If you’re facing an ever-growing mountain of debt, you’re not alone. Debt is becoming an increasing concern, especially for Americans. A number of factors have contributed to this concern including an unstable job market and inflated housing costs.
The country’s financial instability has left many Americans struggling to maintain the quality of life they had grown up with.
CBS News released an article reporting that nearly 30% of Americans have more credit card debt than emergency funds in their savings account. Although it can be daunting and difficult, it is possible to get out of debt if you have the proper financial education.
We found 50 of the best books to help you get out of debt, so you can obtain the financial freedom you deserve. The books are in no particular order.
Basic Financial Education
1. Debt Free: How to Manage Your Money and Get Out of Debt on Any Income (Finances, Money Management, Debt Free For Life, Debt Relief, Debt Management, Debt Cures, Debt Control)
Author: Julianne Peyo This book offers fundamental advice and techniques for balancing your finances. It covers topics such as budgeting and creating a debt-free plan so you can start accumulating wealth.
2. Debt is Slavery: and 9 Other Things I Wish My Dad Had Taught Me About Money
Author: Michael Mihalik Outlines 10 steps which the author personally used to climb out of debt. This book is recommended for college students and young adults who are beginning to build a financial future.
3. How to Get Out of Debt, Stay Out of Debt, and Live Prosperously*: Based on the Proven Principles and Techniques of Debtors Anonymous
Author: Jerrold Mundis Details a formula proven to be effective for getting out of debt. This is a good choice for people who feel overwhelmed by debt and would like help beginning the journey to freedom. See The Book
4. Zero Debt: The Ultimate Guide to Financial Freedom 2nd Edition
Author: Lynnette Khalfani-Cox Gives expert advice on topics like reducing interest rates and cleaning up a poor credit report. Also gives insider information on your legal rights as a debtor so you stop getting harassed by bill collectors.
5. The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness
Author: Dave Ramsey This is the newest edition of the best-selling book authored by Dave Ramsey. It is designed to help you make a financial plan as well as recognize the 10 most dangerous myths about money.
6. The GOOD Book: get out of debt!
Author: Pam Young This book offers a humorous spin on debt relief, providing tools and exercises that can easily be applied to your life. This book was written to entertain as well as educate its readers.
7. How to Legally Settle Your Personal and Credit Card Debt for Pennies on the Dollar: Without Filing Bankruptcy
Author: Martha Maeda Gives a clear understanding of what to expect when settling debt yourself, and provides useful information on subjects like the Fair Debt Collection Practices Act.
8. The Complete Idiot’s Guide to Getting Out of Debt
Author: Ken Clark This book is authored by a Certified Financial Planner and outlines strategies to overcome any kind of debt including mortgages and student loans.
9. The ABCs of Getting Out of Debt: Turn Bad Debt into Good Debt and Bad Credit into Good Credit
Author: Garrett Sutton This book not only provides key strategies for becoming debt-free but also covers topics like the psychological and health effects that can result from debt.
10. Zombie Economics: A Guide to Personal Finance
Author: Lisa Desjardins Recommended for anyone who has a hard time reading traditional finance literature. This book compares debt to the zombie apocalypse and teaches you how to create a “basement full of ammunition” by saving money.
Advanced Financial Information
11. How To Settle Debts Yourself
Author: Sandee Ferman Provides a step-by-step guide to settling debts yourself, and even explains how to settle debts for less than you originally owed.
12. Negotiate and Settle Your Debts
Author: Mandy Akridge Includes sample settlement letters while giving detailed instructions on how to settle debt yourself. Also covers important legal information on subjects like the Statute of Limitations and IRS Debt Forgiveness laws.
13. The Complete Debt Relief Manual
Author: John Oswald This book explores almost every facet of debt such as bankruptcy, foreclosure, avoiding lawsuits and how to effectively negotiate with the IRS. Also includes sample letters and checklists.
14. How To Settle Your Debts
Author: Norman H. Perlmutter Provides the basic groundwork for getting out of debt, and covers issues such as student loan and tax debt. Also contains useful information for business owners who may be facing bankruptcy.
15. Drop Debt: Surviving Credit Card Hell Without Bankruptcy
Author: Harvey Warren Focuses specifically on credit card debt and is authored by debt-relief expert Harvey Z. Warren. This book also provides in-depth information about the credit card and collection industries.
