Description

A Best Bet Self-Improvement Book "... bracing, snappily written.”
— People Magazine
The Book
The goal of Good Debt, Bad Debt is to make clear how debt and spending affect your financial life. The use of leverage (debt) without regard to value is a plague in our nation. Good Debt, Bad Debt is a lighthearted look at the dark side of debt; the goal of the book is not to poke fun at those in debt, but to get people thinking about the problems of leading a debt-driven life. The book is first and foremost about understanding the cause and effect relationship between spending and wealth, and how you can learn to live a profitable life.


As the title suggests, Good Debt, Bad Debt, teaches you how to tell the difference between constructive and destructive debt. It's not always obvious! While houses are sometimes considered good debt, a house payment that keeps you from saving for retirement may not be beneficial. A car payment that goes to a finance company at the expense of contributing to a Roth IRA may not be beneficial, either (especially while the car depreciates $250 a month as well!). And the list goes on. Good Debt, Bad Debt helps you:


Look at your TOTAL financial picture and honestly evaluate the effect of debt on your life.
Learn to stretch your time perspective.
Understand how debt takes more than just your money. (The "Four Debt Effects.")
Get a grip on emotional spending.
Handle the big three: Houses, Spouses, and Cars.
Control your burn rate.
Learn to understand and appreciate delayed gratification.
And more!