Pocket Your Dollars: 5 Attitude Changes That Will Help You Pay Down Debt, Avoid Financial Stress, and Keep More of What You Make by Carrie Rocha
Countless free budget plans are available for every possible income level and stage of life. So why do more than 60 percent of U.S. households still live paycheck to paycheck? The key to financial stability and success isn't just about money--it's about attitudes.
Rocha uses the lessons she learned overcoming personal debt to teach readers how to triumph over the lies we tell ourselves, such as "I deserve a treat," "Fake it till you make it," and "I can't afford it." Each chapter uses real-life examples to explain faulty thinking about money, followed by step-by-step instructions for how to overcome these pitfalls. Budgets are helpful, but real change won't happen without a financial attitude adjustment.
I am always looking for ways to improve our family budget and when I saw Pocket Your Dollars… was available I decided to see for myself what I could learn from it. A lot of the ideas in this book deal with the attitudes we develop about money. I thought there was some good solid information for getting out of debt and staying out of debt, such as in Chapter 5 when Rocha talks about consumerism and how the rich really live.
The chapters in Section One speak of the five attitude changes that need to be made. There is a quiz at the end of these chapters and discussion questions which are suitable for small groups. These chapters are filled with real-life examples of attitude changes made by Rocha and her husband to pay off almost $60,000 of debt in just 2 years.
In Section Two Rocha shares skills to help change your attitude toward debt and saving money. My favorites were replacement thinking- We work too hard for our money to let it leak out of our life- I am grateful for what I have, etc.
Section Three, which was my favorite section, was packed with many helpful resources. Here we find tips for cutting spending, budgeting and even a plan for paying off debt. One of the things suggested in Pocket Your Dollars is to pay off your credit cards and loans with the lowest balance first- no matter the interest rate. She then went on to suggest once a debt is paid off you add that payment to the next lowest bill until they are all paid off.
Over all I would give Pocket You Money… a 3 star rating. I would have liked to have read about others who have had success with these attitude adjustments presented. I think staying out of debt once you have paid everything off can be a challenge. While the author has been debt free for 4 years I would have like to have some advice from someone who has remained debt free for a much longer period of time.
I received this book from Bethany House Publishing Group in exchange for an honest review.