16. ABC’s of Debt: A Case Study Approach to Debtor Creditor Relations
Author: Stephen P. Parsons Originally written as a college textbook, this book offers basic paralegal training so you can gain a solid understanding of things such as secured transactions and the law of liens.
17. Chapter 13 Bankruptcy: Keep Your Property & Repay Debts Over Time
Author: Stephen Elias A guide that walks you through the process of filing for Chapter 13 bankruptcy. This book is especially recommended for people who are considering hiring a bankruptcy lawyer.
18. CliffsNotes Graduation Debt: How to Manage Student Loans and Live Your Life
Author: Reyna Gobel Focuses specifically on student loan debt and provides insight into evaluating your personal situation so you can effectively consolidate student loans.
19. Mind Your Own Mortgage: The Wise Homeowner’s Guide to Choosing, Managing, and Paying Off Your Mortgage
Author: Robert Bernabé Explains how to intelligently shop for a mortgage, and also teaches you how to quickly pay off your existing mortgage so you can spend your retirement years in peace.
20. Live Debt-Free: How to Quickly Pay Off Your Credit Cards, Personal Loans, and Mortgages-And Build Real Wealth Today!
Author: Ted Carroll Includes valuable tips on paying off personal debt, and also provides an appendix of living expenses in 20 different U.S. cities so you can calculate a realistic budget for your situation.
Budgeting Methods and Tips
21. The Debt-Free Spending Plan: An Amazingly Simple Way to Take Control of Your Finances Once and for All
Author: Joanneh Nagler Teaches the Debt-Free Spending Plan which helps you downsize expenses while accruing money in your personal savings. The plan is said to only take about five minutes a day.
22. Debt Free For Life: The Finish Rich Plan for Financial Freedom
Author: David Bach This book teaches you how to pay down debt and gain control of your finances, and also covers essential topics such as home and car loans, credit card debt, and student loans.
23. The Only Budgeting Book You’ll Ever Need: How to Save Money and Manage Your Finances with a Personal Budget Plan That Works for You
Author: Tere Stouffer Focuses on helping you create a “visual portrait” of your finances so you can expertly manage your spending while accumulating money in your savings account.
24. Rich On Any Income
Author: James P. Christensen This book teaches you how to live a prosperous life while effectively budgeting. It is ideal for people who feel they don’t have enough monthly income to make a realistic budget.
25. How to Manage Your Money When You Don’t Have Any
Author: Erik Wecks Teaches you how to create a powerful budgeting plan with your current income. Provides advice on maximizing your income and paying off debts even if you are living paycheck-to-paycheck.
26. 925 Ideas to Help You Save Money, Get Out of Debt and Retire A Millionaire: So You Can Leave Your Mark on the World
Author: Devin D. Thorpe This book is recommended for people looking for browsing material or a quick read. Contains over 150 personal essays and 925 ideas that can be utilized in everyday life.
27. Managing Your Money All-In-One For Dummies
Author: Consumer Dummies An easy-to-understand guide for how to manage a household budget and boost your income for increased financial freedom. Also gives financial advice on life necessities such as car expenses and life insurance.
28. The Financial Peace Planner: A Step-by-Step Guide to Restoring Your Family’s Financial Health
Author: Dave Ramsey Authored by Dave Ramsey, this book outlines a financial regimen for gaining control over your money so you can enjoy peace of mind.
29. Financial Basics: Money-Management Guide For Students
Author: Susan Knox Recommended for college students who wish to balance their finances while attending school. Contains worksheets to help you develop a budget that suits your needs.
30. The Budget Kit: The Common Cents Money Management Workbook
Author: Judy Lawrence Provides essential tools which can be used to expertly organize your finances while keeping track of monthly expenses.
Creating Extra Income
31. The Income Stream
Author: Robert M. Goodman Designed as a comprehensive guide for identifying and utilizing real estate opportunities. Teaches you how to turn real estate into a lucrative form of passive income.
32. Never Work Again: Work Less, Earn More and Live Your Freedom
Author: Erlend Bakke Provides tips and suggestions for creating a virtual online business and increasing your monthly income. Also teaches you how to automate your business so you have more free time.
33. The Millionaire Mindset: How Ordinary People Can Create Extraordinary Income
Author: Gerry Robert Helps get you out of a “debt” mentality and provides techniques for preparing your mind to actively pursue a lucrative income. Covers topics such as marketing, business development, and goal planning.
