Debt Free for Life Book Review and Giveaway

If I could give a Nobel Peace Prize to anyone — one of my possible choices would be to give it to someone who wrote a book with the title “DEBT FREE FOR LIFE“! (Biased, I know) Unfortunately, the Nobel Peace Prize has been tainted many times by being given to anyone that has a pulse, instead of to those who actually achieve greatness. In my opinion, the author of Debt Free for Life, David Bach, has achieved excellence and deserves such an award for his latest book. ๐Ÿ™‚

Of course, for me, those that teach about debt and the problems debt causes is a winner in my book!


Four beautiful words that encourage and inspire financial greatness!

Does it get any sweeter than that? Of course it does. The book goes far beyond just a genius title, and digs into one of the areas in life that impact us the most — our finances, but more specifically, the debt that hinders our own personal growth. My absolute favorite part of the book is where David shares the moment he realized his answer to the age old, and highly controversial debate of GOOD DEBT vs BAD DEBT, had changed.

While waiting in the greenroom to do his weekly “Money 911” segment, he realized that usual answer to this question had changed. This is my favorite quote from the entire book, and this is just the introduction!

“The truth is that when you’re in debt, it doesn’t matter what you’ve borrowed the money for. The only thing that matters is whether or not you can afford to pay it back. And if you can’t, all debt is bad debt.”

He goes on to say:

“The best investment you can make in the next five years is going to be paying off your debts. So my advice is to pay off what you owe as fast as you can. The faster you pay off your debt, the faster you will achieve financial freedom.”

That is GOLDEN!!

That advice, if followed, is guaranteed to improve your life! No one ever complains about wasting their time becoming debt free after they have done it! (And if they do I’d like to know what insane asylum they’ve been admitted to so I can chat with them about it.) ๐Ÿ˜€

In this book, David Bach doesn’t just brow beat you with why you should become debt free, he shares with you how. He talks about how lenders keep you broke, the mindset it takes to stay debt free for life, as well as his method for paying down debt as fast as you can — The DOLF Method. He also introduces you to something called Debtwise that uses The DOLF Method to provide you with the tools you need to become debt free for life.

Debt Free for Life is the best debt free book I have read since The Total Money Makeover. David earned my respect when he turned his previous advice on its head, because he realized that times had changed. I think too many experts fail to give advice based on all of the “real-life” components and instead give you the text book answer taught in college.

I highly recommend this book, and although there is a little more focus on credit score than I would like, the book will definitely help you learn the ropes as well as encourage you to strive for debt freedom. I can tell you from experience that becoming debt free was one of the VERY BEST things I have ever done for myself and my family.

We will in fact be DEBT FREE FOR LIFE!

Win a Copy of This Great Book!

Do you want a chance to win the book for yourself? awesome, because I am giving one away. All you have to do is leave a comment below telling me the one thing that is keeping you from becoming debt free for life. If you’re already on a path to debt freedom, tell me what is slowing you down.

Is it your spending habits? Expensive toys? Low income? Job loss? Your inability to let go?

You get the point, but that’s not all. Once you figure out what is keeping you from becoming debt free for life, the next step is to take action everyday to remove that obstacle from your life. Whatever that obstacle is, pick the one that hinders you the most, and do something every day that will eventually help you overcome it.

Too many people simply accept their circumstances for what they are without challenging themselves to think outside the box — to dig deeper to find a solution. Today, YOU ARE NOT THAT PERSON! Today, you will expect more, and tomorrow you will have more. It’s completely up to you!

That’s it!

I will give you until Monday night at midnight to enter this giveaway. Only comments that answer the question above will be considered when the winner is chosen. I’ll even give those of you who enter a chance to increase your chances, but you must tweet this exactly as it is here. (worth 5 entries extra)

I just entered to win a copy of Debt Free for Life by @AuthorDavidBach on @enemyofdebt! Enter for a chance to win!

