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Educating yourself on money management can get you out of debt quicker.
If you’re facing a big pile of debt, it may feel almost impossible to overcome it. It can seem as though, in order to live your life, you’re going to have to constantly hand money to the banks until the day your last days. It can be depressing.
But it does not have to be that way, you do not need to be shackled with debt. Here are the debt free books that will help you get out of debt.
Best Personal Finance Books For Beginners
To better understand your debt and how you got there in the first place, you need to evaluate your personal finance. Here are the best books that you should read to better understand your finances.
1) The Total Money Makeover A Proven Plan For Financial Fitness – Dave Ramsey
The Total Money Makeover is one of my favorite books, and I totally recommend this to women who are new to money management. This book outlines the “baby steps” that Dave Ramsey recommends when you are just starting and wanting to get out of debt. The “baby steps” involve hard work and perseverance to be debt-free.
2) The Richest Man In Babylon – George Clason
The Richest Man In Babylon is full of great wisdom. It is a short read, but it emphasized self-control and discipline when it comes to spending money. This book was written from a Babylonian perspective and used parables and principles to illustrate financial management’s importance. The best nugget of wisdom you can get from this book is never to spend more than nine-tenths of your earnings if you don’t want to go into debt.
3) Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence – Joseph R. Dominguez and Vicki Robin
The Your Money or Your Life is not your typical finance book that focuses on self-discipline. Instead, this book emphasizes choice, freedom, and fulfillment. The authors teach that our financial situation is a reflection of our inner self and our deepest values and beliefs. Therefore, if you want to change your financial situation, you must first deal with your beliefs and become conscious of your money’s movement, so it provides you maximum fulfillment.
Best Debt Free Living Books To Get You Out Of Debt
When it comes to paying off debt, here are the best book suggestions to help educate you about money management and getting out of debt.
1) The Spender’s Guide to Debt-Free Living: How a Spending Fast Helped Me Get from Broke to Badass in Record Time – Anna Newell Jones
The Spender’s Guide to Debt-Free Living is written by a popular blogger Anna Newell. The book is all about the author’s journey to debt freedom. She shares how a “spending fast” helped her paid off $24,000 in only 15 months. This book showed a detailed step-by-step guide on how to do a Spending Fast and get out of debt. Anna wanted to inspire people and show them that they, too, can achieve a debt-free life.
2) Rich Dad Advisors: The ABCs of Getting Out of Debt – Garrett Sutton
The ABCs of Getting Out of Debt is written by the best-selling author Garrett Sutton, who decided to explore debt’s psychology and health effects. He talks about the difference between “good debt” such as real estate and “bad debt,” such as discretionary spending on depreciating assets. In this book, he shared tips on dealing with debt collectors, avoiding credit scams and building good credit, and his insights on legal matters. These legal matters include how joint ownership affects consumer debts and outlines veterans’ provisions, holders of student loans, and IRS debtors that can help them navigate debt.
3) Debt Free Masterplan – Samuel Mordue
In this book, the author emphasized that your financial problems will NOT solve themselves and that you must take action. Therefore, he shares the debt-free masterplan that can get you out of debt. The plan includes How To Quickly Break The Vicious Cycle Of Debt, How to Start Saving, 8 Do’s & Don’ts to Become Debt-Free, 3 Money Mistakes That Will Land You in Crippling Debt, How To Quickly Get Out Of Debt In 8 Simple & Easy Steps, 7 Money-Saving Tricks For Everyone, 10 Proven Secrets of the Truly Wealthy, and How To Start Budgeting Like A Pro.
4) Get Out of Debt Now – Allen Carr
This book applies Allen Carr’s Easyway method to the problem of debt and the addiction to spending. The technique starts with adjusting our mindset to show what really gives us pleasure in life. Then it moves on to practical methods for removing the problem, measuring your spending and income, making a plan to balance the books, reducing your spending, paying off your debts, and increasing your income.
5) Debt-Free Blueprint – Laura D. Adams
In this book, Laura D. Adams walks you through the process of getting out of debt by using helpful examples and often-overlooked techniques, strategies, and programs. You will also learn how to make financial decisions with confidence and feel secure about your financial future.
