Debt-Proof Living: The Complete Guide to Living Financially Free

by Mary Hunt

Getting out of debt is only part of the plan. The reader learns how to give, save and build wealth using the Contingency Plan and Freedom Account along with the authors sound and proven principles.

Genres: Nonfiction, Finance, Self Help, Money, Personal Finance, Reference

311 pages, Paperback

First published January 1, 2000

Reviews

[Stephanie · Rating 4 out of 5]

I got the chance to listen to Mary Hunt at a conference and really enjoyed what she had to say.

Debt-Proof Living is hardly earthshaking; it's mostly like any other personal finance book in terms of what it has to say. Spend less than you bring in. Avoid debt like the plague. Give. Save and invest. Have a plan.

I do think this book offers some interesting ideas in one or two areas in particular: Mary has spent much of her career compiling and trying out ways of saving money. (She gained her reputation by creating an internet forum for people to support each other and trade ideas for economizing.) So she has lots of ideas for ways of using it up, wearing it out, making it do, or doing without. Some are a little extreme, and perhaps even penny foolish, but there's a great deal to be said for that kind of creativity and passion and focus on reaching one's goals. Second, Mary (like Dave Ramsey) points out the necessity of saving and giving, in whatever measure you can, even at your lowest. She is very insistent on tithing 10% first. She points out that two of our biggest internal obstacles in managing our money are greed and fear, and how giving and saving help us overcome those barriers. Finally, I have my doubts about Dave Ramsey's envelope system--it seems a little too vague and unsecure--but Mary's Freedom Account concept seemed to fill in. It's definitely some work, but (for me) an essential part of actually being able to plan spending my money. She is absolutely correct that people will never be able to conquer the tendency to get into debt until they plan ahead for emergencies and foreseeable expenses. (She seems to flesh out nicely here what Dave Ramsey's observations about Murphy gloss over a little.) Finally, I think she has some very sound ideas about other aspects of financial security, like insurance. So a good book, with some good ideas for implementing a workable plan.

[Sharon Paavola · Rating 4 out of 5]

Mary Hunt delightfully encourages her readers to give and save their money plus reduce their debt completely. She diligently reiterates her tips in ways that are easily understood, well defined, and lightly salted with humor. She knows her business since she has been in serious debt herself which is a consolation to anyone reading her book. Her plans sound very reasonable and she includes responses from people who have used them and succeeded. She explains financial terms with detail so the newest person can grasp how to handle their funds without sounding condescending or too simple for the more educated earner. Her heart is to help and the reader will feel that to the end of the book. I would recommend this to your high school student getting his/her first job, your college bound student as she/he applies to schools and is deciding how to finance his/her education, to engaged couples or newlyweds. Anyone who needs to manage their money without going into debt is a candidate for reading this book not just those who are already in debt. Those who owe money on many credit cards will find specific assistance in reducing their debt, becoming debt free, and finding ways to handle those unknown emergencies without turning to credit cards again. I highly recommend Debt-Proof Living!

I was given a copy of this book in exchange for an honest review by Revell, a division of Baker Publishing Group.

[Marta · Rating 3 out of 5]

Here's the thing. If in any way I knew this was going to be the "the Christians guide to.." I would never have picked up the book. I found her numerous references to God off putting. Last I checked God neither paid my bills nor went shopping with me at Sephora. That isn't to say that she didn't have great ideas (freedom account is SO smart!). But I can't possibly give away 10% of my monthly income bc then what would I eat? Who would pay the bills, etc? I found that to be an unreasonable request for someone who is trying to get out of debt. It's an admirable aspiration, but it should come AFTER you have financial security.

[Jalynn Patterson · Rating 5 out of 5]

About the Book:

Your fool-proof guide to paying off debt, planning for the future, and breaking free of our debt-loving culture.

