The Mission:

Complete 101 preset tasks in a period of 1001 days.

Thursday, June 18, 2009

#15 Nonfiction books: Debt Free on Any Income by Tracy and Lyle Shamo


This book has special meaning to me because my Aunt and Uncle wrote it. Tracy is my mom's sister.
The book has been out for a while, and I've been wanting to read it since I knew they were writing it, but I just finally got around to doing so.
And I was not disappointed.
There is a lot of wonderful and practical advice for creating a budget and paying off debt. We have been very fortunate to not have a whole lot of debt. We had a little bit on a couple credit cards, but I was able to pay those off right away. The best thing is though, after performing a few of the calculations in the book (using their software), we realized that we could pay off our cars and the house in about 10 years! Isn't that amazing?! And we were planning on staying in this house at least that long anyway. To think, when we get to selling our house, 100% of the money could be cash towards a new house! That idea is just so energizing!
Anyway, this book is a pretty quick read - I finished it in only two days since there are a lot of charts and numberical data and the meat of the book is very concise with little to no fluff. It is great advice for everyone! I'm thrilled about the changes that we can make to our lives to save additional money and pay off all our debts. And it won't even change our standard of living hardly at all. It will just make it more organized!
I recommend this to everyone!

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