6) Maxed Out: Hard Times in the Age of Easy Credit – James Scurlock
James Scurlock’s book is basically a muckraking book about the credit card industry. Reading this book will really make you want to get out of debt as quickly as you can. He details debt collecting practices and how debt collecting is more about profit than doing what is right. This book is more of a documentary-style reading, but if you want to increase your knowledge of the credit industry and debt, this book is for you.
7) Debt-Free: 9 Step System to Get Out of Debt Fast and Have Financial Freedom – Ashton Jude
If you are looking for step by step guide on how to get out of debt, then this book is for you. Ashton Pereira shared his 9 step system in this book, which is practical, clear to follow, and gives you a great mindset to help you take action and find your way out of debt.
8) Say Yes to No Debt: 12 Steps to Financial Freedom – DeForest B Soaries Jr.
This book uses real personal examples to help you focus on handling your finances and investing later in life. It is full practical advice on how to recover from excessive credit card debt. The book also contains bible quotes that will inspire you.
9) How to Get Out of Debt, Stay Out of Debt, and Live Prosperously*: Based on the Proven Principles and Techniques of Debtors Anonymous – Jerrold Mundis
Jerrol Mundis shares a simple, proven-effective formula for freeing yourself from debt. His method is not something you have not heard before, but he puts it from an informative and inspirational angle. He emphasized on stop borrowing money and stop using your credit card. Additionally, he focused on having a spending plan that allows you to live comfortably.
10) Debt Cleanse: How To Settle Your Unaffordable Debts For Pennies On The Dollar (And Not Pay Some At All) – Jorge P. Newbery
Best Books On Debt Consolidation
Debt consolidation is one of the popular ways to take care of your debt. These debt consolidation books will help you understand the pros and cons of debt consolidation.
1) The Debt Consolidation Myth: A Proven Method to Help You Get Out of Debt While Still Living Your Life – Jesse Mecham
In this book, Jesse Mecham shares his life-transforming and wealth accumulating secrets. You will get quality, genuine and sincere step-by-step guidance on destroying debt once and for all. He also discusses how debt consolidation is a scam that doesn’t help you in the long run. So, don’t consolidate until you read this book.
2) Debt Consolidation to Payoff Credit Card Debt: A Complete Debt Consolidation Guide to Become Debt-Free: The Debt Consolidation Guide – Paul Paquin
Paul J Paquin reveals in this book the misconceptions about debt consolidation, the dangers and methods on how to consolidate debt without hurting your credit scores. He shares a very practical approach to better understand credit and how the banks take advantage of consumers. In this book, you will also learn how to stay clear of the pitfalls and create a plan that benefits you, not the bank.
3) The Debt Consolidation Cure – Richard Cooper
In this book, Richard Cooper was very clear on the different debt relief options available that will allow you to make the right decision for your family. He will help you understand debt consolidation loans, bankruptcy, consumer proposal, aggressive debt roll-up, credit counseling, and debt negotiation are viable solutions.
Best Books On Debt Investing
If you have never heard of debt investing, these books will help you grasp what it’s like to invest in debt.
1) How To Invest in Debt: A Complete Guide to Alternative Opportunities – Michael Pellegrino
If you are looking for alternative investment ideas, then this book is for you. The author will show you how you can profit from personal and corporate debt, including municipal tax liens, defaulted credit card debt, discount promissory notes, mortgage foreclosures, and microloans. Also, the book provides practical information and advice that will help you capitalize on these investments.
2) Invest in Debt – Jim Napier
In this book, Jimmy Napier promises to teach you more than just how to invest in debt. He will show you a whole new way to think about investing and offers philosophical tidbits along the way. Examples of restructuring debt where both the lender and the borrower win are provided. He even shows you how you can come out further ahead by helping others manage debt. As a master in negotiation, he will also teach the basic negotiation skills for buying and selling mortgages and other debt instruments.
3) Invest Like a Bank: How to Make Millions From Other People’s Debt.: The Best 101 Guide for Complete Beginners to Invest In, Broker or Flip Real Estate Debt, Notes, and Distressed Mortgages Like a Pro – Beaux Blast
If you’ve been eyeing real estate investment but don’t have the time or inclination to do labor-intensive renovations and regular maintenance, you should read this book. The author goes into detail on how to go about mortgage note investing. He also promises that even if it’s the first time you’ve heard of note investing, you can get right up to speed with this complete beginner’s guide that will lay out all you need to know.
Which of the best debt free books is your favorite?
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