Debt Free for Life Review

A few weeks ago, there was a free book download available called Debt Free For Life by David Bach.  At first, I wasn’t going to download it because our family is already trying to be frugal and keep our debt minimal, but then I decided that it might be interesting to read and see what David Bach had to say about being debt free.

After reading it, I was actually really impressed and motivated by the book. There are so many great debt-free tips he gives. And it can be applied to anyone – those who have a lot of debt and those who only have mortgage payments.

Here are a few highlights from the book that were interesting:

Bach mentioned that you have to truly understand why you want to get out of debt and then keep that debt-free-for-life mindset. It may seem obvious, but sometimes it goes much deeper than you realize.

Once you recognize why you want to be debt free, then you have to stop piling up debt. Don’t spend money on things you don’t need. And try to spend less than you earn. You’ll definitely need a debt-free mindset to do this.

Another tip Bach mentioned is start organizing your debt by writing it down. Make sure to include everything such as credit cards, mortgages, car loans, student loans, and any other personal loans. He said that adding up your debt isn’t any fun, but it is helpful. In addition to writing down your debt, there is an online program he recommends called Debt Wise that can be of assistance to help you get out of debt.

The last thing I’ll mention from this book is the information about home mortgages. This chapter interested me the most. Who wouldn’t want to pay off their mortgage as soon as possible? Bach goes into detail about making biweekly payments instead of a monthly schedule. Being able to do this depends on having the right type of mortgage, but you could pay off your mortgage at least three years earlier.

Bach points out that the debt free process isn’t about the result; it’s about the journey. As you begin to get out of debt, you will begin to feel better, less stressed, and a little more joyful.

There is so much more to the book than what I mentioned, so I recommend reading it. The book isn’t available to download for free anymore, but you can purchase it from Amazon.com for $10.70, Borders for $11.99 or Barnes & Noble for $10.80.

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