Automotive Deals Summer Reading Amazon Fashion Learn more Discover it Look Park Fire TV Stick Ruby jewelry Amazon Cash Back Offer TarantinoCollection TarantinoCollection TarantinoCollection  Amazon Echo  Echo Dot  Amazon Tap  Echo Dot  Amazon Tap  Amazon Echo Introducing new colors All-New Kindle Oasis AutoRip in CDs & Vinyl Water Sports
Customer Review

2 of 2 people found the following review helpful
5.0 out of 5 stars Debt-Proof Living, March 27, 2011
This review is from: Debt-Proof Living: The Complete Guide to Living Financially Free (Debt-Proof Living (Paperback)) (Paperback)
Book Review
By
Jason Scott

Debt-Proof Living
By
Mary Hunt

This is a book that I really wish I could have read 20 years ago! Mary Hunt, in this book shares ideas and tips that helped her erase about hundred thousand dollars of what she would classify as "stupid debt" or non-secured debt. Probably the most common form of non-secured debt would be credit card debt. Mary Hunt's strategy is encouraging for a couple reasons. First it does not contain the word "budget" which many times can be intimidating and constraining. Second it can be tweaked. She gives suggestions for goals that can be obtained, but she stresses constantly in the book to go with what the individual feels they can accomplish. This does not take away from her encouraging the reader to push themselves. Her strategy seems doable even for those deep in debt.

Some of the highlights of her plan include the 10-10-80 model. The first 10 percent of the net paycheck should be given away. This can be given in many different places, but the best place is the church one attends. If a person does not attend a church, there are several places one could give. Hunt lists four reasons to give: Giving proves the condition of the heart, Giving connects one to the world, Giving connects one to God, and Giving teaches one's brain that they have more than enough.( Pg56-57). The next 10 percent is for saving. This is to "start building your defenses so that soon you will not have to depend on credit-card companies. You will be funding your own emergencies." (Pg 60) The remaining 80 percent is to pay the bills, get the groceries, and the rest of the living expenses that one has. Another highlight is what Hunt calls the RDRP or Rapid Debt Repayment Plan. "This plan is specifically designed for unsecured debt--not your mortgagee, home equity, loans or auto loans." (Pg 91). Hunt list four rules for the RDRP--1) No more new debt. That is do not charge anymore on the credit cards. 2) Pay the same amount each month, each month the minimum payment will go down, but keep paying the same amount each month. 3) Line up your debts according to the number of payments required, and 4) As one debt is paid, take its payment and redirect it to the regular payment of the next debt in line.

This book is well written. Hunt mixes in humor along with personal stories that help make her point. It is a fairly easy read especially considering the topic. Oftentimes finances can be a bit of a bore to read, but this book flows nicely. The advice in this book can help those that have gotten caught in the debt trap, but it can also help those that have not fallen to stay out!
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No

Be the first person to comment on this review.

[Add comment]
Post a comment
To insert a product link use the format: [[ASIN:ASIN product-title]] (What's this?)
Amazon will display this name with all your submissions, including reviews and discussion posts. (Learn more)
Name:
Badge:
This badge will be assigned to you and will appear along with your name.
There was an error. Please try again.
Please see the full guidelines here.

Official Comment

As a representative of this product you can post one Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
The following name and badge will be shown with this comment:
 (edit name)
After clicking the Post button you will be asked to create your public name, which will be shown with all your contributions.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.  Learn more
Otherwise, you can still post a regular comment on this review.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
 
System timed out

We were unable to verify whether you represent the product. Please try again later, or retry now. Otherwise you can post a regular comment.

Since you previously posted an Official Comment, this comment will appear in the comment section below. You also have the option to edit your Official Comment.   Learn more
The maximum number of Official Comments have been posted. This comment will appear in the comment section below.   Learn more
Prompts for sign-in
  [Cancel]