I can’t wait to announce the winner! Have a super awesome weekend! ๐Ÿ™‚

The Winner

The winner of the Debt Free for Life book by David Bach is Stephanie! Congratulations Stephanie! Your tweet gave you the advantage. I hope you enjoy this book as much as I did. ๐Ÿ˜€

About Brad Chaffee

26 Responses to “Debt Free for Life Book Review and Giveaway”

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  1. Kelli says:

    The number one thing that’s slowing me down on my path to being debt free is discipline, or lack of it. Even though I know full well what I need to do I give in to my wants and desire for instant gratification and spend (waste) money on things I don’t need.

  2. Ben Price says:

    The only thing between us and complete debt freedom is our house. After we finished Ramsey’s Baby Step 3, my wife was able to leave her job at the time to be more available for the kids. It was a great decision, one I would support again, but our income decreased, which made it tough to pay extra on the house. But we’ll get there!

  3. Vicki says:

    The number one thing that is slowing me down on my path to being debt free is my high debt to income ratio. I have curtailed my spending, but there are a few things that I am having a hard time letting go, such as my Sirius radio, my music subscription to Rhapsody. I could be saving myself about $25.00 a month, but I don’t go out, I brown bag my lunch and rarely spend anything on myself.

  4. Renee G says:

    The only thing keeping me debt free at this point in time is wanting to help my sons through college so they don’t start out with a burden of debt.

  5. Stephanie says:

    What’s keeping me from becoming debt free? The main thing is my social life. I always have good intentions to make meals at home but then friends invite me and my roommate out for food, drinks, or whatever. My roommate, who lives more paycheck to paycheck and isn’t concerned about paying down debt and saving, wants to go out so then it’s either me sitting at home by myself or I go out too. Usually I go out. It’s hard to say no! I need to become more disciplined in this area as it not only affects my finances but also my waistline!

    • Brad Chaffee says:

      Stephanie, Congratulations! You have won the Debt Free for Life book giveaway!

      The number 10 came up on which means your tweet made all the difference. You’re gonna love this book! ๐Ÿ™‚

  6. Anna says:

    We recently became consumer debt free except for our house. The trouble we have run into lately is that Murphy has been visiting us which is stalling our fully funded emergency fund. I am happy that we have been able to pay for the repairs with cash, but frustrated that it’s slowed our momentum.

  7. Brandy says:

    One thing slowing me down is that i want my kids to have the things that I never did. When I see a toy or item that I would have loved to have as kid, I tend to buy it, even though half the time they play with it for two seconds and put it aside.

  8. Brett Carter says:

    Where do I start? Discipline and lack of self control for the Stuffitis of the world…. fortunately My wife and I have been working on it and are starting to see the light……. thank you for the words of encouragement.

  9. Julie says:

    The one thing that is slowing me down from becoming debt free is my low income. My husband and I are both self employed. Our expenses are more than what we make. We are constantly looking for a way to make more income. We are pretty disciplined, and don’t spend lavishly. One day at a time, and I am hoping that we start to see a profit from our hard work! :0)

  10. Jennifer says:

    One thing slowing us down is the cost of groceries, believe it or not. I feel like I live at the store and we always have to run back and get something else. We have 5 boys who eat a lot and I know the answer is to plan cheaper home-cooked meals, but I haven’t had the time and discipline to do it during this busy sports season.

  11. Angie says:

    The one thing keeping me from being debt free is laziness. Our debt is all mortgage – two on our residence and one on our rental – and I could have the rental paid off in 3 years if I really tried. Unfortunately, DH and I are lazy and would rather eat out and take our kids to play rather than focus on our debt. Well, that’s a bit of an exaggeration on my part. We’re not really lazy, but we have made the choice to take an extra year and pay it off in 4 years so that we can enjoy ourselves somewhat. Taking the extra year gives us a chance to breathe in our budget and enjoy our lives and our children. We are choosing to look at the 24 years we are shaving off of the rental mtg, not the extra 1 year we’re paying for it.

