"Debt-Proof Living": Book Recommendation

I am recommending a book about money management. No -- I am not getting paid or anything for mentioning this book. (And no, you can't click on it and really "look inside" -- that's just from the picture from Amazon.com. You could if you go to that website). I have not completed reading the book, so I am perhaps a little hesitant to rave about it, but I have read the first 5 chapters and so far, I am hooked. This book was recommended to me by a very smart friend who manages her money very well, so I decided to give it a try. It is called "Debt-Proof Living" by Mary Hunt. I got it at http://www.amazon.com/ for $11.55 and if you spend $25 then it qualifies for free Super Saver Shipping. This same friend also told me that all of Mary Hunt's books are good, so if you are trying to get free shipping, maybe you want to research some of her other books.

Of course, the truly frugal thing to do would be to borrow the book from the library or a friend......see? I still need help working on this frugal business. :)

I don't have a lot of debt (though I have had it in the past). At first I thought that maybe this book was more about getting out of credit card debt, but it is much, much more. It is about teaching you how to live frugally and to manage your money so that you can live on 80% of your income. One of the things I like most about it is that it is written in language that the average Joe can understand, whereas a lot of money management books are not as simply written.

Here is an excerpt from the book (from pages 60-61):

"Debt-proof living depends more on your spending habits than the size
of your paycheck......The more you practice restraint in your spending, the
easier it will become because, simply put, you're going to get better at
it.......

"Reducing your living expenses so they fit within 80 percent of your
income requires scrutinizing every expense and then finding the best way to
reduce it. By reducing everything a little bit, you may be able to avoid
eliminating any spending categories. This is going to require creativity
and discipline. And your reward for your willingness to endure temporary
sacrifice will be a light at the end of your tunnel, and I promise it's not a
train.

"I don't know what frugality means to you. The word has taken a
good bit of heat in the past few years as a buzzword for some economic
extremists. As a result, many people have come to view frugality with
disdain, assuming it demands a lifestyle based on dumpster diving and recycling
dryer lint. Believe me. That's not it. To me frugality means doing
whatever it takes to keep your living expenses within 80 percent of your net
income.

"Frugality is not about stuffing everyone into the same mold so we all
spend the same amount of money on things like food or housing. Frugality
is about personal restraint, discipline, finding the best value, and not being
wasteful. It's about making choices and understanding that if you say yes
to one thing you may need to say no to something else. And that is okay
because finally you are going to be managing your money in a way that will bring
you tremendous personal satisfaction.

"Because I live frugally doesn't mean I don't spend money. It
means I spend money thoughtfully and with a sense of discipline and
purpose. As my life is blessed and my income increases, 80 percent of my
net income increases as well. It's a beautiful thing."

If you decide to read this book (or if you have read it and already have an opinion), please share it with us. So far, I am really enjoying this book and I hope it will help get my family on a path toward financial security, like it did for my friend. Isn't that what we are all hoping for?