About the Author:

Mary Hunt is the award-winning and bestselling author of more than 23 books, as well as a sought-after motivational speaker who helps men and women battle debt. She is founder and publisher of Debt-Proof Living, a highly regarded and popular consumer organization consisting of an interactive website, monthly newsletter and personal finance tools. Hunt's books have sold more than one million copies, and her syndicated daily newspaper column is enjoyed by hundreds of thousands of Everyday Cheapskate readers nationwide. She speaks widely on consumer finance topics and has appeared on shows such as The Today Show, Oprah, Good Morning America, Dr. Phil, Fox and Friends and Focus on the Family. She and her husband live in Southern California.

My Review:

Since 2008, we as a country has been under some heavy jeopardy regarding our debt and how to remain out of it. The book Debt-Proof Living: How To Get Out of Debt&Stay That Way, has been updated and released again to update us on our current status in this country and to hopefully shed some light on how to live debt free in a world that seems debt controlled at best. Mary Hunt had found herself, many years ago, under a mountain of debt and she shares with us how to be debt free and stay that way.

The author states in the book..."we need to see money not as power or prestige but as provision--God's provision for our physical and material needs." It is hard to stay out of debt these days, we have to charge groceries to our credit cards just to feed our kids sometimes---that's just terrible. The author outlines many things to help us get real with our debt situation and she shows us how to get rid of it and stay rid of it, in a manageable way. God doesn't want us to be in debt, its not healthy. You should be covering your credit card debt each month instead of letting it carry over month to month.

The author gives advice on many money situations you may find yourself in such as credit card debt, mortgage debt, student loan debt--she has all your bases covered. The main part of her book that I was interested in was the part on paying your mortgage off early. I decided that I am going to pay some extra on my payment each month to try and get the principal paid off sooner. Great book, Great tips!

**Disclosure** This book was sent to me free of charge for my honest review from Revell.

[Brandi (Rambles of a SAHM) · Rating 5 out of 5]

I first read Debt-Proof Living back in 1999 when it was originally published. I gained tools to not only manage our debt but ultimately it helped our family get completely out of debt. So why would I go back and read a book that I had already read? The simple answer is that our economic times have changed and with it our personal finances. I desperately needed a refresher course on all things related to debt-free living.

I was pleasantly surprised by this newly updated version of the original book. Mary didn't just rearrange things and slap on a new cover. She has extensively revised this book to take in the current economic situation in America and presented her time tested strategies in light of these new situations we find ourselves dealing with.

Reading the book through this time was a great reminder about things that we had let slip. There were also many areas that didn't really catch my attention the first time because they didn't pertain to our situation. But like many Americans we have entered into a whole new era and find ourselves dealing with things that we have never dealt with before.

If you have read this book before, I would encourage you to give it another look. I can almost guarantee that there will be things that still leap off of the page for you. If you have never had the pleasure of reading this book I recommend that you give it a try. It is my opinion that even the most financially sound family will still gain valuable insights into debt-proofing your lives from Mary's vast wealth of knowledge on the subject.

I received a copy of this book to facilitate my review.

[Tonya · Rating 5 out of 5]

Mortgages, credit card balances, student loans, car loans, and home improvement loans have become a way of life for the majority of us. And debt is putting not only our present at risk as we live paycheck to paycheck, but our futures in jeopardy as shockingly few of us have enough put away for retirement. Personal financial expert Mary Hunt wants readers to embrace the radical but simple truth that they don't need more credit or more stuff--that they can live their lives debt-free.
In her classic book "Debt-Proof Living," " "Mary reveals the secrets to getting out of debt and staying out of debt for the rest of your life. At no time in history has this liberating approach to a no-debt lifestyle been more desperately needed. Those who have been struggling to pay the bills or feel like they just can't make their finances work without taking on debt need this book. It can change their lives.

--My thoughts. Well this book is a radical thinking book. If you aren't ready for change, then it probably isn't for you. One thought was, one of the most powerful debt-proofing tools you have at your disposal is your attitude. What is debt-proof living? This is a great book to purchase for those graduating from high school or college or those that are struggling, or in addition to Dave Ramsey's course. I really think it is a great way of thinking!

I received this book from the publisher in exchange for my honest opinion.

