Good Debt, Bad Debt: Knowing the Difference Can Save Your Financial Life

Read an Excerpt

A Matter of Life and Debt
In America we have both enjoyed and abused the privileges of our society. Yet many are experiencing an implosion of insecurity and vagueness of purpose that leaves them vulnerable to clever merchants seeking to plunder their infant wealth.

Debt Philosophy
Many financial books present supplemental, not fundamental, principles. Financial failure begins in the thinking process before the actual spending. George Orwell said, 'People can't write clearly because they can't think clearly.'

Debt is like cholesterol, says author and lecturer Jon Hanson: Some kinds are good and some are bad. Too much bad debt can wreck your financial health, but so can too little good debt. The problem is that many people never learn the difference. Hanson himself barely survived a "near debt experience" a few years ago.

In Good Debt, Bad Debt, Hanson explains how good debt can help readers achieve their dreams, such as buying a house, a car, or a college education. But he's also tough about diagnosing the symptoms of bad debt. If you've ever gotten into trouble with your credit cards, or leased a car that's way more expensive than you can really afford, or bought a house with only 5 percent down, it's time for a reality check.

Hanson has been researching this topic relentlessly since pulling himself out of the hole he dug with bad debt. His book blends personal stories, humor, and even twenty original cartoons, making it more fun to read than the typical personal finance tome. It covers topics like income/wealth confusion, emotional spending, and marriage issues - as well as nuts-and-bolts chapters on car buying, home buying, retirement, and more.

Good Debt, Bad Debt is an entertaining and inspirational guide to improving your life so that bad debt can't rob you of your joy. In the tradition of Rich Dad, Poor Dad, it shares the secrets that only a minority of lucky people already know.

Jon Hanson lectures to audiences of all sizes on personal finance topics. A twenty-four-year veteran of the real estate business, he is now a full-time writer and public speaker..

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