34. The Six-Figure Second Income: How To Start and Grow A Successful Online Business Without Quitting Your Day Job
Author: David Lindahl Focuses on making a supplemental monthly income using online or virtual business techniques. The methods described are time-effective and can be worked around a day job.
35. Passive Income: How to Give up your Day Job and Put your Feet Up
Author: Ross Perry Conveys a clear explanation of passive income and what it means for the average person. Teaches tips and tricks to make money even while you are asleep.
36. Top 5 Ways to Make Money Online This Month: A No-Nonsense, Practical, Step-by-Step Guide to Generating Online Income Now!
Author: Barb Asselin Reveals 5 valid and realistic ways of making money online. Authored by best-selling author and college professor Barb Asselin.
37. 101 Best Extra-Income Opportunities for Women
Author: Jennifer Basye This book is specifically designed for women and explains 101 ideas for turning hobbies or creative talent into a supplemental income stream.
38. If You’re So Smart, Why Aren’t You Rich?: A Guide to Investing Fundamentals
Author: Ben S. Branch Teaches you how to maximize the potential of your existing income by intelligently locating profitable investments. Includes a list of do’s and don’ts, as well as an extensive glossary.
39. Running a Side Business: How to Create a Second Income
Author: Richard Stim Includes helpful tips, success stories and legal information. This book also contains advice on picking a second-income opportunity that suits your personality.
40. The Monthly Income Machine – The One Best Investment Technique for Producing Monthly Income
Author: Lee Finberg Details a systemic procedure designed to bring you a substantial monthly return from investments. Describes the methods used by the author for his personal investments.
41. Hidden Credit Repair Secrets: 3rd Edition
Author: Mark Clayborne Recommended for people who have paid their debt but are still dealing with injured credit. Teaches you how to repair credit so you can buy new investments like a home or car.
42. Psych Yourself Rich: Get the Mindset and Discipline You Need to Build Your Financial Life
Author: Farnoosh Torabi Lessons and stories about how to develop the right mindset and attitude to get out of debt and into wealth. She breaks down strategies into simple actions and attitude in manageable actions for both young professionals and the more seasoned alike.
43. Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents
Author: Zac Bissonnette Conveys the author’s personal story of how he succeeded in obtaining a traditional college education without using student loans. Recommended for both aspiring college students and their parents.
44. Debt-Free Forever: Take Control of Your Money and Your Life
Author: Gail Vaz-Oxlade A unique financial guide designed by Gail Vaz-Oxlade. Teaches you how to clear consumer debt in three years or less, and provides tips on preparing for financial emergencies.
45. On My Own Two Feet: A Modern Girl’s Guide to Personal Finance
Author: Manisha Thakor A financial guide specifically geared towards young women. This book will teach you how to become self-sustaining while avoiding credit card and personal debt.
46. The Money Book for the Young, Fabulous & Broke
Author: Suze Orman This book is recommended for young adults who are seeking advice on making wise financial choices and building the foundation for a healthy financial future.
47. One Year to an Organized Financial Life: From Your Bills to Your Bank Account, Your Home to Your Retirement, the Week-by-Week Guide to Achieving Financial Peace of Mind
Author: Regina Leeds This is a great book for anyone feeling controlled by their financial situation. Learn how to organize your income and expenses so you can enjoy greater peace and relaxation in regards to finances.
48. The Debt-Free Millionaire: Winning Strategies to Creating Great Credit and Retiring Rich
Author: Anthony Manganiello Principles and teachings about how to spend money more wisely, get out of debt and retire rich. It teach about cash-flow management, using your credit wisely winning long-term in the financial game.
49. Pocket Your Dollars: 5 Attitude Changes That Will Help You Pay Down Debt, Avoid Financial Stress, and Keep More of What You Make
Author: Carrie Rocha If you feel thwarted by a negative mental attitude towards money, this book can help you get the motivation and positive thinking required to complete a debt-management plan.
50. The Battle Scarred Guide to Small Business Debt Relief and Recovery: No-nonsense, Spill the Beans Lessons From A Turnaround Professional
Author: Ken Thomson This book is a great resource for small business owners struggling with debt. Includes step-by-step instruction and personal stories about the author’s battle to rid himself of business debt.
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