Reviewed by Rachel Osbourne
Money Bondage by Sophie Bennett is a book aimed at helping women get out of debt and achieve financial independence and wealth. Although it is aimed at women, men would also be able to benefit from reading this book.
After the initial introduction, where Sophie describes her ‘bacon moment’ (this will make sense when you read the book!) when she was forced out of denial that everything was OK, and to acknowledge her debts really were a problem, the book is split into two sections.
Section 1 – thinking your way to wealth, looks at our relationship with money, and where our ideas and beliefs about money stem from. It makes us think about what money really means to us, and about the way we see and treat money. Also it discusses the way we see a link between our happiness and money, and the influences which strengthen the link between the two in our minds. It encourages us to not just look for the quick fix, but rather to focus on the long term, and to enjoy the journey and grow as a person while we are sorting out our finances. It is about taking control, and finding an aim to focus on, so that we have the incentive there to keep going, even when things don’t go to plan.
Section 2 – Debts and Spending, gives a brief explanation of the real cost of debts, how interest rates are added, and how long debts will take to pay off if you only pay the minimum payments – scary stuff! It discusses how debts are just thought of as a ‘normal’ part of life now, and young people are encouraged to take on debt. There is advice on the best way to pay off existing debts, and to start saving and budgeting to enable you to do this.
The book is written in a way that is very easy to read, it is almost as if the author is there chatting with you. She is writing from her own experience, so she doesn’t come across as patronising or bossy. She shares her own experiences, and also dotted throughout the book are stories of other real experiences. I also liked the fact that there were quotes at the beginning of each chapter, which really made you think. A lot of what is written is common sense, and probably what we already know, but just because you know something, it doesn’t mean you are going to act on it! It is written in a way that makes you sit up and take notice, and really believe that you can achieve what before hadn’t seemed possible.
Rating: 5/5
RRP: £12.95
Available to buy from Amazon here.
