Financially Stupid People Are Everywhere

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Financially Stupid People are Everywhere

Don’t Be One of Them

By Jason Kelly

Bestselling Author of “The Neatest Little Guide to Stock Market Investing”

In their coverage of the subprime mortgage crisis, most media focused blame on government and banks while portraying people who borrowed too much as innocent victims. That needs to stop. Too many Americans serve as willing pawns in every financial scheme. They don’t realize that the traps they fall into are set for them deliberately, and will never go away because tricking financial dimwits is so profitable. Wise up, Americans!

If you don't actively resist America's culture of debt, you'll end up precisely where the government, banks, and big business want you to be: indentured servitude. You're up against a money-sucking culture that's been built through one hundred years of collusion. From slippery credit card contracts to bad bank deals to pervasive advertising to the redirecting of your tax dollars into corporate crony coffers, they're out to fleece you every darned day in every darned way.

Financially Stupid People Are Everywhere: Don't Be One of Them (Wiley; June 2010; $19.95; Hardcover) leads you through the flimflammery. It exposes the American economy for what it is: a vehicle to transfer money from financially stupid people to financially smart people. In true stories of ordinary Americans, the book reveals how the system works against you — and how to counteract it.

In tough language, Kelly outlines what you can do to stop borrowing and spending, and how people failing to follow these rules allowed the subprime crisis to develop. We must stop blaming only the institutions that have a record of failing us, take responsibility for our part in the mess, and achieve financial freedom for ourselves by managing our own money correctly. The book's message is a positive one: don't let the shenanigans of government, banks, and big business trap you.

Page by page, Financially Stupid People Are Everywhere:

            Discusses why following the First Rule of Finance—spending no more than 80 percent of your take-home pay—is essential to get you headed in the right direction

            Introduces you to the Three Cs—credit cards, cars, and castles—and why they are the serial killers of financial lives, and how to control them with a bullet-proof plan

            Explores non-financial-sector threats to your wealth, and why they’ll never go away

            Reveals that your whole life comes down to how you answer one question: Will I live in debt or will I live free? Read this book, and live free.

Jason Kelly is editor of The Kelly Letter and author of eight books, including the bestseller The Neatest Little Guide to Stock Market Investing. He graduated in 1993 from the University of Colorado at Boulder with a Bachelor of Arts in English. He currently lives in Sano, Japan, north of Tokyo. Find his latest ideas and join his free e-mail list at www.jasonkelly.com.

Financially Stupid People Are Everywhere

Don’t be One of Them

By Jason Kelly

Wiley; June 2010; $19.95; Hardcover

ISBN: 9780470579756