Americans are drowning in credit card debt. Equifax, one of the three credit bureaus, statistics shows that 54 million families in the U.S carry $800 billion in credit card debt. Millions of people are feeling helpless and looking for debt relief. Under the circumstance, debt-strapped people should always keep themselves updated about the possible ways to stay clear of debt. Relevant books can help you in a major way in this regard. Financial gurus have written some great books filled with tips and effective strategies to avoid and eliminate credit card debt. Here are some awesome books which can help you if credit card debt is causing you a headache:
1) Building Wealth and Eliminating Debt by Charles Carradine
This exceptional book by Charles Carradine can be your ticket to financial prosperity. It is a literary manual which endeavors to improve the financial condition of the readers. Inundated with tips and strategies to get people out of debt, this book discusses a huge number of personal finance issues in a comprehensive manner. The author shares tips on a wide range of topics including wealth building plans, avoiding debt, impact of debt on credit score and avoiding credit card scams. Carradine points out that his aim is to educate the readers on how to stay clear to debt and avoid poor financial behavior.
2) How to Settle Your Debts without Committing Financial Suicide by Norman Perlmutter
Mr. Perlmutter has written this book keeping in mind the predicament of people who are struggling with credit card debt. Being a “Get out of Debt Coach”, Mr. Perlmutter has treated topics like elimination of credit card debt, repairing of credit and reorganizing your finances with considerable expertise. He shares the “Golden Rules of Debtsmanship” with the readers so that they can successfully settle their credit card debt and avoid bankruptcy.
3) The Total Money Makeover by Dave Ramsey
Your financial education cannot be complete without reading this acclaimed book by Dave Ramsey. The immensely popular financial expert suggests a seven step strategy for the readers to attain financial freedom. Ramsey advises his readers to make a slow but steady progress with certain goals in mind. In the above mentioned book, he emphasizes on the importance of following a full-proof strategy to evade credit card debt. Ramsey encourages the readers to maintain a rainy day fund of at least $1000 and follow a debt snowball approach to get out of debt. The book also discusses the real life example of fifty people to make the readers understand how to get out of debt.
4) Life or Debt 2010: A New Path to Financial Freedom by Stacy Johnson
This is a book dedicated to help the debt-stricken people to get back to their feet. Here, Stacy Johnson discusses extensively on money management. Johnson particularly emphasizes on the necessity to avoid money related traps that push people towards debt. With a no-nonsense approach to financial education, Johnson urges the readers to manage their money in a way which would make sure that you never indulge in things like indiscreet use of credit cards.
Financial education is something that you cannot afford to miss, particularly during critical economic times. You would need to know all the possible options available to keep yourself afloat. Relevant financial books can help you in this type of situation and provide you all the necessary tips and tricks. If you read the above mentioned books, then it will be easier for you to stay clear of debt and avoid debt relief programs like debt settlement and consolidation.