Jul 24, 2013

Give Yourself a Raise

Give Yourself a Raise -- How to Have: More Money, Less Stress, Financial FreedomGive Yourself a Raise -- How to Have: More Money, Less Stress, Financial Freedom by Gordon Bennett
My rating: 2 of 5 stars

Easy to understand, mostly common sense.

Really wasn't very useful to me as I already do most of the stuff he advised. I do disagree with him about using cash to make purchases. There are several advantages to using credit cards.
1. If your purse/wallet is lost or stolen you can report the credit card lost/stolen and have it canceled. You aren't responsible for any fraudulent charges. Whereas the cash is just gone.
2. It saves time. I really hate it when I am in a hurry and I get behind someone who is scrounging around in their purse for the exact change or they are writing out a check. Much faster to swipe a credit card.
3. You don't have to worry about the cashier not giving you the correct change.
4. If there is a problem with your purchase, most credit cards offer some sort of help in reaching a satisfactory resolution with the seller.
You should however pay your credit card balance off in full and on time. And you should make sure you card has no annual fees or hidden cost associated with it.

I also disagree with him about debt. I don't think going into debt to buy a house or car is unreasonable. And I disagree about having to have a 20% down payment on a house. Like cars you should be able to finance houses for 100% of their purchase price. That said you should carefully consider how much you can afford to spend on a house note, get a fixed rate loan and factor in that property taxes or house insurance will go up over the life of your mortgage.

He totally ignores student loan debt, which is a huge drain on our economy.

Like his emphasis on having plans and goals.

I wouldn't waste my money on the book but if you have trouble managing your money you might want to consider it. Tip see if your library has it and save the purchase price.

Reviewed for the Cadence Group.

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