Customer Review

18 of 19 people found the following review helpful
4.0 out of 5 stars Financial expert shows how to get out of debt and live debt free, January 16, 2011
This review is from: Debt Free For Life: The Finish Rich Plan for Financial Freedom (Hardcover)
I had never read anything by this author before and not sure I'd even heard of him. But I read this book and found it quite good. It's a valuable resource and has numerous helpful ideas. Unfortunately, the author spends a lot of precious space promoting some of his money-making ventures that, while no doubt helpful and useful, can be a bit expensive to already strapped readers. I have no major issue with this. Certainly we can't nor should we expect anyone to provide valuable information for free. Yet when we pay for a book, we sort of expect that to pay for the information. Having said that, the author has made this and at least one other of his books available free online. So I guess he uses it to promote himself and his businesses.

I found that a lot of the information and tools are available free online. His website is a bit of a pain to navigate, with popups and other annoying things.

He didn't answer the question that Suze Orman left in many people's minds about getting an emergency fund prior to paying off debt. But he certainly does help a person gather all he needs to plan a real attack against debt and if nothing else is garnered from the book, this is worth the price.

It is a helpful book and some areas will concern the reader perhaps more than others. But if you're looking for help in getting out of debt, this is a great place to start.

Highly recommended.

-- Susanna K. Hutcheson
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Showing 1-4 of 4 posts in this discussion
Initial post: Jul 25, 2012 3:58:43 PM PDT
JPI says:
Hello David,Please permit me to introduce myself, I am Jon. I am currently on vacation from my work as a Defense Contractor in the Middle East. A few months ago I was still holding about $43,000 and change in student loan debt when I picked up your book "Debt Free for Life". During that time, I was able to avail of some fairly large bonuses that were job relevant. Additionally after re assessing my financial status, I re augmented it to completely pay off my debt!!! So in short, while I did NOT necessarily follow your steps outlined in your book and after doing some "hard thinking", I pulled my resources from the aforementioned bonuses and from my portfolio, after doing that I am NOW DEBT FREE!!!!!!rnrnI am so excited about this new development as I now have so much more freedoms, and of course LESS STRESS. I am also on vacation as I write this and now am contemplating on what I want to buy as a reward for this effort. Again, while I did NOT follow all your suggestions, the fact that I understood the jist of your book and willed to annihilate my debt. I still earned the same results as some folks who have read your book and resolved to pay off their debt. For that I thank you and want to share this with you. And do feel free to use it as a testimonial for your other projects.
With much gratitude, Jon

Posted on Oct 22, 2012 1:47:01 PM PDT
[Deleted by the author on Oct 22, 2012 1:47:21 PM PDT]

Posted on Oct 22, 2012 1:47:03 PM PDT
Actually, in one of his other books "Start Late, Finish Rich" he does mention that you need to do all 3 things at once (start an emergency fund, pay off your debt and buy a house. Otherwise, you will be wasting time saving for your emergency fund while you could be paying off debt. Doing all 3 things is the right thing to do. I love Suze, but some of her ideas are not in line with what you should be doing. For example, if it takes you 3 years to start your emergency fund, you could also be paying off debt (DOLP - Dead on Last Payment) so you could have both - more money in your emergency fund, and less debt at the same time. Makes sense to me.

Laura

Posted on Mar 17, 2013 8:19:56 AM PDT
Kathy Edens says:
Just a personal opinion but I would recommend starting the emergency fund first. While aggressively paying off debt is great, if you have no emergency fund and life happens ( as it always does) to hand you an unexpected expense, then you have no cash to pay and guess what....you have to put it on the credit card or HELOC, thus negating all the hard work. With the emergency fund in place there is no need to panic about the expense and you haven't set yourself back on the debt repayment schedule. Replenish the emergency fund with slightly smaller debt repayments, using the difference to re-build the fund.
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