Debt is Slavery
and 9 Other Things I Wish My Dad Had Taught Me About Money
By: Michael Mihalik
Published: Feb 28, 2007
ISBN: 9780978545703
Format: Paperback, 128pp
Publisher: October Mist Publishing
Being in debt is the equivalent of being in slavery, writes Michael Mihalik, in
Debt is Slavery and 9 Other Things I Wish My Dad Had Taught Me About Money. He believes when a person enters into personal debt, it is the same as voluntary indentured servitude to the creditors. True freedom, writes the author, is to be entirely free of outstanding personal debt.
Michael Mihalik writes from painful personal experience with debt, and how he faced personal backruptcy, while barely out of college. He cut up his credit cards, and reduced his personal spending. He was eventually able to repay his creditors. Because of the personal trauma resulting from his indebtedness, Michael equates debt with being in slavery. During his time of severe financial distress, he learned many important lessons, and they form the basis of the book.
Michael Mihalik (photo left) intentionally wrote Debt is Slavery as a short book. His stated goal was creating a personal financial guide, that provides the bare essentials of debt elimination, for the average person. The book starts out by helping people change the way they think about money. More importantly, while pulling no punches, the author stresses the dangers of creating and adding personal debt. At the same time, he shows how to maintain a prosperous and happy lifestyle without creditors.
For me, the power of the book is its straight forward treatment of the personal debt trap. While the book is not aimed at the more sophisticated investor, it hits its mark well with the average person on the street. Changing the way that money and debt are considered by the typical family is a valuable contribution to personal finance literature. Knowing how to avoid the siren call, of purchasing unecessary items on too easy credit, can be a life saver for many families today.
I recommend Debt is Slavery and 9 Other Things I Wish My Dad Had Taught Me About Money by Michael Mihalik to people who are saddled with a heavy debt load and who seek to ease the burden. If you are a person facing hardship, numerous creditor phone calls and letters, and believe their is no way out, this is the book for you.
Read Debt is Slavery and 9 Other Things I Wish My Dad Had Taught Me About Money and buy back your personal financial freedom. You have nothing to lose but your creditors.
