Debt-Free on Any Income

Rating:
Summary: Debt Trouble to Peace of Mind
Review: The Shamos' book, Debt-Free on Any Income, is a welcome addition to the body of personal finance literature. It is aimed at those already in consumer debt distress and it details a debt-payoff strategy leading to the goal of living debt-free, on a pay-as-you-go budget. The authors are Mormons and have directed their book primarily to other Mormons - sub-title, "A Practical Guide to Financial Security for Latter-day Saints" - so readers should expect counsel from LDS Church leaders on prudent living. Nonetheless, a wide audience will appreciate the Shamos' principles and approach to personal financial management. The book is well organized and easy to follow. For those with access to a personal computer, the CD-ROM with Excel spreadsheets is very easy to use, however, the worksheets included in the text can be filled out by hand. I particularly liked the 20 page Appendix with money saving ideas across a range of topics. Take a look - I bought several extra copies to give to my adult children and friends in need.