Zero Debt, Break the debt cycle and reclaim your life is wonderfully simple and simply wonderful book by Neeraj Deginal. This is the real life story of a man who was crushed under endless EMIs. It narrates us how he was neck deep in debts and how he came out of it to become cent percent debt free. I am sure most of us, who bought a home to save tax, bought second home as an investment, purchased a car because it was on EMIs and are left with paltry salary after all the deductions, will be able to relate to his case. The book states how real estate investment is not always a profitable proposition. The author has incurred losses in all his real estate investments. ‘Buying was always easy; however it is very difficult to sell a real estate property.’ He says.
The book highlights how both the schools and families fail to impart any sort of financial education, and how as earning adults we have to pay the price for it.
The book is extremely well written. The language is simple, yet riveting. The editing is superb. The book is divided into several short chapters. Apart from finance it also covers health and simplification of life. In the words of the author, ‘the overall objective is to celebrate life, enjoy life’. The book is interspersed with quotes like ‘If you don’t find a way to make money while you sleep, you will end up working until you die – Warren Buffet’ and ‘The three most harmful addictions are heroin, carbohydrates and monthly salary – Nicholas Taleb.’ However I wasn’t able to digest one particular averment in the book. ‘Fixed Deposit attracts 30% tax on the interest earned, irrespective of years deposited.’ This cannot be a blanket statement and the tax on fixed deposits depends upon in which tax bracket you fall.
Another startling fact about this book is that it is a copyright free book. Though the book is based on the personal experiences of the author, according to him the ideas are not original. The objective of this book is to offer help and hence the readers are free to copy or reprint any content from it.
So if are struggling on the financial front this book could be your saviour.