[Mardell · Rating 4 out of 5]

I received a copy of Debt-Proof Living: How to Get Out of Debt and Stay That Way by Mary Hunt from Revell Publishers to review this month. It is a very informative book that was updated this year from the 1999 version. It is hard to believe but our world has changed so much in these few short years. More people, more debt, more toys and so many things that are designed to be thrown away make increasing demands on our incomes. The average college graduate is so encumbered with debt by the time they hit the work force it is difficult to picture all those student loans paid off.

Making more money is not just the answer. It is finding strategies to manage what we already have. This book is worth reading to find solid answers to this dilemma. Learning how to rapidly pay off your debts and how much to save are tools that everyone would benefit from when they start spending money. I recommend this book as a gift for the high school graduate. As we make changes in our spending habits we do have to determine what strategies one can live with. The most important step is taking that first step in assessing how the money is spent and the necessity of those changes!

After reading the book I checked out Mary Hunt's Everyday Cheapskate blog! It has some great ideas: http://www.everydaycheapskate.com/

[Erin · Rating 4 out of 5]

this is a book everyone should read!

[Kim Shope · Rating 3 out of 5]

A little out-dated, but still some good financial advice contained in this book.

[Umide Sacoor Ahnemann · Rating 4 out of 5]

This book, along with the YNAB app & website, helped me set my very first financial discipline structure. The first few chapters, where she outlines her "method", are as much about simple & sound financial advice as they are about tackling the drives and motivation that allow you to stay on track and have a sustainable, long-lasting stand. Halfway through, though, it becomes much more geared toward super-heavy indebted American horror stories - for a European, these sound absurd and off the rockets, but I guess across the pond it really is that grim. Either way, I am very thankful that this book found its way to my hands, serendipitously.

[Holly Underwood · Rating 3 out of 5]

Lots of good info in this book, especially if you're in debt and need to create better habits and get yourself out.

I only gave it three stars because I've heard it all before - however whether that's because I read a previous edition of this book ages ago, or whether it's advice I've heard from other sources I really can't say.

[Jane Potter · Rating 3 out of 5]

A female Dave Ramsey? Great starter-to-fiance read. A lot of American (not applicable in this country stuff towards the back that can be skimmed or skipped). Like the contingency and freedom accounts. Dave Ramsey call it the 'debt free snow ball' and the 'emergency fund'.

[Amanda Himes · Rating 3 out of 5]

The best tip was on setting up a Freedom Account, linked to a regular checking account, so that a person can set aside money each month for irregular bills (car repairs, property taxes, etc.) with spreadsheets to help in the planning.

[Meredith · Rating 4 out of 5]

As this book has been so helpful over the years for me. This time around I just went over the highlighted points and used the chapters I wanted to review and remind myself of tools I wanted to implement again. Always a good resource and one that I have bought and shared with family to help them.

[Jennifer (BTH Reviews) · Rating 1 out of 5]

Very little original practical advice (for the average Joe with limited funds) and a lot of preaching. The blurb should warn people this is a religious book.

[Laurel · Rating 4 out of 5]

Mary is an excellent writer, an inspiration and her "head-on-straight" when it comes to debt/money. I gave this 4 stars, not 5,just because I haven't been able to put her sage advice to good use.

[Tiffany · Rating 5 out of 5]

So useful!!!!

[JAE Monroe]

Took some notes on how to financially improve myself.

[Kasnya Berry · Rating 5 out of 5]

The absolute best book on taming personal finances and getting out of debt.

[Beth · Rating 4 out of 5]

I was pretty excited to see that this was available through NetGalley – even though I own an older edition in print that I have yet to read. While the fundamentals of debt-proof living don’t change, Mary has very, very slightly modified her advice on some of the topics listed in the books (like annual fees on charge cards) since the last time she wrote, so it will be interesting to go to back to my print version for reference and see what all has changed.

While I found Dave Ramsey’s approach to be quite inspiring both times I’ve read “Total Money Makeover,” I still felt like it was a little extreme for someone like me. Call me lazy, but the idea of picking up a second job never appealed to me, maybe because I used to have two jobs for a few years and don’t want to do it again. Mary lays down a more reasonable – but still tough love and realistic—approach to living within your means and actually managing your money, rather than it managing you. And when I do make purchases now, I feel better about them, because I know I’ve ACTUALLY thought about them, and I don’t need to feel guilty any more about them because I planned for them.

