Book Review: The Debt-Free Spending Plan by JoAnneh Nagler

Over the past few decades, dozens of popular books have hit book shelves on the topic of personal finance, and they all pretty much say the same things:

  • Debt is a bad idea
  • Get out of it
  • Stop using credit cards to live

That’s great advice for those who are reasonably good at managing personal finances, but for anyone who’s deep in debt, this advice is disastrous. We can’t just be told that debt is bad – the only path to success is to be taught how to live debt-free.

Like with anything else in life, we have to learn how money works, and the right way to handle it. Otherwise we will forever be people who live and rely on debt. Without a plan of action, we will stay in debt and be debting our whole lives.

That’s where this new book, The Debt-free Spending Plan: An Amazingly Simple Way to Take Control of Your Finances Once and For All, comes in.

What is a Debt-Free Spending Plan?

The Debt-Free Spending Plan is not a budget – because, quite frankly, we all hate the word budget. So this Spending Plan is all about  giving you the simple, daily tools to help you get and stay out of debt.

It can be used for anyone who makes $2,000 or $20,000 a month and who’s $400 or $400,000 in debt. The plan is simple, and doesn’t involve a lot of numbers, calculating and complex strategy.

The spending plan is derived from the author’s personal experience with debt and how she overcame over $80,000 while she was in her forties (a perfect lesson that shows it’s never to late to change your financial habits).

Here are the steps she covers for you to being living your own debt-free life.

  1. Agree to stop debting and freeze, cut-up and cancel all credit lines and credit cards
  2. Create a personal Debt-Free Spending Plan and begin to use it in your everyday life
  3. Use savings accounts and fun money to fund what you love, even if you’re saving small amounts
  4. Develop a debt-repayment plan that addresses what you can pay, no matter how low, that still funds your needs

About the Author:

Joanneh Nagler is a former fundraiser and grantwriter who, spiraling in debt herself, was unable to find a simple, workable solution. She developed her own system, a five-minute a day approach that really works. She now coaches individuals and couples, using The Debt-Free Spending Plan to help them revolutionize their relationship with money. Source

About the book

This books offers a 5-minute a day approach to saving yourself from debt. The author shows you how to live on what you make, paying cash to cover all of your needs and bills, while paying back your debts without gouging your living expenses.

This spending plan, is simple, easy and clear to understand. No financial jargon or boring numbers here, it’s just straight and to the point.

Reading the Debt-Free Spending Plan book on my lunch break.
  • Chapter 1: The Heart of Our Debting Issue
  • Chapter 2: In with Structure, Out with Stringency
  • Chapter 3: Make it Work Every Day
  • Chapter 4: Deprivation Will Never Get You Debt Free
  • Chapter 5: To Cut or Not to Cut Expenses
  • Chapter 6: Nailing Down the Octopus Arms
  • Chapter 7: Our Aphrodisiac Spending Plan
  • Chapter 8: How to Stop Asking for Money and Start Paying it Back
  • Chapter 9: Creativity, Not Credit Cards
  • Chapter 10: Keeping on Track and Keeping it Real
  • Chapter 11: Bankruptcy and Our Future Financial Health
  • Chapter 12: Building a Life of Financial Integrity

Towards the end of the book, you’ll see some real life case studies and understand, line-by-line, how to create your own Debt-Free Spending Plan.

By the time you’re finished reading this book you’ll understand how to meet your needs but meet them at a cheaper price. And you’ll see, if you do it right, you don’t have to change your lifestyle much to get the results you want.

My Biggest Takeaway

Many of us make our personal finances more complicated than they really are, but with something as simple as a piece of paper, you can be living a debt-free life today.

Nobody said getting out of debt would be easy, but it doesn’t have to be overly complicated to learn how to successfully manage your money. If you’re not sure where to start, or just need an extra push to start living a debt-free life, then this book is for you!

Start your New Year off with a bang, create your own Debt-Free Spending Plan and change your financial future!

Connect with JoAnneh Nagler or buy the book:

 [I was did not get paid to write this, and I did personally read the book. As always, the opinions expressed are my own.]
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  1. Chris @ Stumble Forward says:

    I can’t agree more Carrie, I hate the word budget. I personally believe that’s why most people can’t get out of debt is simply because they make things way to complicated.

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