Getting Out Of Debt: Money Management by Michael Steven is a non-fiction self-help guide for those who find themselves in a perpetual cycle of financial indebtedness and feel that they will never be free of it. Over the course of six separate and interconnected chapters, Steven provides nine steps to beat what gets so many people down. Steven's book stands apart in that the steps are not just rattled off in a short chapter surrounded by fluff. Instead, the stages of acknowledging, calculating, and clearing debt, followed by recovering and rebuilding in its aftermath are woven into comprehensive chapters that dig deep into a variety of factors that get us to where we are, factual data, and the psychology and emotional toll debt takes on the lives of millions. Each chapter concludes with a brief summary and also includes checklists and additional resources.

Getting Out Of Debt creates an encouraging springboard for those who need it the most. Michael Steven approaches this delicate topic without resorting to guilt or a patronizing narrative on where a reader went wrong, nor does he just outline a one-size-fits-all method to get back in the right. As someone who was able to eliminate a lifetime of debt a few years back, I read Steven's book and found ways I could have eliminated it sooner. Still, much of the recovery and rebuilding sections can be applied to my life now. My favorite is what Steven calls “Envelope Style Budgeting” in which he shows an incredibly simple method to avoid overspending. The example provided is if you are meeting friends for a coffee, take only what you need—in cash—to get the coffee from the envelope of cash set aside for such activities. Don't take the whole envelope because, if you're anything like me, you'll end up spending more simply because it is in your hand. This is an excellent book that will no doubt help all who read it, regardless of which stage of the debt cycle a reader happens to be in.

Getting Out Of Debt: Money Management by Michael Steven is a complete blueprint to do just what the title says—get out of debt and start building a financial portfolio. The book’s subtitle is “You Cannot Afford to Wait Any Longer: Rich or Poor, 9 Simple Rules to Clear Your Debts Faster, Rebuild Your Credit.” Before getting into the nuts and bolts about how to get out of debt, Steven discusses in great detail the causes and results of being in debt. He minces no words about the cause of many financial problems—in many cases, it’s a lack of financial discipline and self-control. But he also knows that other, less controllable situations, such as medical expenses, may result in financial trouble. After Steven lists the reasons people may be in debt and the impact that it has on their lives, he teaches practical ways to begin reducing debt and start saving. Each chapter ends with a helpful summary.

I wish I'd had this book to read when I was young and newly married. Author Michael Steven says that he struggled with debt earlier in life and I identified with that. I’m sure many readers will, too. Steven’s ideas to get out of debt and start saving money are challenging but workable and realistic. Many will find the “budgeting approach” section, which offers solid, practical ways to reduce debt, an especially helpful segment. Even if readers aren’t currently in debt, they’ll find Getting Out Of Debt: Money Management a useful resource. Steven introduces many financial terms and he carefully defines them, which alone makes the book valuable. I recommend the book to anyone who wants to improve their financial lives.

Stress and the emotional toll of being in debt can be overwhelming. In Michael Steven’s nonfictional book, Getting Out of Debt: Money Management: You Cannot Afford to Wait Any Longer, a strategy to create financial freedom is outlined. Although the author works as a mortgage specialist, his personal experience with debt adds to the credibility of his advice. He explains many concepts that will aid in making needed changes. Some of these concepts include the difference between good debt vs. bad debt; why we get into debt; how to engage with your creditors; developing a plan to pay your debt. He also provides hope and clear strategies in the last chapter on how to build wealth – an idea that many people in debt do not consider a possibility.

This book is written in an easy-to-read, understandable manner. The author imparts essential information that can be absorbed by anyone who desires to leave debt behind and create a bright future. He uses a non-judgmental tone about past decisions; and he notes that frequently circumstances such as a medical crisis, divorce, and job loss can be the culprit of finding oneself in financial trouble. Additionally, a summary of each chapter is included on the last page of the chapter. The resources at the end of the book are very helpful – a link to the Financial Freedom checklist, information about legal protection against harassment from debt collectors, and an interesting reference list. Getting Out of Debt: Money Management by Michael Steven is a must-read for those seeking to be rid of debt.

Getting Out of Debt: Money Management by Michael Steven is a valuable guide on how to get rid of debt fast. The book shows that debt is a pertinent issue as captured by a statistic quoted in the book that states how in 2020, US consumer debt was at the shocking figure of $14.3 trillion. While the book acknowledges that not all debt is bad and that debt when used responsibly can be used as a tool to create wealth, it also explains that debt has a negative effect not only on the financial state of an individual but also on their mental wellbeing. The first chapter asks the critical question: How did we get here? And the book goes on to examine different reasons that cause debt to accumulate - both valid and invalid - and why many people find themselves trapped in debt including underemployment, divorce, and gambling.

Getting Out of Debt offers a step by step process of dealing with and getting rid of debt including the starting point, different approaches to tackling debt, and what to do after debt elimination. I like that the book also recognizes that people’s approaches to getting rid of debt differ depending on their personalities and hence discusses different methods that different people can utilize to achieve their goal of becoming debt-free. Steven combines his personal experiences with debt with his professional experience as he explains each topic. Each chapter contains a comprehensive discussion of each aspect of the topic. In the second chapter, for instance, which discusses how to transform your relationship with debt, specific negative emotional reactions related to debt are listed and explained. Getting Out of Debt by Michael Steven is a systematic, insightful guide that contains valuable information and tips on getting rid of debt.