January 23, 2016

Slaying the Debt Dragon

Slaying the Debt Dragon
by Cherie Lowe

Before I write my actual review of this book I want to share how I came to read it...

Our pastor at Emmanuel Church is doing a series called "Reboot." The first sermon was on health (exercise, drink more water, eat healthier, etc.). The second sermon was on finances (tithing was mentioned, I won't lie, but so was paying off debt so that you can lead a more generous life...). The third sermon was on spirituality and this weekend's sermon is going to cover relationships...

The first sermon was perfect for the beginning of the new yeah and was inspiring. I've gotten back to drinking more water (averaging about 80 oz per day!) and I'm been doing a slightly better job with portion control. A stressful week at work with new training did not help with that this week but I'm doing my best. And we've been eating out less...

The second sermon was mostly review of what we've already been working toward: getting out of debt. I didn't really learn a lot in the sermon because we've already been hitting the debt pretty hard but it was a good reminder that trips to restaurants are both unhealthy and also expensive! But I did learn in that series that Cherie Lowe attends our church. Now keep in mind our church has like 4000 people that attend services at three different campuses with a total of 7 services so I'll probably never meet her but it was still cool to learn she lives in same area as us and attends the same church. To be honest I'd never heard of her or her book but being the book lover that I am I quickly added it to my Goodreads TBR (to-be-read) pile and requested it through my library's downloadable catalog...



So I just finished reading the book and while I truly didn't learn a lot of new things I did enjoy a refresher on many things we are already employing and reminders of other ideas too.

Before we get any further. Lowe is a Dave Ramsey follower. If you are not willing to hear about the "debt snowball" or the "cash envelopes" then you might be annoyed at times with Lowe's book. I personally do not agree 100% with some of Dave Ramsey's ideas so there were parts of the book that I skimmed. But I do enjoy reading success stories of people who have paid off large debts.

The Lowe family paid off approximately $127,000 of debt (all their debts but their mortgage) in 4 years! Yes, you read that right! They gave up a lot of things to do so, but they were things they agreed on as a couple and they supported each other. I think that was my favorite part about this book was how supportive they were of each other through the whole debt slaying process.

If you are looking for inspiration and ideas on how to get out of debt then this really is a great book to read. Full of real life examples of how they saved money I believe you'll glean ways to incorporate money saving strategies in your own household.

We are on track to have all but my student loans and our mortgage paid off in about 4 years. Our debt isn't 127k but most days it seems that daunting! We could probably do it faster if we completely gave up eating out completely and dropped some of our giving that we do...but we as a couple feel strongly that our tithes and our giving in addition to our tithes (we each pick where we want to give a set amount each month...) are something that come first. And even if it meant paying off some bills sooner we have decided that eating out once or twice a week is worth it since we both work full time and sometimes just need a break...

If you've been looking for the kick start you need to paying off debt I would highly recommend Cherie Lowe's book!

In an effort to continue to save money I borrowed an ebook copy of this book from my local library to facilitate this review. All thoughts are my own. I was not required to leave a review.