concern psychological and social implications associated with and leading to problem debting, and how to overcome and prevent them. Mundis encourages figuring out creative ways to handle money emergencies other than with a credit card. He encourages meditation, visualization, planning future successes beyond momentary highs or relief credit seems to provide. He explains how to handle the collection agency, lawyer, courtroom. To achieve this, he encourages creative list making, re-evaluation of supposedly nevessary material things (his section, "Keel The Bool" most notably here) or ideas that seemed zany. Most of all, he encourages dismissal of any emotions associated with money: it's no mood changer, nor love declaration when spent, nor sell-out to materialism and selfishness when saved. His opening chapters, describing the types and warning signs of problem debting, were chillingly accurate and uncompromising. ("And everybody bounces a check now and then, don't they? No. Most people without a debt problem hardly ever do.") Mundis writes with the compassion and reassurance of someone knowing the issues of problem debting. His three things to remember when debt worry becomes overwhelming are among the most useful worry defusers I have heard. Yet Mundis also speaks with the zeal of the recovered addict, knowing the road to and from disaster and letting no one cross or return. His personal stories and case studies from Debtors Anonymous (including that of the young woman who tearfully gave up her American Express card), are sweepingly sad. Like all self-help books, "How To Get Out Of Debt" can only be judged successful if those reading it apply its precepts and achieve its promised conclusion. (Obviously, those for whom debting is not an issue probably do not read or review, these books.) Suffice it to say that Mundis has provided possible emotional and practical tools to achieve financial freedom, and has done so in re-readable, instructional style. Debtors Anonymous, quoted liberally as inspiration and support source, would do well to endorse this guide in its program.
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Summary: If you like this book, you'll love Slash Your Debt!
Review: Mr. Mundis does a terrific job of explaining the Debtors Anonymous approach. If you are looking for more information on debt consolidation success strategies, you will love the newly published book: Slash Your Debt: Save Money and Secure Your Future! Slash Your Debt is the ultimate debt consolidation handbook: discover the 8 essential keys to debt consolidation, the secret of pre-payment, and avoid expensive traps when you use a home equity loan as a debt consolidation tool. Slash Your Debt is written by top credit experts Gerri Detweiler, Marc Eisenson and Nancy Castleman. Here's a tip from the book to get you started: to save the most, re-finance and pre-pay.
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Summary: Hope and Help for anyone struggling with debt.
Review: Mundis has been where you are. He's struggled with massive debt, considered bankruptcy, felt despair over low income and climbing credit card balances. After years of struggle, he found the way out. His method is based on the principles of Debtor's Anonymous, and the keys to the method are these three steps: 1) One day at a time, you don't incur any new debt.
2) You keep an accurate daily spending record.
3) You stick to your spending plan. Notice I didn't say "three EASY steps." People struggling with debt often find the steps difficult, maybe even impossible, to implement. Why? Lots of reasons, it turns out. The good news is, Mundis helps you understand what those reasons are, and then he shows you ways to find the resolve to stick with the steps. He offers hope and then some practical help. Truly, I think this is one of the best books I've read on beating debt. I think it will feel like a Godsend to anyone who knows the hopelessness that accompanies crushing debt. Mundis also has a website. Get the book first, though. If you're a debtor/spender this book is a WORTHWHILE place to spend a bit of cash. Reviewer: Linda Painchaud
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Summary: Hope and Help for anyone struggling with debt.
Review: Mundis has been where you are. He's struggled with massive debt, considered bankruptcy, felt despair over low income and climbing credit card balances. After years of struggle, he found the way out. His method is based on the principles of Debtor's Anonymous, and the keys to the method are these three steps: 1) One day at a time, you don't incur any new debt.
2) You keep an accurate daily spending record.
