Money Saving Expert Advice

What Money Gurus Say About Debt

Looking for money saving expert advice on debt? Some of the best money gurus have a lot of harsh words where debt is concerned. Learn what your favorite financial guru has to say and stay a stay at home mom.

Have you thought about finding out what a money saving expert says about debt? It's easy to have misconceptions about debt, especially with all the myths that are floating around about debt. It's time that you eliminate those misconceptions you have about debt and begin learning what money gurus have to say. Maybe you think that debt is necessary or that debt can help you achieve your dreams. If so, it's time you learned the truth. To help you find out more about debt from a quality money guru, here is a look at some of the top money saving expert advice that can help educate you on debt while being a stay at home mom.

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How Do the Top Money Saving Experts in America View Debt?

With being a stay at home mom, more than likely, you aren't a money guru or expert on debt. For this reason, taking the time to learn more about debt from the best experts out there is a great idea. Three of the top experts in finances today are Dave Ramsey, Mary Hunt, and Suze Orman. Let's take a closer look at what these top experts have to say about debt and the money saving advice that they have to offer.

Money Saving Expert: Dave Ramsey
According to Dave Ramsey, a top money saving expert, one of the biggest myths about debt is that it is a tool that should be used to help create more wealth.

You may have the idea that wealthy people use debt to create more wealth. However, the truth that this money guru points out is that wealthy people don't really use debt as much as you probably think that they do.

Ramsey actually feels that "debt is dumb." When you're in debt, it basically leaves you as a slave to your creditors and you don't have financial freedom to use money to help change your life and build your finances.

Statistics show that most Americans are deep in debt, including car payments, mortgages, and credit card debt. Financial guru Ramsey points out that if you simply eliminated one source of debt, such as a car payment, you could be putting that money away towards retirement, building up your wealth.

This is the way that wealthy people are actually able to build up their wealth. Dave Ramsey himself was taught that debt was a tool and that using others people's money could lead to prosperity.

This is a big myth that is commonly believed. However, Ramsey views debt as a big risk that is larger than any advantage that debt can offer. Through personal experience that left him bankrupt, he learned that debt is bad and getting out of debt and avoiding it in the future is essential.

Money Saving Expert: Mary Hunt
Another top money guru in the United States today is Mary Hunt. She tells the story of how she first was caught up in debt, feeling that credit cards brought with them a higher status.

While it started out innocently, it began to build up as she and her husband were approved for more and more credit cards. Soon they hit rock bottom and they had to take a close look at their spending habits as well as how they ended up in such huge debt.

As they began reversing their spending habits and cutting back on spending, they were able to get out of debt over 13 years. After getting out of debt herself, money saving expert Mary Hunt now helps other people get out of debt and stay out of debt.

Her plan know as "Debt Proof Living" teaches people how to get out of debt. She believes that not only do you need to eliminate debt, but you need to learn how to live below your means as well while being a stay at home mom.

Money Saving Expert: Suze Orman
You've probably heard about Suze Orman, one of the top money saving experts in the country today. However, you may be surprised to find out that she started out with language problems, a waitress only making about $400 a week, and getting scammed by a large bank.

Getting started as a financial broker, she began to learn more and more about financial topics, including debt management. Today she is one of the top financial minds in America.

According to money guru Suze Orman, credit card debt in the country is now at epidemic proportions. If you have been caught up in this epidemic, she feels that it's imperative to get out of debt and to never let it happen to you again.

On her website, she offers step by step advice for eliminating debt and other excellent financial advice. Which is great while being a stay at home mom.

One important thing she focuses on is what happens after you get out of debt. She finds it important to begin taking the money that you used to apply to debts and start saving it for your future. This way you not only eliminate debt, but you create an great financial future by building wealth too.

Each money saving expert definitely points out that debt is bad. It is not a tool you should be using to try to create wealth another way. In almost every case, debt ends up having more negative results than positive ones.

If you are dealing with debt, take a look at all the advice and information given by each money guru. Getting out of debt is the only answer if you want a secure financial future. Working to eliminate debt is one of the best pieces of money saving expert advice that you can take while being a stay at home mom.

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Related Pages

Financial Freedom: The True American Dream

Different Types of Debt

How to Live Debt Free

How to Get Out of Debt

How Debt Consolidation Works

About Payday Loans

Myths About Your Credit Report

Consequences of Poor Credit

About Bankruptcy

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