The Money Secret by Rob Parsons

rammell

There's a new book just been published about debt. It is written in the form of a story so might not be to everyone's tastes but it contains some great advice. Check out availability/prices etc at http://www.bookbrain.co.uk. here's the blurb:
"Practical and life-changing, The Money Secret will totally revolutionise your attitude to money and show how it can either be the source of freedom and happiness or a burden of guilt and debt. When you have finished this powerful story you will want to cut up your credit cards forever and rid yourself of the power of the banks and lenders and advertisers who dupe us all into a spending frenzy based on false promises and slick delusions. As well as offering solutions this book will challenge the status quo and question current spending habits. Rich or poor, we have all at some time felt in despair about money and its power over our lives. Rob Parsons shows a new way forward which will change your life, focus your priorities and put you back in control."

Debt_Free_Chick

Sounds much like Martin's book .... how does it compare?

Personally, I have a preference for supporting Martin as he makes this site free of charge :-)

MSE_Martin

Actually I've a copy of this book and skip scan read it and its quite interesting. It's an 'empowering story type' and very different to mine which is a 'step by step moneysaving guide'. It's a nice read though - but i would put it in a very different category to the Money Diet.

Martin

Malestrom

Ahh...so what Martin is saying, is buy both books.....but just Money Diet if you can only afford one. Obviously.

elona

You have convinced me as I have just ordered it - but not at the full price obviously :):)

rammell

My interpretation (Martin pls do correct!) is that the Money Diet is primarily focussed on money saving..... though of course if you are consistently good at money saving you'll probably stay out of debt. Whereas the Money Secret makes little attempt at addressing bargain hunting, making the most of your money etc. Rather it focusses on why people get into debt and the best ways of getting out.

As Martin says, it is written story-style rather than as a "setp-by-step how to" guide. It would probably appeal more to those who maybe haven't realised they have debt problems or those who would not read a self-help book.

Not saying one is better than the other. Just that they're very different books and both have their merits.

Martinslovechild

Amazon are currently selling Martin's book, The Money Diet for £4.79.

While you're there, I recommend a copy of the new Bloc Party CD. It won't help your moneysaving but it's a damn fine listen!!!

MSE_Martin

Without wanting to slag Rob's book off - i don't see it as a 'get out of debt practical book' i see it as an 'enthuse you to live life a different way book'.

If you want inspirational - get out of debt stories and 'it can be better' stuff then its a good book. If you want a practical guide to savings money, seeing how your ripped off, and cutting the cost of your debts to pay them off quicker then its the MD

martin

JasonW_2

I bought Martins book, Alvin Halls Money for Life and The Money Secret at the same time and my conclusion is this:

Alvin Halls was OK, but it seemed to be all about him and his friends. He claims to have suffered financially in the past but keeps talking about limiting himself to 30 suits in his wardrobe or some other nonsense. He clearly has plenty of money now and a good number of rich friends! It wasnt what I was looking for, and didnt tell me anything I didnt know already. I read this after Martins book so was probably trying to compare the two, but this can't be done!

The Money Secret. Hmmmmm can't bring myself to read it, as Im not one for books normally, but bought these 3 books in a plan to get my debt. The text is pretty big, so it tells me there is even less to read in there than it looks, but I still dont want to read it. Maybe I will one day, but for now, I need practical advice and inspiration not theory and enlightenment.

The Money Diet. Anyone who hasnt bought this yet should be shot If I thought it was rubbish, I would say so and Im sure Martin would welcome a comment such as this if there was a constructive basis for it. However, of course I cannot say that, cos it is simply the best book I have read and has really taught me a few things. I used to use my credit card, pay the minimum and forget about it. I had LOADS of CC statements that I hadnt even opened, cos I knew what they were and didnt want to see them. It was a way of hiding from the problem and as long as I was paying the minimum every money whats the problem? After reading this, I honestly felt positive and was determined to change my ways, and in 4 short weeks I have saved quite a bit of money already. My credit isnt great so I cant take out the mega low APR loans and stuff, but by working with what I had, I got the bank of scotland to change my 18.9% card to 0% for 9 months, have paid off the balance on this card, and am in the middle of transferring 3k from a tesco card @ 17.9% APR to 0%, and will throw £300 a month at this to get it down as much as possible. Ive taken 2 months payment holiday from mortgage and have cleared off some other finance with the money, and managed to get an increase on my loan with bank of scotland so dont have any payments for 3 months. In a few months time, I will have less money in the bank but around £250 a month less in payments and interest, so will actually be able to save regularly instead of spending stuff. The one thing that made me stop and think that stands out from the whole book, is why bother to shop around for the cheapest then stick it on a credit card and pay interest... then interest on the interest and so on. Now, this isnt rocket science, but I ALWAYS shop around for the cheapest within reason, usually if its an exact product I want to buy, and have went somewhere else to save £5 on occasions, but has probably cost me £150 more overall. D'Oh! This made me realise the power of credit cards, and I had actually been treating it like my own money as if I had earned it.

My credit files are a mess, but that is mostly due to mistakes, inaccuracies and being linked somehow to my parents - OK they have perfect history, but it looks like I have loads more commitments than I actually have. I filed 18 disputes with experian in total which is disgusting. I have a person crusade against these companies. I do not trust them at all, and think they are a waste of time if their information is inaccurate. The info they provide is a large proportion of the basis for a decision which we know, but when they decline you, that makes you a worse risk right away as you now have a useless search on your file. You know the score on this anyway, so no point even going there.

JW

juliesutcliffe

I've just read the Money Secret and I think it is a fantastic book. It is most definitely not just an inspiring read. The whole book offers very practical advice and gives a step by step guide of exactly what to do to help yourself get out of debt. It is unconventional in that it is written in the form of a story but that should not stop anyone from understanding the content. Like Martins book it exposes the worst side of the credit card companies, banks and loan companies and it is very up to date on information as it has only just been published. I would suggest everyone should read this book. They will get alot out of it and some very useful contacts at the back.

The two things I got most out of this book was learning to work with cash as a short term solution to not over spending and learning about Credit Union.

walsgravematt

I am a fan of Rob Parsons anyway, this book simply further underlined that

He writes this book from an interesting perspective, and will certainly help those in debt - if you know someone who has a debt problem, this may be just the book to help them consider doing something about it (if they haven't already)

Can I also just mention another book that i am in the middle of, and already has brought me to really consider what i am doing in my life

It's called the "Sixty minute father" - if you are a working dad, then i thoroughly recommend it - especially if the work life balance seems somewhat out of control

For other books of Rob Parson's, see the charity website of "care for the family" He set it up with his wife Diane - (google check will find it)

Hope that is useful

WM