Financial Information
How to Get Out of Debt, Stay Out of Debt, and Live Prosperously: *(Based on the Proven Principles and Techniques of Debtors Anonymous)
- ISBN13: 9780553382020
- Condition: New
- Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed
With up-to-the-minute information . . . And an all-new preface by the author!
Out of the red . . .
• Do this month’s bills pile up before you’ve paid last month’s?
• Do you regularly receive past-due notices?
• Do you get letters threatening legal action if immediate payment is not made?
• Do the total amounts of your revolving charge accounts keep rising?
Into the black . . .
Whether you are currently in debt or fear you’re falling into debt, you are not alone. Sixty million Americans–from doctors to secretaries, from executives to the unemployed–face the same problem and live under the same daily stress. Based on the proven techniques of the national Debtors Anonymous program, here is the first complete, step-by-step guide to getting out of debt once and for all. You’ll learn:
• How to recognize the warning signs of serious debt
• How to negotiate with angry creditors, collection agencies, and the IRS
• How to design a realistic and painless pay-back schedule
• How to identify your spending blind spots
• How to cope with the anxiety and daily pressures of owing money
• Plus the three cardinal rules for staying out of debt forever, and much more!
This book is neither sponsored nor endorsed by Debtors Anonymous. A recovered debtor, the author is intimately familiar with the success of the Debtors Anonymous program.Millions of consumers have become trapped in a spiral of debt, but there is hope. If you wants 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 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–and fun.
Rating: 
(out of 82 reviews)
List Price: $ 13.00
Price: $ 7.39
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#2 written by L J Fox 1 year ago
Review by L J Fox for How to Get Out of Debt, Stay Out of Debt, and Live Prosperously: *(Based on the Proven Principles and Techniques of Debtors Anonymous)
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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. I remember finding the book in a bookstore (before Amazon.com existed) and I was embarrassed to buy it- that was the shame of being in debt. I was very scared because I was getting deeper into debt and not able to make even the minimum payments on my credit cards. I was borrowing (getting cash advances at ridiculous rates) from one card to pay the other. I sat down and read this book and it was tremendously comforting. I also found a local Debtor’s Anonymous meeting and attended the meeting the same week. This book and DA changed my life and after 5 years I have nearly tripled my annual salary and have eliminated my unsecured debt. Jerrold Mundis teaches you that those who work this program obtain a great deal of “abundance” in their lives. Mundis writes about the “miracles” that occur when you work this program and I have experienced them first hand. It is not a Debtor’s Anonymous sanctioned book, but everyone in DA has heard of it. I would have to say though that this book is not for everyone. The principles you learn in this book regarding the concept of not carrying any unsecured debt are excellent and everyone with a credit card should learn them. But this book was written for those who are in a crisis due to their debting. It will benefit problem debtors the most or anyone who is going down the road to deeper debt. Mundis is adamant about not giving up on yourself and not declaring bankruptcy. He guides you through all the consequences you may face due to your debting, such as judgments and court appearances. It is very comforting to learn about all these issues and how to deal with them, rather than live in fear of having collection agencies phoning day and night.
I’ve read some other reviews here that were critical of this book. As I stated before, this book is for those who are in a crisis due to their debt. This book was written in the 1980′s and has not been revised so the writing style may seem dated, but the principles are rock solid. There are excellent books available on subjects relating to investing and personal finance, but this book is a special book for debtors in crisis.
I am still using the principles that Mundis lays out in his book such as the spending record. I know exactly where every cent of my money is going and where I have a tendency to over spend. Even though I no longer debt I still have a tendency to be a spendthrift and the techniques I learned from this book help to keep me in check. I also have a spending plan- not a budget- that I update every six months and follow consistently. As Mundis points out, it is not about doing without and sacrificing. You will learn that you can take the vacation you want and pay cash for it. You can have everything you truly desire and not go into debt. You will develop an incredible sense of freedom that will enable you to live fully and successfully because you won’t be burdened by debt anymore. I’m sure all this sounds too good to be true, or even magical in a way, but it isn’t. If being in debt is causing a problem for you, you should get this book and read it and then follow the advice closely. Mundis walks you through all the difficult tasks you must face, such as totaling up how much you owe, contacting creditors to work out a payment plan, and not going one cent further into debt. I felt like I was the only one going through the hell of being seriously in debt, but he made me realize I was not alone and I could one day be debt free, too.
