Some day I will write a book (or two or three). One will be about our journey to get out and stay out of debt (and one might be about my adventures in life including a year in the Amazon as a missionary, having Juan Berenguer [former World Series pitcher] work as a roofer on my house, and the time I was an extra in the Christian Slater film “Untamed Heart, but I digress…). The book about our journey to financial freedom will outline the attitudes that kept us broke, how we organized ourselves including making a spending plan and expense tracking, and common financial temptations and how to overcome them. Until my New York Times bestseller is written and hits the market, I am going to recommend two other books that will help you in your journey to financial freedom.
My top pick for a money book that will change your life is Debt Proof Living by Mary Hunt. Mary addresses your money mindset, but gives practical step-by-step instructions on how to get organized in a way that anyone can do. You won’t have an excuse for staying in a financial mess once you read this book.
Many folks rave about Total Money Makeover by Dave Ramsey. I only read it recently and enjoyed it, but prefer Mary Hunt only because she gives some step-by-step instructions that Ramsey assumes you are able to do – and frankly, when we were in debt I needed hand holding. Ramsey’s book talks through 6 baby steps that take you from broke to retired wealthy because you make smart decisions along the way. Inspiring and will help you create a vision for a better future than you can see today.
For all who wonder how we got out of debt, what did we do, and how can you get started yourself, check out these books from the library. Just having the books in your hands won’t change your life, it is actually DOING WHAT THE AUTHORS RECOMMEND that will make a tremendous impact. Go do it. I dare you.
Your turn: Which books or online resources have been a tremendous help to you in your journey to financial freedom?
No way about the Untamed Heart movie. My cousin and I use to enjoy watching that!
Just ordered Debt-Proof Living: The Complete Guide to Living Financially Free (Debt-Proof Living (Paperback ) on ebay for $3.50–$11.55 on amazon.com, already starting my new frugal ways!
We took Dave Ramsey’s FPU – Financial Peace University- class at our church and are now debt free. It may have been the best $100 we ever spent. I’d highly recommend this course. You can get the whole kit cheaper on ebay. It includes cds so you can listen to all the lectures at home. If you do take a class at a church, you can repeat the class for free for the rest of your life.
Doreen – when you say you are debt free, does that include your mortgage? If so, can you share the secrets to paying that off so quickly?
Have you read Live Your Life for Half the Price: Without Sacrificing the Life You Love (Debt-Proof Living) by Mary M. Hunt
I will be reading the first one per your recommendation and wondered if you had read this and if it would be a good follow up or addition?
Martha – I have read Live Your Life for Half the Price. Debt Proof Living is the how-to get out of debt and Live Your Life for Half the Price is money-saving tips and tricks. I’d read Debt Proof Living first, then Live Your Life for Half the Price.
Thanks for the recommendation. I didn’t find this Mary Hunt title, but I did find Debt-Proof Your Marriage. I’m always looking for great recommendations. I enjoy Dave Ramsey, so can’t wait to see what Hunt has to say! Thanks!
Wow I just ordered Debt Proof Living on Amazon, along with a 3.99 Corduroy Christmas Book and one of my favorite movies “The Horse Whisperer” I wanted the super saver shipping…I had promotion $$ from magazine subscriptions ordered through amazon, so my total was $0 – zero..What a kick!
Plus the magazines I ordered (special promotion – cheapest I’ve ever seen) ended up being $.25 to $.50 per month…at that price my goal is to get one good coupon out of each and then they will be free!
Thank you Carrie!!! You’ve changed the way I shop, saved me $$$, given me a way to gather great free items for the food shelf and get items that are luxury’s (candles, books, movies etc) in these tough economic times. I’ve been rolling over RR’s and ECB’s – what fun.
Also, I started a college savings acct for my 4 year old son and all the rebate checks go into it.
Sorry I jabbered on so long, but you’ve made a huge difference in my family!
Thank you.
Does anyone have any ideas on how to pay off a mortgage faster?
