Breaking the "Broke" Cycle [Digital]
It’s 2022 and America is still in the midst of a lingering pandemic. Life as we knew it was upended March 13, 2020. Gone were the sports, entertainment, theaters, or large gatherings to distract us from the reality of the time we are living in.
While there is hope on the horizon that the pandemic is getting closer to an endemic, America’s financial picture remains in critical condition and in many homes is on life support. According to Experian’s 2019 Consumer Debt Study, total consumer debt in the U.S. is at $14.1 trillion, with Americans carrying an average personal debt of $90,460. Nearly 80 percent of American workers say they’re living paycheck to paycheck according to a report by employment website CareerBuilder.
Over ten years of facilitating a financial literacy and debt freedom course, Ed has seen a recurrent theme of why Americans don’t save more for their future and pay down debt.
Those ten recurring reasons are discussed in Breaking The Broke Cycle with alternative principles to help one navigate through the trenches of indebtedness and formulate a plan to living a debt- free life. These principles are critical for the student who wants to replicate the debt-free lifestyle Ed has enjoyed since retiring at age 55.
CONTENTS
Acknowledgments…………………………………………………………5
Introduction……………………………………………………………………7
Chapter 1: T.he Latest and Greatest…………………………31
Chapter 2: I.mpulse Buying………………………………………37
Chapter 3: M.oney Fire Alarm……………………………………48
Chapter 4: E.ating Out…………………………………………………54
Chapter 5: S.wipe n Go………………………………………………57
Chapter 6: J.oneses……………………………………………………60
Chapter 7: I. Deserve This Because.........................64
Chapter 8: B.orrowing From The Future…………………72
Chapter 9: L.ifestyle Creep………………………………………101
Chapter 10: $.ale…………………………………………………………108
ABOUT ED MILLER
Ed is a Registered Pharmacist. After spending thirty years in the pharmaceutical industry, he retired June 8, 2012- DEBT FREE. Since that time Ed’s passion has shifted to helping others live a debt free life. He is the Founding President of Money$ense by Ed where he serves as a debt freedom counselor. He works with groups, couples and individuals helping them win the race to debt freedom. He teaches Making Sense of Your Money (from his previous book by that title) a six weeks course on principles of financial literacy and debt freedom twice a year.
Ed lives in East Cobb Marietta with his wife of 40 years, Cathy. They are the proud parents of two grown daughters. They are also grandparents to 3 wonderful grandchildren.
It’s 2022 and America is still in the midst of a lingering pandemic. Life as we knew it was upended March 13, 2020. Gone were the sports, entertainment, theaters, or large gatherings to distract us from the reality of the time we are living in.
While there is hope on the horizon that the pandemic is getting closer to an endemic, America’s financial picture remains in critical condition and in many homes is on life support. According to Experian’s 2019 Consumer Debt Study, total consumer debt in the U.S. is at $14.1 trillion, with Americans carrying an average personal debt of $90,460. Nearly 80 percent of American workers say they’re living paycheck to paycheck according to a report by employment website CareerBuilder.
Over ten years of facilitating a financial literacy and debt freedom course, Ed has seen a recurrent theme of why Americans don’t save more for their future and pay down debt.
Those ten recurring reasons are discussed in Breaking The Broke Cycle with alternative principles to help one navigate through the trenches of indebtedness and formulate a plan to living a debt- free life. These principles are critical for the student who wants to replicate the debt-free lifestyle Ed has enjoyed since retiring at age 55.
CONTENTS
Acknowledgments…………………………………………………………5
Introduction……………………………………………………………………7
Chapter 1: T.he Latest and Greatest…………………………31
Chapter 2: I.mpulse Buying………………………………………37
Chapter 3: M.oney Fire Alarm……………………………………48
Chapter 4: E.ating Out…………………………………………………54
Chapter 5: S.wipe n Go………………………………………………57
Chapter 6: J.oneses……………………………………………………60
Chapter 7: I. Deserve This Because.........................64
Chapter 8: B.orrowing From The Future…………………72
Chapter 9: L.ifestyle Creep………………………………………101
Chapter 10: $.ale…………………………………………………………108
ABOUT ED MILLER
Ed is a Registered Pharmacist. After spending thirty years in the pharmaceutical industry, he retired June 8, 2012- DEBT FREE. Since that time Ed’s passion has shifted to helping others live a debt free life. He is the Founding President of Money$ense by Ed where he serves as a debt freedom counselor. He works with groups, couples and individuals helping them win the race to debt freedom. He teaches Making Sense of Your Money (from his previous book by that title) a six weeks course on principles of financial literacy and debt freedom twice a year.
Ed lives in East Cobb Marietta with his wife of 40 years, Cathy. They are the proud parents of two grown daughters. They are also grandparents to 3 wonderful grandchildren.
It’s 2022 and America is still in the midst of a lingering pandemic. Life as we knew it was upended March 13, 2020. Gone were the sports, entertainment, theaters, or large gatherings to distract us from the reality of the time we are living in.
While there is hope on the horizon that the pandemic is getting closer to an endemic, America’s financial picture remains in critical condition and in many homes is on life support. According to Experian’s 2019 Consumer Debt Study, total consumer debt in the U.S. is at $14.1 trillion, with Americans carrying an average personal debt of $90,460. Nearly 80 percent of American workers say they’re living paycheck to paycheck according to a report by employment website CareerBuilder.
Over ten years of facilitating a financial literacy and debt freedom course, Ed has seen a recurrent theme of why Americans don’t save more for their future and pay down debt.
Those ten recurring reasons are discussed in Breaking The Broke Cycle with alternative principles to help one navigate through the trenches of indebtedness and formulate a plan to living a debt- free life. These principles are critical for the student who wants to replicate the debt-free lifestyle Ed has enjoyed since retiring at age 55.
CONTENTS
Acknowledgments…………………………………………………………5
Introduction……………………………………………………………………7
Chapter 1: T.he Latest and Greatest…………………………31
Chapter 2: I.mpulse Buying………………………………………37
Chapter 3: M.oney Fire Alarm……………………………………48
Chapter 4: E.ating Out…………………………………………………54
Chapter 5: S.wipe n Go………………………………………………57
Chapter 6: J.oneses……………………………………………………60
Chapter 7: I. Deserve This Because.........................64
Chapter 8: B.orrowing From The Future…………………72
Chapter 9: L.ifestyle Creep………………………………………101
Chapter 10: $.ale…………………………………………………………108
ABOUT ED MILLER
Ed is a Registered Pharmacist. After spending thirty years in the pharmaceutical industry, he retired June 8, 2012- DEBT FREE. Since that time Ed’s passion has shifted to helping others live a debt free life. He is the Founding President of Money$ense by Ed where he serves as a debt freedom counselor. He works with groups, couples and individuals helping them win the race to debt freedom. He teaches Making Sense of Your Money (from his previous book by that title) a six weeks course on principles of financial literacy and debt freedom twice a year.
Ed lives in East Cobb Marietta with his wife of 40 years, Cathy. They are the proud parents of two grown daughters. They are also grandparents to 3 wonderful grandchildren.