This book will teach you so much and it will also restore your confidence in yourself. It gives you the courage to face up to dealing with the mess you’ve made of your finances and it gives you hope that you can one day truly be debt free and living prosperously. -
#3 written by Anthony G Pizza 1 year ago
Review by Anthony G Pizza for How to Get Out of Debt, Stay Out of Debt, and Live Prosperously: *(Based on the Proven Principles and Techniques of Debtors Anonymous)
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Jerrold Mundis’ practical book “How To Get Out Of Debt, Stay Out of Debt, And Live Prosperously” not only describes handling money properly, but what power money can and must not provide to those having or needing it. Mundis’ precepts are easy to understand if not swift to accomplish. He acknowledges this in writing, “Anyone who has taken grade-school arithmatic or who can push the buttons on a simple calculator has all the technical mastery he needs to understand his personal money.” His steps: write each and every incoming and outgoing transaction into a weekly, then monthly account. Use those figures to create a budget to fit your lifestyle and repay your creditors, without hard-core sacrifice that only proves self-defeating. Know to the penny what you have, spend and owe. Do not debt, at all, just for today. Or, to quote Teddy Roosevelt, “Do what you can, with what you have, where you are.”The most interesting sections concern psychological and social implications associated with and leading to problem debting, and how to overcome and prevent them. Mundis encourages figuring out creative ways to handle money emergencies other than with a credit card. He encourages meditation, visualization, planning future successes beyond momentary highs or relief credit seems to provide. He explains how to handle the collection agency, lawyer, courtroom. To achieve this, he encourages creative list making, re-evaluation of supposedly nevessary material things (his section, “Keel The Bool” most notably here) or ideas that seemed zany. Most of all, he encourages dismissal of any emotions associated with money: it’s no mood changer, nor love declaration when spent, nor sell-out to materialism and selfishness when saved.His opening chapters, describing the types and warning signs of problem debting, were chillingly accurate and uncompromising. (“And everybody bounces a check now and then, don’t they? No. Most people without a debt problem hardly ever do.”) Mundis writes with the compassion and reassurance of someone knowing the issues of problem debting. His three things to remember when debt worry becomes overwhelming are among the most useful worry defusers I have heard. Yet Mundis also speaks with the zeal of the recovered addict, knowing the road to and from disaster and letting no one cross or return. His personal stories and case studies from Debtors Anonymous (including that of the young woman who tearfully gave up her American Express card), are sweepingly sad. Like all self-help books, “How To Get Out Of Debt” can only be judged successful if those reading it apply its precepts and achieve its promised conclusion. (Obviously, those for whom debting is not an issue probably do not read or review, these books.) Suffice it to say that Mundis has provided possible emotional and practical tools to achieve financial freedom, and has done so in re-readable, instructional style. Debtors Anonymous, quoted liberally as inspiration and support source, would do well to endorse this guide in its program. -
#4 written by Anonymous 1 year ago
Review by for How to Get Out of Debt, Stay Out of Debt, and Live Prosperously: *(Based on the Proven Principles and Techniques of Debtors Anonymous)
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At age 35, I felt like I never learned how to have a healthy relationship with money. This book helped me understand how to develop a healthy relationship with money, spending, saving, and earning it. My salary is 20% less than two years ago (chosen life style change), and yet I have more money now than then! This book is geared toward those with very large debt who have creditors knocking down the doors. However, even those of us who can still manage to juggle the debt around (you know who you are), without having a late payment (yet) will greatly benefit from this book.My financial advisor gave me this book when we began working together. After only 30 minutes with her, she told me that my net worth was badly in the red (yikes!) Gently, she recommended debt reduction BEFORE investing. This book opened my eyes to my relationship with money and spending. Only 4 months later, I have not incured new debt (credit card is in a jug of ice in the freezer – there for emergencies, but takes time to get to it – great for taking time to change your mind), I pay more than the minimum on my credit card, I’m paying off my student loans, putting money aside monthy to create a next egg, and able to invest in my 403b plan at work for the first time in 4 years! This on less money than two years ago!This book is based on the principles of Debtor Anonymous, don’t let that scare or intimidate you!, The premis is simple; Today, I will not incure new debt. It goes from there to include keeping close track of all spending, creating payment plans you can afford (not what the loan/bank is asking for), spending money well for yourself, and most of all, about impulse control skill development. That was essential for me!If you are ready to change your relationship with money, spending, saving, etc. Then try this book. What’s $7 when your debt is as big as yours?BTW, this book also helped save my relationship with my fiance. I would get into panic attacks over my finacial situation and freak him out. Now, I’m calm about my money and he sees me with new respect and admiration for my desire to change and improve that aspect of my life. He has begun to review his relationship with money as well and we have become so much more secure with each other as a result!Good Luck! -
