Customer Review

226 of 236 people found the following review helpful
3.0 out of 5 stars The facts, just the facts..., February 8, 2005
This review is from: Pay It Down! From Debt to Wealth on $10 a Day (Hardcover)
Find an extra ten dollars a day, apply it to your credit card debt, DON'T CHARGE ANY MORE on those cards and in 3 years you'll have paid off a huge chunk of debt....maybe even all of it.
That is the basic info in this book and it simply isn't reason enough to buy it. Like dieters who lost 10 or 20 pounds and then gain it back, those who are in debt are likely to fall back into debt again - unless they change their way of thinking bigtime.
That is why credit card companies love those customers who are paying 10, 12, even 17 percent interest. They might pay it down but odds are they'll also rack up the debt again. Plenty of credit card companies even INCREASE the credit limit for these folks. Why not? From their point of view, it may be quite profitable.
Finally, there is another problem that ISN'T addressed by this book - and that is the belief that there is an extra $10.00 a day to be found in the average budget. Truth is, some people are paying for the necessities of life with credit cards - food, home, medical bills. For them, not only is there no extra money to be found, there is not a single area in the bduget that can be cut. An extra job, better health insurance or some other type of solution might help them but until that comes along they aren't likely to shuck the credit card habit. And they certainly shouldn't spend their hard earned money on this book.
For the average person, buying this book won't hurt a thing...but it won't solve your problems, either, unless you are willing to take a good hard look at your spending patterns and make some PERMANENT changes - stop charging, get an extra job, don't buy a thing that isn't necessary. For those willing to examine every purchase in the light of a new, more spartan outlook, change is possible. But will this book be the only guide you need? Don't think so. Meeting with a good financial counselor on a regular basis (think of this person as " a personal trainer " for your financial life)could bring about more longterm results.
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Showing 1-2 of 2 posts in this discussion
Initial post: Jul 27, 2008 12:50:55 AM PDT
KC says:
I definitely agree with this particular review...for the average person "in dept" of financial distress, ten bucks may not be the easiest to come across with gas prices sources-very helpful & realistic review!

In reply to an earlier post on Dec 21, 2009 5:04:03 AM PST
R. G. Kazmar says:
Yeah, $10 every single days adds up to $70 a week, which is a good chunk of change for anyone I know. It's a good chunk for my family, and we're typical mid-middleclass.
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