I’ve used the snow ball method that is listed in most of the getting out of debt books. I learned about it in Larry Burkett’s book “Debt Free Living”. He has written some really good books about how to get out of debt and stay out of debt. I initially found it at the library and then purchased a copy so I could highlight and earmark it. It has some phenomenal ideas that I was constantly saying to myself, “Duh, I should have known that!” and “That sounds easy enough!”
Doreen, thank you for posting about Dave Ramsey. I have done Financial Peace University online and paid $99 for that and then because of what it did for our finances with just me doing it, I asked my husband to do it with me at church too and we paid again. I’m ok paying twice so far, but I told my husband last weekend that I think it’s good to revisit the class in a year or so because we’ll be at a different place in our financial journey. And even the 2nd time for me I’m getting new things because I’m with a different group of people. I will check out Mary Hunt too because I’m always searching to see if I can pick up new tips. No doubt if we just really dug into the Bible and studied for ourselves what it has to say about money we’d have the ultimate guide!
Sorry…when I said we were debtfree, I should have added “other than our mortgage.” Dave Ramsey has you do things in steps. First you get $1000 in the bank for an initial emergency fund. Then you do a debt snowball to get rid of your debt other than a mortgage. Third, you fully fund your emergency fund by getting 3-6 months of income saved up so you are prepared for a BIG emergency. Only after that, do you start putting extra away on your mortgage, in his plan. We are on the third step now…saving up 3-6 months of income.
These are the tips I have for paying off the mortgage faster.
1. Contact your lender to see if biweekly payments are an option.
2. Send in an extra mortgage payment when you can afford it.
3. Divide your monthly mortgage amount by 12. Take that extra amount and add it to your monthly mortgage payment.
I love the Movie “Untamed Heart” I am going to have to see if I can find you next time I watch it . My husband cousin ( our neighbor) was the Boom Boy in the movie!
Dave Ramsey’s Financial Peace University was the key for us getting more financially grounded. I had read Mary Hunt’s books quite a few years and implemented her techniques but lost steam. Dave Ramsey is so in your face and you can listen to him on the radio daily to stay motivated and on track.
You should write a book! It sounds like you have some fantastic stories of your journey (so far) to tell!
I highly recommend taking Financial Peace University. It is offered at hunderds of locations, dates and times. You can find a class by putting in your zip code at daveramsey.com. Going through this class offers 13 weeks of accountability and changed the way we communicate in our marriage & think about money. We no longer fight about money! Many employers are now offering it to all their employees also, including Wal-Mart.
I am currently reading Your Money or Your Life by Vicki Robin and Joe Dominguez. It teaches you to think about money in a different way, thus transforming your relationship to money and spending. I find the book liberating. Many of the ideas were not necessarily new to me, but the force of the arguments and the stories of success are inspiring.
I think the key piece of solving your debt crisis is to ensure you do not discount the condition completely. You must analyze the problem and resolve how to answer it. Talking to people with economic knowledge (be it family, a close friend, or even employees at the concerned credit card company), can bring about viable solutions. Timing is of the essence, so you must be fastidious; nevertheless taking the necessary steps to negotiate a settlement can sometimes be the advantageous decision.
(Found your site via the article on good credit in Yahoo Finance). I’ve done a lot of work on my own personal finance, and also teach “stewardship education” in my religious denomination. There are many good books out there, but for me the very best was and remains YOUR MONEY OR YOUR LIFE. I first learned of it by participating in a six-week study group in my small town. Later I led a YMOYL group. Now I’m re-reading the book after several years, and am back to tracking all my expenses to the penny. Nothing beats staying conscious!
Thanks for the book reccomendation, Carrie! I have been reading Mary Hunt’s column for about 6 years, and love it. I will have to locate this book of hers. And by the way, I really love the first paragraph of your article! :-D Funny. I have a copy of “Untamed Heart”. Now you’re going to force me to watch it again this weekend and search in vain for you. Thanks. LOL (just teasing) Keep up the great work!!!