#5 written by Michael Mendenhall 1 year ago
Review by Michael Mendenhall for How to Get Out of Debt, Stay Out of Debt, and Live Prosperously: *(Based on the Proven Principles and Techniques of Debtors Anonymous)
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I first read this book almost by accident in September of 1997. I was browsing through a bookstore out of town, and there it was. I thought $7 couldn’t hurt. I’ve tried everything else. Why not this book?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. It takes up very little time. It’s also very eye opening how much money flows right out the expense column every month. The benefit of this is it allows you to make adjustments and find out where you are bleeding. It’s not enough to guess. Until you write down everything, you will never fully understand where your money problems are. You can use a computer spreadsheet or you can do what I do which is write it down on old fashioned paper.Another lesson this book taught me is that you don’t need a credit card. Now there’s a revolutionary concept. If you really think about it, how many people in your life including yourself say, “I need a credit card for emergencies.” Hogwash! I’ve had two genuine emergencies in my life where I needed money and needed it fast. Well guess what? I had two choices, I could pay with a credit card or I could pay with cash. I paid with cash. Funny how many people accept cash as a payment these days. If you want to get out of debt, get out of the credit card habit. Use a debit card. I use my Visa debit card for all my amazon.com purchases, and it works beautifully. Same as cash.One more thing, if you use credit cards and you pay interest every month, do you realize you’re making the bank rich? Do you realize you’re working for the bank? Whether you like it or not, that’s true. Here’s another lesson. Look over your credit card balances right now and ask yourself out of all the money you owe, how much stuff do you have to show for it?Why do I give this book 5 stars? Well, I can divide my life into two time periods. The first time period was everything that happened up until september 14, 1997 which is the day I bought the book, and everything that has happened since then. I have no credit card debt at all since reading that book. I do have a credit card (okay, I cheat) with a $350 limit only to rebuild my credit. I pay it off every month. One word of caution, reading this book can be frustrating at times because you will come to the full realization that your attitude about money is completely wrong and that you are overwhelmed with debt that will take a long time to pay off. Relax. Once you start paying off your debt, it’s all downhill. It picks up speed as you go along. I know, I’ve done it. Thanks Jerrold Mundis for writing this book. I’ve saved thousands of dollars in interest because of it. - Comment Feed for this Post
Review by A thrilled reader for How to Get Out of Debt, Stay Out of Debt, and Live Prosperously: *(Based on the Proven Principles and Techniques of Debtors Anonymous)
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This book saved my life. Here is the thank you e-mail I sent to the author:
Dear Mr. Mundis,
I am writing to thank you for essentially saving my life. For the last 10 years, since I was 21, I have been drowning in debt — student loans, credit cards — and filled with anixety and depression. Every time I dug myself out, I did it by throwing every single penny I had into my debt, then needed to borrow again right away to pay for expenses that arose. Even though I make a decent salary, I haven’t had money to buy simple things like clothes because I am putting all my money toward debts. I have put off graduate school and other things I really want to do in my life for years while I try to deal with this. I am guessing I am not that unusual, but I never really talked to anyone about it until a few weeks ago.
Someone I respect a great deal recommended “How to Get Out of Debt, Stay Out of Debt, and Live Prosperously,” and I finished it in a single sitting. I was completely stunned when you said that I came first and my creditors came second — those words really changed my life. I put needed expenses and expenses that make my life fulfilling back into my spending plan and started from there, as you recommended. And I decided to work with a reputable credit counselor to help negotiate my horrific credit card interest rates down from 31% and 29% to 8% and 9%.
I now actually have a completely reasonable plan to pay off all of my debt in 4.5 years — and that assumes no increase in my income over that time, and I expect it to increase. I can also afford to take the prerequisites I need for graduate school and put $50 a month toward clothes. I can even put a tiny amount into savings for a contingency fund in case emergency expenses arise. I am again completely stunned.
Your book is so straightforward and blunt while at the same time completely compassionate. I was expecting scolding and shaming, which is basically what I’ve been doing to myself. Your advice was completely doable, and I really believe I am on my way to being debt-free.
Thank you, thank you, thank you.