Book review: Deceptive Money June 15, 2009
Posted by BDO in Reviews.Tags: beating, bob, brooks, consumerism, credit, Debt, deceptive, loans, money, prudent, review
trackback
By Bob Brooks, host of the Prudent Money Show
Deceptive Money provides a powerful and revealing look at the credit card industry and how they market and trap many Americans into debt. Bob Brooks writes a well-researched book with many proven ideas on how to outwit the credit card companies and the many games they play with our finances. His book is an excellent resource that exposes the amount of money being made from debt and “debt relief.” This book will help you understand how the credit card companies, many federal laws, and other businesses and marketers work together to spin a large web to trap Americans into debt.
The best part of the book is the last chapter, where Brooks provides an analysis of the motivations for debt in America. Here is my favorite quote:
By using money/credit/debt to create happiness and to fill a void, we are just settling for a false sense of security and happiness that will quickly vanish. -Bob Brooks, Deceptive Money
Brooks does an excellent job of analyzing the emotional aspects of money and debt. He understands that debt temporarily fills an emotionally insecure person with the internal needs they lack. Furthermore, he understands that as soon as we start viewing debt as a personal (not governmental) problem, we find that there are emotional insecurities that must be dealt with properly.
I highly recommend this book for those looking for some new strategies when facing credit card companies. For those who are not in debt, this book provides further reasons why we must fight to help educate those enslaved in debt.
To learn more about Deceptive Money or to get a copy, please click here.
~~~~~~~~
GoodSearch for BeatingDebt.org
http://www.goodsearch.com/?charityid=877125
and other opportunities.
Volunteer or Donate to Help Convince People To Stay Away From Debt.
A Kid's Guide to Managing Money (Ready-Set-Grow Series)
I think loan companies should be honest and up front about what they will charge on loans and what penalties people are likely to incur should they default. After that it is up to the individual to decide what he wants to do but there should definitely not be any traps.