3) You stick to your spending plan. Notice I didn't say "three EASY steps." People struggling with debt often find the steps difficult, maybe even impossible, to implement. Why? Lots of reasons, it turns out. The good news is, Mundis helps you understand what those reasons are, and then he shows you ways to find the resolve to stick with the steps. He offers hope and then some practical help. Truly, I think this is one of the best books I've read on beating debt. I think it will feel like a Godsend to anyone who knows the hopelessness that accompanies crushing debt. Mundis also has a website. Get the book first, though. If you're a debtor/spender this book is a WORTHWHILE place to spend a bit of cash. Reviewer: Linda Painchaud
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Summary: Sensible attitudes about money
Review: Mundis has taken the essence of a 12 step program (Debtors Anonymous)and made it readable and useful. People who have trouble with credit, with the IRS or who are just not getting what they want out of life will love this book. It is not conference approved by Debtors Anonymous but I give a copy to everyone I sponsor and even people not in the program who look like they need it. It is just one of those books that everyone ought to read. Joe jeanbell@zianet.com
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Summary: Sensible, useful, simple, and valuable
Review: Mundis's book is a straightforward and sensible way to look at your financial life and make it more responsive to your choices. Whether you have a debt problem or not, his method is powerful and productive. Many ideas are of the "why didn't I think of that?" variety--but I didn't. Highly recommended.
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Summary: Just What I Needed
Review: Not long after I started reading this book, I felt as though a huge weight was being lifted off my shoulders. First of all it helped enormously to read about other people who had the same type of financial problems as I did and then to see that they had actually worked their way out of them by following this program - gave me the encouragement and strength that I needed. It is really all so simple- but "WOW" what a powerful book! I strongly recommend it for anyone.
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Summary: Amazing Book- Should Be A First Read for many in debt.
Review: Ok, I have to confess. I just recently got out of debt. I still need this book though. Why? To prevent it from happening again. This book gives simple reasons, that many of us never actually reflect upon, of why we get in debt. It gives psychological reasons without putting all sorts of jargon in your face. It also helps that this author was in debt. Perhaps he is one of the few who actually admit this. Many financial books I read, though very good, come from where it is an "expert" or author who never states if they ever were in debt. It's good to think this comes from someone who had been in my shoes and vice versa. I got the book from the library, but also want to buy a copy for my own personal library. It also seems timeless enough where he would have to do very little updating. Don't beleive any negative reviews (only one so far, so that should probably tell you something) and invest in this book. The change is within you, but sometimes you need help to bring it to the outside. Good luck on your journey. Use this book as a tool, on that first step. You won't look back.
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Summary: How to Get Out of Debt, Stay Out of Debt and Live Prosperou
Review: Seven years ago I purchased this book. At that time I was in what I considered at the time real financial trouble. I passively read the book twice before taking the time to concentrate on what it was really saying. Five years after my third reading of the book I was completely debt free and I can tell you that the feeling of relief was incredible. For those of you who are looking for step-by-step instructions, you won't find it in this book, but with a good head on your shoulders and some determination, you shouldn't need that type of approach. You will generate the method on your own. As I mentioned before, it has been seven years since I last read this book. I still remember the basic principles but plan to brush up on it again. I was married two years ago, we now have a home, a baby, and several cars. Before I find myself in a familiarly uncomfortable position, I'm going to share this with my wife, and make sure it doesn't happen ever again. I would suggest this book to anyone willing to work hard to get themselves out of debt.
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Summary: A TRULY INSPIRATIONAL AND IMPORTANT WORK
Review: Should be read by everyone who is in debt or plans to be in the future (which is probably everyone over 18). This book is amazing in it's simple, thoughtful approach to debt management both financially and emotionally. Mr. Mundis gives a heartfelt, rational, very sympathetic yet never condescending narrative to those of us who have been debtors over the years and have the bills and debts to prove it. Wish I read this when I was 18. Would have saved me a bundle. But it's never too late to start. A $7 book (less through Amazon, of course) that could save you literally thousands. Really. A book to be read over and over again. It's been around 10 years so you know people must still be needing it. A truly special, important book. Thank you, Mr. Mundis for an eye-opening experience.
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