Mary Hunt (2) (1948–)

7 Money Rules

“Stop spending. Just stop. If it is not required to preserve life (examples: basic food, gasoline to get to work, medication, rent) do not buy a thing. Round up all of your plastic and put it away in a safe place that is not easily accessible.” Only spend on drinks and what Mum and Dad wants you to buy. Nothing else.
“Downsize your lifestyle. I would not be surprised to learn that you have cut your expenses to the bone, and that you can cut no further. I respect your efforts, but if you are unable to live on less than you earn, you have a lot more cutting to go. It’s called austerity, and that surpasses frugality. Austerity may require that you move to a cheaper neighborhood or move in with family. Sell your extra cars in favor of public transportation. I don’t know exactly what you need to do, but somewhere between the bare necessities of life and where you are now is a place where you are spending less than you earn” Spend on what is important. Bank the rest. Spend on tea, ginger beer, and ginger ale, as well as seltzer water. Nothing else.
Save money strategically and with purpose.
Do not rely on credit cards for emergencies. Rely on God and prayer and not spending any money to see you through. Let your income pile up and put $5.00 away each week.

Quote in Summary

‘Spend less than you earn. Bank the difference and build assets and not liabilities when dealing with spending.’… (mais)

Mary Hunt is the founder of Debt-Proof Living. I am always interested in comparing ideas found in debt-proof living books, as well as getting new ideas for instilling this in the lives of my children.

I found this book to be very easy to read because Mary Hunt is very personable and open. This is full of great advice from a mom that came from someone on the brink of financial ruin. Although most things are common sense for people that are raised by budget conscience parents these are the very ideas the very foundational things that somehow were not communicated to the last generation. This book is a wonderful book for young couples to read and to start putting into action.

I only found one place where I did not agree with Mary Hunt - and that is her statement that it is best to leave your children at home when you go shopping. As a home school mom I see the stores as an extension of our school room. My goal is to teach my children the virtue of self-control and keeping their "wanters" under control and learning to say "I want that but I do not need that so I choose not to spend my money on that". I also want my children to see me put into action what I preach with my mouth. My husband and I do not use the debit cards or checks we use cash only method. Since my children only see us use cash they learn that cash only is the best life style - when you don't have it you don't buy. They also are taught that our debit card is like cash and can only be used if cash is at the bank. I take my five every where including shopping even through the "I want" years. They are shown my grocery list told how much money we have and are often given their own lists and a certain amount of cash to get that amount of groceries and taught to buy on a budget and given praise when they come out below budget.

I think the over all theme of this book is to accomplish the mindset of living on a budget. She has done a great job and I will be recommending this book to others to read. I was very impressed with her personable writing and can find no fault other than the one statement, which I really don't see as a fault. Mary Hunt's book is something that should be required reading for young couples.

Thanks to Revel for this review copy.… (mais)

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.… (mais)