I recently set a goal of reading one money saving/budget related book per week. This week I chose The Complete Cheapskate by Mary Hunt (received courtesy of paperback swap 
).
This is the first book I have ever read by her. It seems like the only name I hear when it comes to debt and budgeting is Dave Ramsey (that’s not a bad thing though!)
The title of this book made me think it was going to be like the Tightwad Gazette or something, which is was not anything like that. The first few chapters were heavy on eliminating credit card debt, of which we have none so I almost stopped reading. But I am so glad that I didn’t. Once she got into the meat of the book, I really, really liked it. As a matter of fact, it was one of the most straightforward and educational books I have ever read on how to budget.
And I love the fact that she deals with the issue of having very little money. Many budgeting books tell you how to deal with money assuming you have lots of it that just needs to be redirected. This book deals with the issue of once you make a budget you may realize that you are running short on funds. Then she teaches you how to deal with that and gives you a long term plan to live below your means and eventually prosper.
She also talks a lot of self control in handling money, and is very candid about her struggles in the past with this. I loved her openness, and when I was done reading I was feeling very encouraged about budgeting wisely, better handling of our money, and feeling like her plan could really work for us. I look forward to reading more of her books!
I would say that before you begin Dave Ramsey’s Total Money Makeover, read this book. Then combine the two methods (which are similar in a lot of ways) and you will definitely be on the fast track to better money management and a debt free lifestyle!
Do you have any must read books on budgeting and frugality to recommend I add to my reading pile? I’d love to hear it!
This post is linked to Finding Freedom Friday and Frugal Friday
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I finished up reading The Complete Cheapskate yesterday morning and I am soooo excited to try and implement the idea’s that I learned about in the book into my plan to get myself out of debt. Thank you for doing a review on this book!
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Tracy, did you mean “mvelopes” or “my mvelopes”? I linked to the site you provided and signed up, but then I found “mvelopes,” which is much more extensive but costs to join.
I would also recommend Mary Hunts book Debt proof your kids. And a definite read is The Millionaire Next Door (there is also a sequel that I don’t remember its title, that is also interesting). I loved reading the habits of Millionaires, and seeing how much we actually had in common. That we were actually quite similar and on the right track, if only we made more money we could get there faster.
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Sounds good! I’m going to look this book up at the library. Can’t hurt to check there right?
i also do a morphed version of mary hunt and dave ramsey. Dave can be very shaming and talks “down” to people, while mary doesn’t do that. Mary also does a better job of explaining the freedom account, which is where the Light Bulb of understanding went off for me.
I LISTEN to dave but i DO mary hunt.
mary explains how to live life as a responsible adult.
The titles of Mary Hunts books can be slightly misleading. My husband and I largely owe getting our finances under control to her Debt Proof your Marriage book. Funny thing is: when my husband picked up the book and decided to buy it, debt wasn’t our problem! Anyway, to cut a long story short, the advice and suggested methods in the book, together with God’s grace, set our feet back on the right path and 18 month later our financial position has done a 180 deg turnaround.
To return to my main point: Debt Proof your Marriage is about SO much more than debt – its about putting your finances in their rightful place in your life, marriage and relationship with God so that your financial patterns are sensible and in control, and she offers much practical advice to help you do it. Debt is only a part of that.
I’m glad you enjoyed Complete Cheapskate – Mary is full of good, honest, practical advice and her website http://www.cheapskatemonthly.com is regularly visited by both my husband and I.
If you’re keen to use her money management system, http://www.mymvelope.com is set up using the same principles. We use it and it works VERY well.
Great tip.
I read that Tightwad Gazette. It was a bit much for me.
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