How to Get Out of Debt, Stay Out of Debt, and Live Prosperously: Based on the Proven Principles and Techniques of Debtors Anonymous Mass Market Paperback – Mar 1 1990
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Millions of consumers have become trapped in a spiral of debt, but there is hope. If you want to free yourself from the shackles of debt, this book is for you--it can help you "get out of debt, stay out of debt and live prosperously". Jerrold Mundis writes in a friendly, engaging style, urging readers to stop the cycle of spending. Mundis knows what he's talking about--he, too, was once thousands of (US) dollars in debt and didn't know where to turn. Anecdotes from Debtors Anonymous folks, plus multiple examples from the writer's own life and ledgers, make How to Get Out of Debt an encouraging read, not a condescending one. Once you start your program, you may want to periodically reread some chapters for inspiration or fun. --Jake Bond
From Library Journal
Mundis flies a countercultural flag: debt is "wholly unnecessary," and "bankruptcy is not an option." He offers a brief discussion of formal debt-handling methods and several very practical money management techniques from his own hard-won experience. Solutions depend entirely on the use of personal resources, and many Mundis remedies would be hard to apply outside of single-person, middle-class households. Despite its narrow focus, the book's thorough coverage of the Debtors Anonymous approach makes it a useful addition to large personal finance collections. Justine Roberts, Univ. of California at San Francisco Lib.
Copyright 1988 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
Top Customer Reviews
Well, 2 1/2 years later, I've been able to pay off more debt than I care to mention. ($20,000+ comes to mind as a fairly accurate figure). I have often wondered what makes a self-help book really helpful. There are several things about this book that I really liked.
The first is that it is not a book about investments and how to get rich quick. It's not about depriving yourself either. It really doesn't give any specific financial advice which is why I liked it so much. There are other books for stuff like that.
Probably the single most important lesson in this book, and one which has changed my life immensely, is stop borrowing money. Just stop. Do it one day at a time. When I started on my debt repayment plan, I didn't worry so much about paying off my debt as much as not taking on any new debt. If that sounds simplistic, well it is. That's the whole point of this book. It's simple. It's not easy. If you want to heal, stop the bleeding. People who are in the rat race of juggling credit cards are bleeding cash every month. Stop the bleeding first, and then you start to heal.
Another lesson I learned is the monthly spending record. My friends howl when I suggest this. Keep track of every penny, yes every penny, that comes into your life and out of your life. I can say with conviction that that suggestion alone, coupled with not taking on new debt, will make your life so much different, you'll wonder in amazement. The author suggests keeping a weekly spending record and transferring it to a monthly record. I keep just a monthly record.Read more ›
After years of struggle, he found the way out. His method is based on the principles of Debtor's Anonymous, and the keys to the method are these three steps:
1) One day at a time, you don't incur any new debt.
2) You keep an accurate daily spending record.
3) You stick to your spending plan.
Notice I didn't say "three EASY steps." People struggling with debt often find the steps difficult, maybe even impossible, to implement. Why? Lots of reasons, it turns out. The good news is, Mundis helps you understand what those reasons are, and then he shows you ways to find the resolve to stick with the steps.
He offers hope and then some practical help. Truly, I think this is one of the best books I've read on beating debt. I think it will feel like a Godsend to anyone who knows the hopelessness that accompanies crushing debt.
Mundis also has a website. Get the book first, though. If you're a debtor/spender this book is a WORTHWHILE place to spend a bit of cash.
Reviewer: Linda Painchaud
I have recommended this book to lots of people who are having debt problems but don't know where to start for help in fixing them. I have also recommended it to people who have their heads in the sand about their debt problems.
Most recent customer reviews
this book is a must have if you are tired of passing out all of your money to everyone else but you. If you have bill collectors calling your home and job you need this book. Read morePublished on Dec 8 2003 by J. shaw
This is a good book, will help you get started towards solvency. Debtors Anonymous does not endorse this book, but it is a fine primer on the road to recovery.Published on Nov. 30 2002 by R. A Robak
I first read this book about five years ago, when my husband and I were deeply in debt. What shocked me was how well the writer understood my thinking and behavior - I thought he... Read morePublished on April 8 2002
This book made a huge difference in my life. I had problems with debt for 20 years and was heading into serious trouble when I found a copy of this book. Read morePublished on Feb. 13 2002 by Vuillard
This is a good book to help you get motivated and TRULY thinking about getting out of debt, but I don't agree with some of Mundis' suggestions. Read morePublished on Dec 4 2001 by ph3212
Being one of being in debt. I had tried other ways of doing that just didn't seem to work for me. After reading this book and applying whats in this book not only do I have a... Read morePublished on Nov. 11 2001 by Jonathon Baker