Brian, creator and author of the A Richer Understanding series, provides a review of Mary Hunt’s new book. Publisher: Revell, 2005. 342 pages.
Mary Hunt, the founder of Debt-Proof Living, provides a user-friendly guide that discusses ways to slash the cost of nearly everything you need without sacrificing happiness and quality of life. The introduction sets a strong tone for the read.
“Affluence is not measured by your annual income. Affluence is determined by how many of your resources you manage not to spend — the amount of income you keep.”
Hunt asks you to think carefully about your needs, one at a time, and then together to make a shift from spending to saving. The 80 percent solution, spending no more than 80 percent of your net income, is her answer to achieving financial freedom.
Each chapter starts with a quote. These are my favorite parts of Live Your Life for 1/2 the Price. They provide real-world words as a process for changing attitudes, setting goals and overcoming obstacles. Living below your means and reducing your living expenses to achieve financial freedom requires laser beam intensity and Hunt does a good job providing tips and tools on how to save money in every area of your life. This is a great resource for many, especially those starting out and a morale booster or reminder to more savvy consumers to avoid waste.
The book provides a practical humility; intellectually via great quotes about financial literacy, socially via links to tools and resources to help you maintain a frugal mindset and emotionally via personal stories and truths for anyone willing to spend their time, energy and money in a sensible way.
While reading the book I thought to myself how helpful this would have been at a particular time in my life. I had to hit bottom before I realized how serious my situation was, only then was I able to take a real look at my spending habits and consciously decide to improve my financial life.
What were the markers of transformation from spending to saving for you? What tools and resources would you provide to others looking to transform their financial future?
As a thank you to RetirementSavvy readers, I will be giving away a complimentary paperback copy of the book to a reader. The winner will be randomly selected from those who leave a comment. For those readers not fortunate enough to receive the complimentary copy, Live Your Live for 1/2 the Price is available at Amazon in Kindle and paperback formats.
The Giveaway will end, and the winner selected, at 12:00 p.m. (EDT) on Sunday, October 11th.