Debt is Slavery: and 9 Other Things I Wish My Dad Had Taught Me About Money - Michael Mihalik (Boek)

*****
Third printing, October 2010

Reviews

Michael's focus is definitely for anyone who is in debt and wants some no-nonsense simple systems to bail out of it.
-- Janine Bolon, founder of SmartCents Inc and author of 'Money...It's Not Just for Rich People' and 'Ditching Debt'

This book doesn't waste time making its points, and there are many very good points. Michael Mihalik is a good teacher, and Debt is Slavery is the kind of how-to manual that should be handed out like tracts at an airport.
-- MightyBargainHunter.com

Debt is Slavery is a great personal finance book, one of the best I've read.
-- GetRichSlowly.org

The book is lean and mean - it doesn't mince many words at all. If direct and clear advice is what you're looking for, you can't do much better than Debt is Slavery.
-- TheSimpleDollar.com

Debt is Slavery is packed full of content and it prompted me to action. This book made so much sense to me and I think it helped me realize my true priorities. Your book is making a huge positive difference in my life. Thank you.
-- BloggingAwayDebt.com


Book Description

In his book, Debt is Slavery, Michael Mihalik describes the 10 steps he personally used to gain control of his finances and pay off a large amount of debt.

The key to Mihalik's method is changing the way people think about money. Mihalik contends that people who do not change their perceptions about money will never succeed in improving how they handle their finances because all action is born from thought.

Mihalik's first technique is described in the title - equating debt with slavery. While this idea may seem extreme to some, people who are burdened with debt will definitely understand how borrowing money puts them in financial servitude to the lender. Successfully equating debt with slavery stops people from accumulating more debt, which is the first step towards recovery (similar to stopping the leak in a sinking boat prior to bailing out the water).

Mihalik goes on to describe other powerful ideas such as equating money with time (to eliminate unnecessary spending), evaluating the hidden cost of possessions, and avoiding the insidious influence of ubiquitous marketing. As the reader progresses through the book, their perceptions about money will transform until by Chapter 9, they will truly believe they can 'Save 50 Percent of Your Salary'. The book ends with an in-depth description of a simple way to plan your finances.

The author states in the introduction that because people are busy and do not want to be distracted by 'fluff', he has boiled the book down to the absolute basics. The result is a hard-hitting book that is 128 pages cover-to-cover. There is a gem on every page and even the busiest person can find time to read this powerful book.

From the Publisher
In the past, Americans were taught to avoid debt. Now, we are persuaded to embrace it. The process starts early--high school students receive credit card solicitations although their only income may be from babysitting or mowing the neighbor's lawn. We take on debt without realizing that doing so subjects us to financial servitude--a form of slavery--in which our bills determine when and how much we work, often at jobs we don't even like.
The result? U.S. consumer debt recently hit an all-time high of $2.35 trillion and millions of Americans are struggling to make ends meet.

Debt is Slavery offers hope. The book takes a unique approach to personal finance by focusing on changing the way people think about money. The author uses his personal triumph over paralyzing debt to illustrate 10 lessons that will transform the reader's relationship with money so they too can pay off their debt, reclaim their freedom, and lead more fulfilling and prosperous lives.


About the Author
Michael Mihalik accumulated a huge amount of debt by using credit cards to finance a lifestyle he couldn't afford. He struggled with debt for years before discovering that before he could change how he handled his finances, he had to change the way he thought about money.

He created 10 ideas and techniques that literally transformed his life. Today, he is debt-free and financially secure. His book, Debt is Slavery, teaches others how to use the same ideas and methods to gain control of their finances, pay off their debt, and experience more fulfilling lives free from the shackles of debt.

http://www.amazon.com/Debt-Slavery-Other-Things-Taught/dp/0978545702/ref=pd_sim_b_3