2018 Reading Challenge

2018 Reading Challenge

2018 Reading Challenge
Tina has read 4 books toward her goal of 30 books.

Wednesday, October 7, 2009

REVIEW for The Debt-Free Millionaire

Thank you to the wonderful Erika at John Wiley & Sons Canada for sending me this book!

TITLE: The Debt-Free Millionaire
AUTHOR: Anthony Manganiello
GENRE: Personal Finance
RATING; 4 Stars

The Debt-Free Millionaire takes an interesting look at how an average individual can go from being highly in debt - to becoming a millionaire. The author's main premise being that everyone can be a millionaire and this book spends approx 80% of its content on discussing various debt reducing (to eventually eliminating) debt in order to progress to saving, investing and accumulating wealth.

What I liked about this book is that the author is highly encouraging and acknowledges that debt is a very real part of life for many consumers today. I also thought his comments about how the "pay yourself first" may not be in the best interest of the average person in this day and age because of the fact that the concept of credit has changed dramatically since the "pay yourself first" suggestion was started over 60 years ago. There is a very deep look at debt and how many people get into it and there is alot of discussion about the debt traps and how to get out of it.

I liked this book because of its somewhat different approach to debt and I also thought it was extremely well written for the average layperson who is not into trying to decipher financial statements. I suggest this book for anyone who is in debt or overwhelmed by debt.

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