Generation Debt: Take Control of Your Money–A How-to Guide Reviews
July 21, 2011 
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Category: Debt Kindle Books
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Good book!,
– Why does Ulrich refer to those aged 18-34 as Generation Debt?
– Why do the minimums of a college education, cell phone, good car, and the right clothes to interview in, put the average 24 year old close to $30,000 in debt while going after a $30,000-a-year job?
– Why does this age group think of spending, rather than investing and saving?
– And what will it take to drive back what Ulrich refers to as “the enemy”: debt?
Ulrich does a masterful job of identifying not only the symptoms that tell us we’re in up to our ears in bad debt, but also the root causes so that cures can be found. We’re treated to up-to-date statistics that let us know that college graduates out earn their high school counterparts by almost 45% on a weekly basis, right here and right now–let alone over a lifetime. She shows that Pell grants that once covered up to 84% of one’s college costs now, at most, cover 40%.
But she doesn’t let the Generation Debtor off the hook. It is not circumstances that cause debt. It is decisions that cause debt. It is being labeled by lifestyle–hippie boomers, soccer Moms, Nascar dads, and bobos (you’ll have to read the book to understand that one!) that causes us to believe that we need, want and deserve certain things.
Ulrich identifies where big debt can come from, correctly points out that the social stigma of debt is largely gone, but that it also starts to hurt, big time. She also points out that there are ways out, however, not as fast as one might like and certainly not as painless. But there are huge perks to getting on the other side of Debt Mountain.
The book is filled with practical helps to create a master plan for getting out of debt along with tremendous resources, many available online. It also shows how to get money working for you, instead of simply working for it.
Armchair Interviews says: For parents of 18-34 year olds, this book is a great gift–but only when you’ve bought it for yourself and begun applying the principles to your own debt!
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|the best $$ reference that’s there for you,
ever felt depressed about college debt? or overwhelmed about what to do come tax day? or embarrased about not seeming adult enough because you don’t know how credit cards work, what the hell a 401K is and a mortgage involves? when you’re feeling insecure about such things, sometimes you just don’t do anything about it, and that’s when you get the $35 credit card charge for not knowing there was an overlimit fee, or you just let your money sit in the bank without growing much…it wasn’t until i came across this book that i was finally able to have my money questions answered without feeling inexperienced and behind in the game. it is like a cool older sibling that has your back, with tons of useful information, insightful explanations, and guides you to other internet resources to seek further assistance, plus lets you make your own adult decisions. i highly recommend this to anyone who is feeling at all confused, overwhelmed, stressed out, or alone in this debt-ridden world. this book will be there for you and you’ll feel like you’re talking to a close sibling/friend that’s there to comfort you, not judge you or tell you what to do.
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|Insightful thinking,
The debt problems facing the US are staggering, and Peter Ferrara does an excellent job describing those problems. $14.3 trillion comes to $190,000 for the average family of four in the US. Obama’s February budget proposed adding another $130,000 for that family (over $10 trillion). Americans see the riots in Greece and the unwillingness for the government to do anything to solve the problem, and even the official debt count shows us on a path that will shortly get us to Greece’s debt as a share of GDP. While the EU and the US are coming to the aid of Greece and other countries, you can see the problems created when larger countries such as Spain or Italy start to have problems. Who will be able to come to our aid?
Ferrara doesn’t just stop there though. Peter Ferrara is an original thinker and he offers some insightful and thoughtful solutions to the problems. One might not agree with his solutions, but they will get you to think and make your own arguments much better. Unlike many books out there, this book does treat its readers like idiots. Peter makes difficult points understandable, but he doesn’t avoid the tough issues.
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|this book sheds the light on congresses idiocy, it is a call to arms,
We Need To Demand A Balanced Budget!
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We the people need to demand that our politicians balance our budget and begin to pay down the national debt.
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The Obama administration will have taken the nations deficit from a historical total of 12 trillion to 17 trillion within 4 years. In 4 years, he will also have tripled the deficits run by the Bush Administration in its entire 8 years. We will be spending 2 times more than we take in and that will devalue the dollar boosting inflation and send us into a tail spin.
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The price for the artificial recovery and Obama’s presumed re-election effort, I mean economic recovery, will be massive deficits, increased interest payments on the deficit, a devalued dollar and an even greater economic crisis down the road.
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A Balanced Budge Amendment Would Be One Way To End The Madness.
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Alternatively We In The States Should Demand A Federalism Amendment To Stop Unfunded Mandates.
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We the people are asking our State Legislators to resist the growth of federal power. We ask that they petition Congress for a convention to propose amendments to the Constitution.
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We need the federal government to halt its practice of imposing mandates upon the states for purposes not enumerated by the Constitution of the United States.
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We want a restoration of a healthy balance between federal and state power while protecting the liberties of the people. We propose a new “Federalism Amendment” , proposed recently in the Wall Street Journal, with wording similar to this: .
Section 1: Congress shall have power to regulate or prohibit any activity between one state and another, or with foreign nations, provided that no regulation or prohibition shall infringe any enumerated or unenumerated right, privilege or immunity recognized by this Constitution.
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Section 2: Nothing in this article, or the eighth section of article I, shall be construed to authorize Congress to regulate or prohibit any activity that takes place wholly within a single state, regardless of its effects outside the state or whether it employs instrumentalities therefrom; but Congress may define and punish offenses constituting acts of war or violent insurrection against the United States.
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Section 3: The power of Congress to appropriate any funds shall be limited to carrying into execution the powers enumerated by this Constitution and vested in the government of the United States, or in any department or officer thereof; or to satisfy any current obligation of the United States to any person living at the time of the ratification of this article.
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Section 4: The 16th article of amendment to the Constitution of the United States is hereby repealed, effective five years from the date of the ratification of this article.
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Section 5: The judicial power of the United States to enforce this article includes but is not limited to the power to nullify any prohibition or unreasonable regulation of a rightful exercise of liberty. The words of this article, and any other provision of this Constitution, shall be interpreted according to their public meaning at the time of their enactment.
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Except for its expansion of Congressional power in Section 1, this proposed amendment is consistent with the original meaning of our Constitution. It merely clarifies the boundary between federal and state powers, and reaffirms the power of courts to police this boundary and protect individual liberty.
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