Reading the book entitled “The Debt Squeeze, How Your Family Can Become Financially Free” by Ron Blue has given me new perspectives on debt. (I got a second-hand copy from Book Sale for Php10.) Who wouldn’t want to live a debt-free life, right? While debt-free living is possible, having some debts isn’t bad at all. As long as you have the means to repay your debts, you should be fine. Or so this book claims.
What I liked about the book was that the author presented debt in a casual way. He also explained the different kinds of debt in layman’s terms. And because he’s a Christian, he also included some verses in the bible conveying God’s words on material wealth. The author also shared some real-life finance stories, how-to-get-out-of-debt tips, borrowing rules, and other money principles. Even if most of the concepts he explained were not new to me, they have refreshed my memory on what it really takes to be debt-free and eventually, financially-free.
What more can I say? The Debt Squeeze may have been published in 1989 (I was only a primary schooler at this time!) but the wealth of knowledge and information it contains is still relevant to this day. The book is both enriching and enlightening. For instance, I can now differentiate between “credit” and “debt” confidently. I can also do the same with “interest charge” and “interest rate.” Ang yabang ko, diba? Hahaha. Kidding aside, I think it’s a must-read for people, especially married couples, who need some serious guidance when it comes to managing their finances and dealing with their growing debts. Reading this book could also help those people who can’t resist a clothes sale or an alembic bass purchase even though it’s not included in their budget.
I promised to lend the book to the hubby and my siblings so they’d learn a thing or two also about debt and how our family could become financially-free in the future.
Now, this may sound cliché to you, but I think this book qualifies to being the best Php10 I’ve ever spent! Haha.
Have you read any personal finance books lately? What did you learn from it? 🙂