It is a powerful book written by an engineer who also decided to free himself from debt servitude. Most of what he learned about is how he thinks about money. If youre struggling with debt, theres no better starting place than this book. I was contacted a little while ago by michael mihalik. The book is lean and mean it doesnt mince many words at all. Whether youre looking for a book or two for yourself, or hoping to pick up a gift for someone else, theres bound to be something of interest on this list the automatic millionaire. Author michael mihalik talks about escaping credit card debt. And 9 other things that i wish my dad taught me about money by michael mihalik. Okay, i know, that sounds like a bold, rather kookish statement, but bare with me. Ive read it three times and i would put this in my top five personal finance books, possibly at number one. Mihalik discusses secured debt and unsecured debt, credit cards, mortgages, and more.
Aside from committing a criminal act, being in debt gives others the most power over you, the most power to limit your time and money. I much preferred the richest man in babylon over debt is slavery but it wasnt a waste of my time. Roth offers a useful view of what financial security looks like for a range of financial conditions. In his 128page book, he outlines the 10 steps he personally used to gain control of his finances and pay off a large amount of debt. Especially since both get rich slowly and the simple dollar gave it high marks. In debt is slavery, mihalik shares he has two main goals for the reader. Michael mihalik begins with the position that debt is slavery and therefore bad because it places limits on your freedom.
Michael mihalik is the author of debt is slavery 3. Debt is slavery is a great personal finance book, one of the best ive read. Debt is slavery takes a unique approach to personal finance by focusing on changing the way people think about. Finally, mihalik admonishes his readers to start now. Michael mihalik was inspired to write this little book because of his own struggles with debt after college. Even if youre borrowing to put yourself in a better position long term, youre still restricted by having that debt load hanging over you the monthly debt payments and so on. Michael mihalik is the author of books such as debt is slavery. The main theme of the book is that debt is slavery. You would have come across these ideas before, but this roundup is good because its simple and each lesson is important to staying out of debt and generating wealth. Its amazing to be included with such classic personal finance books as your money or your life and the complete tightwad gazette, let alone to be on the same list as stephen king. Debt is slavery and 9 other things i wish my dad had taught me about money. Debt is slavery download ebook pdf, epub, tuebl, mobi. Another recommended read which takes this thinking to the next level is debt is slavery by michael mihalik. Mihalik wastes no time or words in debt is slavery, which is packed with personal finance advice and focuses on changing the way people think about money.
Reparations for caribbean slavery and native genocide ebook. Debt is slavery by michael mihalik is a short little read that is packed full of thought provoking concepts. Debt is slavery 2007 debt is slavery recounts author michael mihalik s monetary transformation. Mihalik contends that people who do not change their perceptions about money will never succeed in improving how they handle their finances because all action is born from thought. Debt is slavery one of top eight books michael mihalik. He explains how to eliminate debt, minimize expenses, and create a financial plan. He also describes how thrift saved him twice while he was out of work for extended periods.
Michael mihalik, author of debt is slavery interviewed on. What is debt slavery and why are so many americans debt slaves today. Mihalik, an aerospace engineer when not penning books, proudly mentions several times throughout debt is slavery that he has overcome his early credit card. And 9 other things i wish my dad had taught me about money by michael mihalik. Byatt, the wood wife by terri windling, briar rose by jane yolen, and thomas the rhymer by ellen kushner have come in. In the books final chapter, mihalik lays down an approach to making all of these goals workable. This is one of several observations that mihalik makes in his book that makes so much sense, but goes against what a lot of people say every day. Mihalik is not a money expert, hes just a regular guy and has boiled his book down to the absolute basics and all of his tips are easily doable by anyone.
The most important takeaway from dave ramsey is his motto. Kindle ebooks can be read on any device with the free kindle app. The first is that debt and especially credit card debt makes you into a slave. Debt is slavery by michael mihalik debt is slavery is a deceptively simple book. Debt is slavery makes the case that all debt is bad because it restricts your freedom. In his book, debt is slavery, michael mihalik describes the 10 steps he personally used to gain control of his finances and pay off a large. Its a short book 123 pages soaking wet but it was written that way on purpose according to the author. Achetez et telechargez ebook the total money makeover. Ramseys advice is permeated with his christianity, but you can get a lot out of this book even if youre not religious. Mihalik, an aerospace engineer when not penning books, proudly mentions several times throughout debt is slavery that he has overcome his early credit card debt and is so financially savvy now he was able to take six whole weeks off in order to write his book. Mihalik opens the book with what ive started to call the dave ramsey argument. But im not the first personal finance blogger to have found it. No debt of any kind, not even debt that you could pay off if you wanted to.
Michael mihalik, author of debt is slavery and 9 other things i wish my dad had taught me about money. This site is like a library, use search box in the widget to get ebook that you want. Librarything is a cataloging and social networking site for booklovers. The key to mihaliks method is changing the way people think about money. October mist publishing debt is slavery michael mihalik. And 9 other things i wish my day had taught me about money. Click download or read online button to get debt is slavery book now.
The end result was the following list of 11 great books about money. Michael mihalik is a good teacher, and debt is slavery is the kind of howto manual that should be handed out like tracts at an airport. This book explores what happens to hbs graduates when they join the real world of business. Borrowing to put yourself in a better position for the long haul isnt acceptable either because of debt hanging over your psyche. As a slave to a lender, you can never truly be free with debt. Mihalik is not a money expert, hes just a regular guy and has boiled his book.
Michael mihalik, author of debt is slavery interviewed on money blogger podcast click to play. The content is a bit dated but the principles are sound. In his book, debt is slavery, michael mihalik describes the 10 steps he personally used to gain control of his finances and pay off a large amount of debt. Reviews michael s focus is definitely for anyone who is in debt and wants. For instance, the author includes information such as income producing assets as compared to income consuming assets, earning money without spending time, and saving at least fifty percent of your salary. There were a couple things that intrigued me about this book. Michael mihalik do you ever wake up in the morning and groan, i dont want to go to work today. The solution is no debt of any kind, not even debt that you could pay off with. Then you think about all the bills you have to pay, drag yourself of a. The book is based on 2 interviews of graduates from the class of. Michael mihalik uses his personal triumph over paralyzing debt to illustrate 10 lessons that will transform the readers relationship with money so they too can pay off their debt and experience more fulfilling and prosperous lives free from the shackles of debt. Best financial literacy books to help get out of debt debt is slavery.
Amazingly, there was very little overlap in their recommendations. For instance, the author includes information such as income producing assets as compared to income consuming assets, earning money without spending time, and saving at least fifty percent of your. The following article provided by michael mihalik author of the book debt is slavery writing for the get rich slowly website posted by j. The start of the book is michael mihaliks personal experience with going into deep credit card debt, then pulling himself out of it through hard work, overtime and thrift. This book is short, to the point, and packed with lots of great advice. Until i read it, it had the look and feel of a dollarstore coloring book. I wish that i could say i enjoyed reading it, but i didnt. Recently, i was leafing through my copy of michael mihalik s excellent personal finance book debt is slavery one of the very few ive actually kept i was working through something of a problem in my mind, one that i wasnt quite sure how it fit in. Debt is slavery and 9 other things i wish my dad taught me about money by michael mihalik shares the various ideas that the author learned along his journey on breaking free to financial freedom. Reviews michaels focus is definitely for anyone who is in debt and wants. The author doesnt mince words and gets right to the point. Michael mihalik s debt is slavery is a short book that has a ton of great insights packed into its 123 pages the second post in this series deals with the importance of money in our lives.
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