I am finally at a time in my life where I feel like I can work on paying off my debts, and decided before reading the book it was time to stop accruing any new debt, either. I think this book will help me stick to my resolve even more, because as she reminds me, spending money with credit is just taking away from my future paychecks. I loved the concept of the freedom account, and while I’d already partially funded something resembling a freedom account, this made me realize I need to go further with it. Funny enough, I had just taken out a personal loan to pay off a couple of credit cards before I read this book. This is something that Mary is unsurprisingly 99.9% against, “except in special situations,” and when I sat down and did the math, and proceeded to cut up the cards and set up a plan to close the account of the original credit card, I realized that having this book telling me that I’d done something that could be potentially stupid (which I knew when I did it) was another kick in the pants to be smart with it.

One of the highlights of the book is her explanation of student loans. I am pretty much the only person I know who understands how student loans work, but I still haven’t found a good way to explain it to others—now, I can just send them over to Debt-Proof Living! I think it should be REQUIRED READING for anyone considering taking out student loans.

I was also impressed when I looked at Mary’s website for the RDRP calculator and discovered that I could sign up for only $3.99 a month and under $30/year. Most of these financial sites seem so predatory, so it was refreshing to see something so reasonably priced. It was already worth it for some of the calculators, although who knows if I’ll keep it past another month. Either way, lots of great resources to complement the book.

[Jennifer Clausen-greene · Rating 4 out of 5]

Mary does a wonderful job really breaking down financial terms and giving us examples of them in practical applications. I think the most important thing a person needs to learn about debt proof living is knowing how interest rates affect your overall balances and Mary did a wonderful job explaining this concept. We live in a world where our 18 year old mini adults that have just left the nest and going off to live on their own for college for the first time are practically handed a credit card that they can charge thousands of dollars on. It is scary to think about the kind of financial troubles they can find themselves in right when they are starting life if they do not understand the principles on how credit cards work and how these companies make money.

I personally believe that if you have to have a credit card to buy it, you don't need it. Save your money so you have it for emergencies. You should always have at least 6 months bills put up into a savings account so when emergencies happen (flat tire, car wont start, new washer, etc) you have funds available to you without maxing out credit cards and stretching your budget further.

Mary's concept is similar to many others giving out financial advise and that is because what she is saying really works! Spend less than you make, have a plan, make a budget, tithing and having accountability. I know not everyone agrees with the tithing aspect, but for those that follow Christ Jesus it is a biblical aspect. Giving from what you have, not what you have left over!

The only negative thing I will say about this book is I feel at times she was throwing Dave Ramsey under the bus. I personally love his envelope system,especially for teaching my kids about being financially responsible. Its very visual and real showing how quickly money can go,especially in their spending envelope and the importance of tracking every penny you spend, which Mary also feels is important. I will say this though, working at a financial institute I understand the importance of having life insurance in place. Although not everyone agrees with the value of whole life, I have seen and believe it is a very valuable tool for those that can afford it. It is not designed for those who live paycheck to paycheck, but for those who have extra money left over that they want to put to work for them. These policies not only have an excellent death benefit that grows, but also cash that grows that can help offset the cost of college, weddings, first home purchase etc.

Overall I think this is a good resource for those that are starting out and need some practical applications to help them get out of debt and stay that way.

Disclaimer: I received a copy of this book for free in exchange for an honest review from Baker Publishing via Revell Blog Tour.

[Victor Gentile · Rating 5 out of 5]

Mary Hunt in her new book, “Debt-Proof Living” published by Revell shows us How to Get Out of Debt & Stay That Way.

From the back cover: Mortgages, credit card balances, student loans, car loans, and home improvement loans have become a way of life for the majority of us. And debt is putting not only our present at risk as we live paycheck to paycheck, but our futures in jeopardy as shockingly few of us have enough put away for retirement. Personal financial expert Mary Hunt wants readers to embrace the radical but simple truth that they don’t need more credit or more stuff–that they can live their lives debt-free.

