Mitigate Debt With These 4 Must-Read Books

Mitigate Debt With These 4 Must-Read Books

February 29, 2024

The lack of financial education is often the main reason behind debt problems. Here are some awesome books that help grow your financial knowledge and give you some necessary tips and tricks to manage your debt.

Americans are drowning in credit card debt. Families in the U.S carry $1 billion in card debt, Equifax, one of the three credit bureaus, estimates. Millions of people looking for debt relief are feeling helpless.

Debt-strapped people should always keep themselves updated about the possible ways to get rid of debt. These four great books filled with tips and effective strategies to mitigate and work towards eliminating credit card debt can help you in a major way.

Building Wealth and Eliminating Debt

This exceptional book by Charles Carradine is your ticket to financial prosperity. It discusses many personal finance issues in a comprehensive manner. It is a literary manual which endeavors to improve your financial condition.

The author shares tips on a wide range of topics designed to help you manage debt, its impact on your credit score and protecting yourself from credit card scams. Carradine says that his aim is to educate the readers on how to stay clear to debt and correct poor financial behavior.

How to Settle Your Debts without Committing Financial Suicide

Author Norman Perlmutter has the predicament of people who struggle with credit card debt in mind. Being a “get-out- of-debt coach”, Perlmutter treats topics like how to mitigate credit card debt, repairing of credit and reorganizing your finances with considerable expertise. He lists the dos and don’ts when dealing with creditors so that you can work toward settling your credit card debt and potentially avoid bankruptcy.

The Total Money Makeover

Your financial education cannot be complete without reading this acclaimed book by Dave Ramsey. The immensely popular financial expert suggests a slow but steady seven-step strategy for you to attain financial freedom.

Ramsey advises maintaining a rainy day fund of at least $1,000 and following a snowball approach to get out of debt. The book also gives you 50 real-life examples as encouragement.

Life or Debt 2010: A New Path to Financial Freedom

This book by Stacy Johnson is dedicated to helping the debt-stricken get back on their feet. Here, Johnson discourses extensively on money management. He particularly emphasizes how to steer away from money traps that push you toward debt. His no-nonsense approach to financial education will keep you from indulging in indiscreet use of credit cards.

Financial education is something that you cannot afford to slight, particularly during times of debt troubles. You need to know all the possible options available to keep yourself afloat. If you read the above books, staying clear of debt and avoiding debt relief programs like debt settlement and consolidation should be much easier.

 

Article written by Kimberly J. Howard.

This article was prepared by AdviceIQ.

AdviceIQ has an agreement to republish this author's content.

Important Disclosures

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.

LPL Tracking #525681