4 Unique and Essential Books to Read When Reducing Household Debt

We often discuss with our clients the idea of financial “headwinds” and “tailwinds.” Tailwinds being the financial factors that are positively pushing them closer towards their goals, while headwinds being the factors that are slowing them down on the same journey. Taking on certain debt without purpose or plan can easily become the largest financial headwind in your life.  It can quickly result in constantly taking 1 step forward and 2 steps back for many years into the future.

The lack of financial education is often the main reason behind debt problems.  Here are 4 unique books that can help grow your financial knowledge and give you some necessary tips and tricks to manage your debt decisions.

The ABC’s of Getting Out of Debt

Garrett Sutton provides a comprehensive guide to understanding and eliminating debt. With practical tips and strategies, the book helps readers take control of their finances and work towards a debt-free future. From creating a budget to negotiating with creditors, this book offers valuable insights for anyone looking to improve their financial situation.

Chained to the Sky

This book by Charles Booker is a thought-provoking piece that challenges the conventional wisdom about our limitations. Through personal anecdotes and scientific research, the author explores the idea that we are often held back by self-imposed constraints. He offers practical advice on how to break free from these mental chains and reach our full potential.

...And Forgive Them Their Debts

...And Forgive Them Their Debts by Michael Hudson explores the historical and modern implications of debt forgiveness. Drawing on ancient texts and economic theory, the book challenges our understanding of debt and offers thought-provoking insights into the power dynamics at play in financial systems. It is a compelling read for anyone interested in economics and social justice.

The No-Spend Challenge Guide

The No-Spend Challenge Guide by Jen Smith is a practical and inspiring book that offers a step-by-step plan to help you take control of your finances. By embarking on a series of no-spend challenges, you'll learn how to break free from the cycle of mindless spending and start saving money. With helpful tips and real-life examples, this book will empower you to achieve your financial goals and live a more intentional life.

May the works of these authors provoke your mind and provide motivation in eliminating unnecessary debt, so that you can face one-less financial headwind on your way towards your goals.

Important Disclosures

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.