In her classic book Debt-Proof Living, Mary reveals the secrets to getting out of debt and staying out of debt for the rest of your life. At no time in history has this liberating approach to a no-debt lifestyle been more desperately needed. Those who have been struggling to pay the bills or feel like they just can’t make their finances work without taking on debt need this book. It can change their lives.

Quite a few of us rent our homes from the bank and call the monthly payment a mortgage. College students graduate with ten years of paying back student loans. The credit card companies are constantly dreaming up new ways of enticing us to get and use their cards. It does seem that massive debt is a way of life and forces us to live paycheck to paycheck. Well according to Mary Hunt it only seems that way. There is a way to get out of debt and then stay debt free forever. In eighteen chapters Ms. Hunt looks at income, spending and debt and puts each element in its proper place. Then there is the additional element of tithing our ten percent to The Lord. That is a non-negotiable. Ms. Hunt outlines the plans that we need to implement such as pay off debt, save an emergency fund as well as pay cash and not charge.”Debt-Proof Living” is a must have book. You might want to hold it in a special place on your shelf you might be referring to it again and again. This is also a great book to give as gifts to family and friends. They will think of you every time they put it to use. I recommend it highly.

Disclosure of Material Connection: I received this book free from Revell. I was not required to write a positive review. The opinions I have expressed are my own. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”

[Ginger · Rating 5 out of 5]

Overtime, most of us acquire debt. For most of us, it is student loans, credit card debt, and mortgages. Then there are those like my husband and I that did the stupid not pay the bill debt that we are now trying to pay off. We live paycheck to paycheck. We don’t have a savings account. We want to get out of debt. So, I turned to Debt-Proof Living, by Mary Hunt.

Debt-Proof Living is a GREAT resource on what the different types of debt are, and how to overcome them. Mary in chapter 13, explains the “Hazardous Materials”, ie: Credit Cards, Charge Cards, and Debit Cards.
I can’t even begin to tell you the last time I carried cash. I almost never do. I am constantly checking the bank ap on my phone and doing the calculations to find out if I can buy that cup of coffee or not. Mary tells us in Debt-Proof Living that everyone should have one plastic card that they can manage well. Mary explains how to do that in Chapter 13.

My favorite chapter and something I myself am working on is tracking every stinking penny that comes in, and then, out. We are personally robbing Peter to pay Paul, and we shouldn’t be. I am learning, slowly, and it is like a duh, moment. But every itty-bitty penny adds up. I love how Mary using a dripping faucet for an analogy. We have money leaking out. A dollar here, 50 cents there. I know for us, it is the quick trip for a soda. Or, a candy bar. Or shoot, even the dollar burgers at Mcdonalds. In Chapter 5 she explains how to track your money. Using a card or notebook, writing down each time we spend even a penny. Now, unfortunately, I am not so sure my husband will do this. He just spends it like we have it. I don’t know if he will ever change. I take care of all of her our bills and let him know that he has only $xx he can spend.

I truly have liked this book. A lot of it really a no-brainer. But sometimes we just need to be knocked upside the head with a simple 2×4 to get it. She is a no nonsense writer. I give Debt-Proof Living, by Mary Hunt 5 stars.

[Laura · Rating 3 out of 5]

Title: DEBT-PROOF LIVING
Author: Mary Hunt
Publisher: Revell Books
August 2014
ISBN: 978-0800721459
Genre: Nonfiction / Money issues

Mortgages, credit card balances, student loans, car loans, and home improvement loans have become a way of life for the majority of us. And debt is putting not only our present at risk as we live paycheck to paycheck, but our futures in jeopardy as shockingly few of us have enough put away for retirement. Personal financial expert Mary Hunt wants readers to embrace the radical but simple truth that they don't need more credit or more stuff--that they can live their lives debt-free.

In her classic book DEBT-PROOF LIVING, Mary reveals the secrets to getting out of debt and staying out of debt for the rest of your life. At no time in history has this liberating approach to a no-debt lifestyle been more desperately needed. Those who have been struggling to pay the bills or feel like they just can't make their finances work without taking on debt need this book. It can change their lives.