  12. The only thing between me and becoming debt free is my low income. I have struggled all my life with a low income. The only thing I owe money on right now is my mortgage, however, I know my car needs fixing and eventually replacing, its 14yrs old. My hearing aids are also getting old, 11yrs, and will need to be replaced so I am not sure if I can ever get rid of the debt problem because getting another job is not that simple for me as I am unable to use a telephone properly and the industry I am in is so competitve I don’t get a look in unless people are willing to overlook my hearing impairment. I acquired the above things whilst I was living with my parents but it has been a constant struggle for the last 7 years since I moved out into my place because I wanted to be as independent as possible.

  13. Beth says:

    My debt is so large that sometimes it feels that it will never get paid off. It’s very hard to stay within budget. I am starting to use coupons to help with this. It’s definitely a mental thing to control the “I want….” thoughts. I realize those are what got me into debt in the first place! Thanks for having this give away!

  14. Jill Davis says:

    I had to refinance my mortgage to pay off debt from old boyfriend. If I could pay off this mortgage, I would be in good shape. I am retired. Jill

  15. judy says:

    Actually the biggest thing keeping us from being debt free is the fact that we both lost our jobs in the last year, and even though we are both working now we do not make what we used to. I am trying really hard to pay off our debts and slowly making progress


  16. Tracy W says:

    I think the one thing holding us back is the amount of debt we have. I read & listen to people who have paid off a large amount of debt in a small amount of time & I just don’t know how they do it. I started the TMMO this month so hopefully we are now on the right track.

  17. Beckey & Jeff says:

    What is slowing us down right now is we are expecting our first child in August. We decided we wanted to build up our EF ($2100+) and create a Baby EF ($1000). One of the things that has consistently slowed us is eating out. We did good for 3-4 months and kept it to $60-80/month but last month it was over $250! One plus is, including April, we have lined up 4 credit cards to be paid off (1 each month for 4 months) so, we will have 4 less monthly payments before the baby is born and our snowball will be close to $500.

  18. Erin says:

    I’m knocking it out as soon as possible. Work full time plus several other part time/side jobs to get it done with as fast as possible. Can’t wait until the day I’m debt free (should be except for the house by Dec this year or Jan 2012 if all goes as planned).

  19. Money Momma says:

    Oh ya, I thought I missed the deadline.

    OK, the main thing standing in my way is ME!!!! I need to say NO to my family but I keep saying YES – yes, let’s go to dinner – yes, lets go here or there. I need to say NO and put our money towards paying off the debt so I can say YES again and not have the guilt of burying my family’s future. The main thing that will help me say NO to eating out (our biggest waste of money) is to plan ahead and go grocery shopping. I work all day and I don’t sleep at night so it is hard but if I pay off this debt I can stay home and not have the stress of work and have more time to do things for my family.

  20. Holly says:

    the main thing slowing me down is my job. it’s fairly low-paying and being a small company the health insurance is extremely expensive. I hesitate to leave for something better paying though because it does allow me the flexibility I need to get my kids to their school and extracurricular activities.

  21. Jeannine says:

    The biggest thing that slows me down is lack of focus, and discipline. I know what I need to do, and I know that I can do it, I just have to make the effort and put some momentum behind it. I have lived for a while now handeling my debt, I am finally reaching a point where my goal is to eliminate it.

  22. Barbara says:

    I think with me it is lack of discpline and really no motativation because of exhaustion.

  23. Linda w. says:

    We are on our way to paying off one car so far. We were slowed down because they cut my hours at work and an emergency always seemed to pop up when we were just catching up. I just picked up a 3rd job to help out, but i’m exhausted!

  24. Kandace {Making It Bright} says:

    The biggest thing slowing us down? Other things that we think we “need”. We’ve finally committed to paying off our car in the next 6 months. It won’t be fun, but it will be so nice when it’s totally ours.

  25. Brad Chaffee says:

    Thank you ALL for trying! I wish I could have given all of you copies of this book! I am planning to do another big giveaway really soon. Stay tuned for that!

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