Book Review: Pay it Down by Jean Chatzky
- Posted by JvW on July 11th, 2007 filed in Uncategorized
This book has the premise of getting out of credit-card debt by putting an extra $10/day toward your bills. If it sounds like a simple solution, that’s because it is. The book is very much a beginner’s guide to paying down debt. While it does have some good suggestions, I would have enjoyed it more if I picked it up a year ago.
Putting $10/day aside for debt sounds like a bit of a sacrifice to make until you consider how much it adds up to be. About $300/month. Which equals (according to Jean’s math) a payoff of $8000 of debt in three years (assuming 18% interest). Personally, I choose to be much more aggressive in my debt payoff. If I only put $10/day toward my more-than-$8000 debt, I would be paying it off forever.
However, there were a few tips I plan to use to help me reach my goals faster:
- Consolidating student loans & student loan rate discount possibilities loanconsolidation.ed.gov
- Shop around for car insurance
All in all, if you’re starting out, pick up this book. If you’ve already tightened the belt on your budget, there’s not much for you here.
July 13th, 2007 at 7:52 pm
I saw the link to your blog on the nest and decided to check it out. I have been looking for a good book on budgeting so I thought I would give this one a try! Thanks for the recommendation!
PS
I bought it on half.com for 75 cents. Talk about a bargin!
January 4th, 2012 at 8:24 pm
You are my inhalation , I own few blogs and often run out from to post .