Previously published in 1999, DEBT-PROOF LIVING is a classic that all singles and couples need to read in today’s debt-ridden economy. Ms. Hunt is a master at getting out of debt as she managed to pay off her out-standing debt and move on to a much better way of life.

Most of the money-saving tips in this book are really common sense to anyone with any financial knowledge at all. There is nothing new about what the author says and most of her suggestions fall into the basic financial planning category. Most of the same information was also covered by Larry Burkett and the current financial guru, Dave Ramsey in his Financial Peace courses that are so popular right now.

Summary: Good advice. Common sense. Heard it all before. But if you are in debt and are serious about climbing out, DEBT-PROOF LIVING or any of the above mentioned author’s books will help. Spend less than you make is the key advice. $14.99 print. $10.09 Kindle. 320 pages.

[Julie Gazca · Rating 3 out of 5]

This was a very helpful book on living debt-free and happier.
I had 2 concepts that I really will adapt to my life: the 80-10-10 rule, which states that you live off of 80% of your income, 10% goes to savings, and the other 10% goes to tithing or giving; and the rapid debt repayment plan, which allows you to pay off debt quickly by paying the same amount of debt month after month, paying off debt and then merging money onto the next debt on the list (it makes more sense if you've read the book, but think "debt stacking" or "debt snowball").
Hunt encourages you to hold yourself accountable for the purchases you make every day, and logging everything in, so you know where your money is going.
It took a while to read it, I admit, but it was important for me to absorb the information offered in the book.

[Sue · Rating 5 out of 5]

I was fortunate enough to have received an advanced copy of this book to review, and when I opened it I realised its an update of a book I already own!
Mary Hunt offers the reader strategies for getting out of debt and creating a financial plan that helps to keep you out of debt. As with most good personal finance books, the first step is to admit you have a problem and to see figure out how big a problem you have, then start to use the information to start the journey to a sensible debt level.
The ideas in the book are clearly outlined, and promote a realistic plan of action to get control of your finances.
This is a book that should be in every home, and you shoudl review it regularly to keep your focus on what your end plan will be.

[Mariejkt · Rating 1 out of 5]

"Debt-Proof Living" by Mary Hunt is a book that is about getting out of debt and investing. Now if you notice I did not say its about staying out of debt, that is one of my big issues with this book. She talks about getting out debt and says we should stay of it but then in one chapter she talks about how to keep a good credit score. If the main portion is getting out of debt then why do we care what our debt score is. Overall I still did not like this book, it seemed like a book that was rehashed likes its been written before. I had a hard time reading this book. I just don't recommend it.

I received this from Revell a division of Baker Publishing Group for my honest review and was not required to give a positive review.

[Christina Joyner · Rating 5 out of 5]

What a wonderful book for young married couples. Mary gives excellent advise on the needs of the man and woman in a marriage. How to work together to create a budget. Simple tips to keep track of your spending for a month so you will know where your money is going and how much to budget for. Her plan is easily. You pay off all your debt, have a fund for emergencies, have fund for annual expenses, etc. she also gives suggestions to stay out of debt once you are debt free. I love her Christian perspective throughout the book. She gives a list of sciptures concerning finances. She has made me think differently about how u treat my husband and now I include him in our financial planning. I highly recommend this book!

[Nidia · Rating 4 out of 5]

I read this book for the first time about 3 or 4 years ago and I revisit it often. This is an excellent book to help you develop a plan to get out of debt and take control of your personal finances. Very reminiscent of Dave Ramsey's approach but not as "strict" in the sense that Mary's plan allows for funding an emergency fund while simultaneously paying off debt and she suggests that one credit card handled responsibly is actually convenient to have while Dave's plan does not allow for either. Although written for the female audience, I recommend this book for men as well. The advice given in the book will work for everyone.

[Anna · Rating 3 out of 5]

I learned so much from this book! I read it in 2 days! Mary Hunt had some amazing ideas on how to get your debts down fast and easy but also to keep from ever being in debt again. I am so excited for this new month to start so I can start a lot of her ideas. She gave me a rude awakening of how money is not for spending, it is for managing first. Definitely recommend this book for any one seeking advice about their finances.