Americans young and old are flunking their finances. A shocking 77 percent live paycheck to paycheck with no savings. And 43 percent of Americans have less than $10,000 saved for retirement, while 49 percent could cover less than one month's expenses if they lost their income. In the face of this bleak financial picture, bestselling author and finance expert Mary Hunt offers 7 Money Rules for Life. This no-nonsense and encouraging book gives readers the keys to get their money under control and get prepared financially for the rest of their lives. In her warm and engaging style, Hunt takes everything that she's learned over the past twenty years and boils it all down. Presented in a conversational style and readable in a weekend, this book offers applications for each of the seven rules as well as practical advice for how to recover from past financial mistakes. These simple, unchanging, basic rules work in every financial situation, for every income level, and for every stage of life. Money mastery isn't really that hard. 7 Money Rules for Life can help readers change their futures from uncertain to rock-solid with principles they can apply right away.
MY REVIEW-Like I said above, I have never been in debt. Nor do I plan to be. But you never know what life will throw at you. So my number one rule is to be prepared. Read up on things, find out what others are saying, etc. And this book definitely falls into that plan. Mady gives some very good rules we should all live by and that were a big help to me. I have written some of these down on post-it notes and posted them around the house. If you are someone who struggles with your finances or even has the possibilty of that in the future, check out this book.
My favorite rule in the book is spending less than you earn. This is a very basic rule but it is astounding how many people don't follow this standard! I mean, how hard can it be? Don't spend more than you take in. If I earn $500 a month, then I don't spend over that. And that includes my savings, bills, etc. I always put some away in my savings and that is another one brought up by Mary. There are so many good things in this book I couldn't believe them all. And seriously, when you look at them all, it shows how much we live outside our budget in America. Between credit cards and debt, we could all use these rules:) And believe me, I may not be in debt, but it could be right down the road.
If you are looking for a book that tells you basic rules and plans for your money, get this book. It is a nice book that is strict and tells it all. Excellent!!!
Available January 2012 at your favorite bookseller from Revell, a division of Baker Publishing Group.