You might have heard on the news that Americans are carrying more debt than ever before. However, have you heard any solutions for this problem? Pay It Down!: From Debt to Wealth on $10 A Day, by Jean Sherman Chatzky, outlines strategies that can help you get out of debt and accumulate a savings cushion.
Chatzky suggests that starting small will be beneficial in reaching your savings goals. She says, “By giving yourself benchmarks that are actually achievable, you allow yourself to succeed. You'll feel great when you reach one, and that will make you feel as if you can do even more.” She offers personal stories and accounts of people who have made small changes in their financial lives and no longer have to worry about carrying heavy debt. By saving “$10 a day” you could have built a savings large enough to help fund your retirement in 10 years, and in half that time you could actually have a substantial savings to ease your financial worries. She illustrates that $10 a day is equal to the cost of frivolous items you probably find yourself spending your hard-earned money on, such as lunch at a fast-food chain.
Jean Sherman Chatzky is the financial editor for the nationally syndicated morning program, the Today Show. She is also the author of several other books including, You Don’t Have to Be Rich: Comfort, Happiness, and Financial Security on Your Own Terms, and frequently appears on television and in print offering financial advice. Chatzky is a graduate of the University of Pennsylvania. Her book, Pay It Down!: From Debt To Wealth On $10 A Day, might be the right guide to help you avoid debt now and start preparing for your future.