32 of 34 people found the following review helpful:
5.0 out of 5 stars
I'm eager to review the notes I took on John's course, May 26, 2005
I almost didn't consider a review, but in my online research for info about Mr. John Cummuta, I found this link and recalled I could submit a review -and felt the obligation; I ordered the course he offers, so I am guessing that the book here is in the course -or is very similar to it, so my review of his course will give you an idea of how the book is. (I did online research to see what was up with his course and if I should return it & get my money back or keep it.)
Anyhow, some "oldie but goodie" ideas include the simple but reliable adage to NOT be in debt. Mr. Cummuta tells the reader (or listener in my case; I had CD's) early on that you gotta cut up that credit card. He makes his case well, and as a person who has used credit cards successfully for many years, in college and since, I say from experience: He is right. Most of the time, I had not problems with using my credit card, but recently some emergencies have pushed my balance up to about 5,000 dollars, and let me tell you: The interest of about $50.oo per month is eating me up because (as I'm sure you know) you don't pay on the principal owed until AFTER you've paid that interest.
Suffice it to say that he is right. After he makes his case, he casually mentions another wise man, Solomon, the author of Proverbs, whose proverbs caution the reader to NOT be in debt. (Yes, I was surprised to here him quote the Bible, even as a person who believes in it, but he is right, and he is careful to acknowledge that some people might have different religious beliefs. He is careful to not offend the reader, but merely offer this as supplemental info for the curious; He does well here!)
The elimination of credit card debt is not the only thing he has to offer, but there were new things in his packet (which may or may not be in this particular book; I don't know). He lists four (4) different ways to supplement your income, and is careful to admit that these are NOT "get rich quick" methods. The four he lists are: #1, An intro to e-bay and online auctions; #2, buying & renting residential real estate (the "landlord" thing); #3, Creating & marketing information products; and, #4, Online affiliate marketing business (that is, click-able referrers on your website).
Those were a refreshing addition which stimulated my imagination, but the **main** focus he makes is to pay off your debts in a "logical" fashion, prioritizing the "most important" debt first. He shows the reader how you divide the balance by the minimum payment that the creditor sets, and you get this figure for each debt, that tells you which one is a priority. I think that the smaller the balance in comparison to the payment, the easier it is to pay off, and should be prioritized, with the other debts receiving the "minimum monthly" payment. This is "logical" because the "spare cash" you'd have after that debt is paid can go to the other debts.
He also has a laundry list of tips to cut corners, and some of them are good, like getting a used car, which would cost much less yet be still almost as good as a new one. I think (but don't recall) that he advocates using a clothing line instead of a dryer, still a good idea.
One of his strengths is knowing when add-ons to your insurance are good, and makes the case that a higher deductible is not unsafe, because the insurance company would NOT insure you if THEY thought you were a risk, and he suggests you trust the insurance company, as it is comprised of experts. (John surprised me with his attention to detail: He correctly points out that using spare money to pay off debt is better than investing it, due to the comparison between the two interest rates!)
Well, they offered a money back guarantee, and I strained my brain listening to this guy's CD's. He sure can talk, and talk, and talk, and he makes sense, so his book is probably not bad.
All in all, since I knew some of this stuff and took notes on the rest, I feel that I don't need his course, but he is "old school," and will guide you right if you need to get out of debt. My online research confirms my feelings that he is trustable.
Although I am returning his course to get my money back, I nonetheless recommend it for you because his ethics are HONEST: His methods is based on the premise that you don't get something for nothing. When he suggests that you put your credit card in water, and then freeze it, to eliminate "impulse" usage (except for emergencies), you will know what I mean: If you don't get his book or course and are still in debt, don't blame Gordon Wayne Watts of Lakeland, Florida, USA -because he has told you -as one who has experience in credit cards -both good and bad experiences.
My review is meant to be helpful, and I sign with my real name to show I'm not some paid advertisement hack. Even though I'm returning it, I am VERY grateful that I was able to review it (and take good notes). Since I am eager to pour over my notes, this is a good indication that my "5-star" review is accurate: Yes, I highly recommend the John C. Cummuta book.
Gordon Wayne Watts, Lakeland, Florida, USA
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18 of 19 people found the following review helpful:
5.0 out of 5 stars
Life Changing, October 18, 2004
This review is from: Are You Being Seduced into Debt?: Break Free and Build a Financially Secure Future (Hardcover)
This is a must read if you are burdening with debt; don't understand how you got there and want to get out.
I am 66 years old, deeply in debt and until I read this book believed that all my financial debts would only be settled by my estate when I die. Having read the book I now know I can become debt free if God allows me to live another 5 to 7 years to use the principles I learned in this book to payoff the debts.
When I admitted to myself that I was too heavily in debt and actively wanted to find a way out, I prayed that God would help me find a way to get out of this financial burder. I then came to Amazon.com searching for books and then bought John Cummata's book, Are You Being Seduced Into Debt?: Break Free and Build a Financially Secure Future.
Reading the book helped me understnad how much of an impulse buyer I. Soemthing I did not believe, let alone admit to before.
More importantly, John's strategy for getting out of debt in 4 - 7 years has given me a plan to follow and hope in the future to be debt free. Also, now knowing more completely my penchant as an impulse spender I can control futre buying.
Thanks John for your great advice and information in this book.
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13 of 14 people found the following review helpful:
5.0 out of 5 stars
My employees love it, July 19, 2004
This review is from: Are You Being Seduced into Debt?: Break Free and Build a Financially Secure Future (Hardcover)
I am constantly looking for ways to help my employees have a better life. We employ more than 350 great people around the state of Wisonsin. The majority of these people live from paycheck to paycheck. I get many requests for financial help and I hear sad stories from many of my co-workers about the debt lifestyle they live. I have given hundreds of small loans to my employees over the years.
After reading " Are You Being Seduced into Debt", I realized that some of our workers were never going to be able to escape their current financial mess until they understood how debt can ruin their lives.
John Cummuta has changed my outlook on debt through this book. I have made it required reading for anyone who comes to me for financial help. Donald B Knapp
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