Review: 7 Money Rules for Life by Mary Hunt

• 
• Tweet
• Sumo

• 
• Tweet

Financial ignorance costs.  A lot.

Since most North Americans don’t understand the basics of personal finance they’re suffering financially, emotionally, and in their relationships.  That’s why Mary Hunt, founder of Debt-Proof Living, has written 7 Money Rules for Life: How to Take Control of Your Financial Future.  In it she presents 7 rules that will help anyone, in any circumstances, to improve his or her financial future.

1. Spend less than you earn
2. Save for the future
3. Give some away
4. Anticipate your irregular expenses
5. Tell your money where to go
6. Manage your credit
7. Borrow only what you know you can repay

As you can see, the rules are simple and obvious.   Why don’t most North Americans follow them?  Perhaps it’s because they don’t understand them.  Mary Hunt does an excellent job explaining how and why the rules work even in crazy circumstances.

She also includes practical help such as charts, tables, examples, and detailed instructions.  The most effective of all is probably the little pocket flow chart to go through before making an unexpected purchase.

As if that isn’t enough, she even offers readers a free membership in Debt-Proof Living Online.

As a homeschooling mother, I want to train my children to to be wise stewards of the resources God will give them in this life.  This little book presents 7 easy-to-remember rules and explains how to implement them.  Its advice is quick, simple, and easy to memorize, even for little ones.  The flow chart is perfect to help my impulse spenders.

Our teens study Dave Ramsey’s Foundations in Personal Finance Curriculum (reviewed here and here) which gives a memorable and thorough overview of personal finance.  They have also read Amy Dacyczyn’s Tightwad Gazette which is full of frugal tips.  Mary Hunt’s short and simple 7 Money Rules complements these resources

1. by giving good reasons to use Amy’s tips and
2. by presenting a brief summary of personal finance from a different angle than Dave’s comprehensive course.  (Do note that Dave and Mary disagree on the use of credit.)

If you want a quick and simple summary of personal finance for yourself or your homeschool, 7 Money Rules may be just what you’re looking for.

Disclosure: This book has been provided courtesy of Baker Publishing Group and Graf-Martin Communications, Inc. and is available at your favourite bookseller from Revell, a division of Baker Publishing Group.

This is my sixth book in the in the 2012 52 Books in 52 Weeks Challenge.  For more tips, visit No Ordinary Blog Hop, Encourage One Another Wednesday, Women Living Well Wednesdays, Works For Me Wednesday , Raising Homemakers, Thrifty Thursday, and Frugal Friday.