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Book Review: You’re Broke Because You Want to Be

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A few months ago, I was contacted by Mary Winget, and she asked me if I was interested in reading and reviewing, “You’re Broke Because You Want to Be” (aff. link). If the last name sounds a little familiar, that is because she’s the wife of Larry Winget. I’ve mentioned him on here before when I briefly talked about his show on A&E called Big Spender. I watched a few clips of his TV show, and I was pretty impressed with what I saw. To be able to read his book was an offer I couldn’t refuse.

First things first, Larry is called “The Pitbull of Personal Development” for a reason. He is a pitbull because he doesn’t hold back. He tells things like he sees it and if he makes you cry he thinks that is a good thing. That initially turned me off a bit. While I don’t mind constructive criticism, if someone just starts bashing your actions for the sake of bashing them…well, I don’t care for that much. Larry is different, though.

In this book, he does break you down a bit. He wants you to feel down, so he can build you back up with the main goal being that you will be able to better your financial situation. Some people may not be receptive to this tactic, and I am usually one of them. But Larry’s words didn’t bother me because even though he dishes out some tough love, you can tell that he is passionate about what he does and he genuinely wants to help others with his book. To me, an author like that is one worth reading.

I also like to read authors who write from experience. Larry has been broke in his life more than once. He’s been broke, became rich, went bankrupt, and then became a millionaire. He’s been around the financial block so he’s coming from the angle of being there. He shares bits and pieces about his past and I enjoyed that. He covers many different angles as to why you are broke (not making enough money, spending too much money, attitude) and then at the end of the book offers success stories of those who were once broke and overcame it.

Overall, if you have been reading about personal finance for a while and have already started improving your situation, you may find some parts of this book “old news.” Larry has included basic worksheets to complete to get you thinking about your situation. There’s one about your income and expenses and there’s even a little section where you can write down all of your excuses why you are broke. While this book is about your finances, and Larry includes some good tools to get you started, I think what Larry has to say about why you are broke can be a real eye-opener.

On the other hand, if you are in financial trouble and don’t know where to turn, you might want to visit the library and give “You’re Broke Because You Want to Be” (aff. link) a read. It is also a book that I would recommend to a friend if they told me they were having financial troubles. I feel it is a great starting place to 1.) Get motivated to change your situation and 2.) Learn techniques to improve your situation.

Overall, this book would have been a great one for my first year of college. I was broke back then, and in hindsight, I didn’t have to be. I’ll never know for sure if reading this book would have made a difference but I have a feeling that it might have. Larry is definitely a motivator.

So far, there are a few other bloggers who have read and reviewed the book as well:

Cash Money Life (he’s giving away his copy!)
Blueprint for Financial Prosperity

As for my copy? Stay tuned πŸ™‚


17 Comments

  • Reply Kuwaiti Woman |

    I found your blog through blog hopping. I enjoyed reading your review of the book but I was wondering if you would recommend it for a person like me. I’m always broke and don’t have a background in personal finance, but I’m trying to change that around in 2008. Thankfully I am starting out debt-free but haven’t got the first clue about investing. Does it have any useful tips for a newbie?

  • Reply Patrick |

    I thought the same thing about the book – it’s a great place to start if you want to get out of debt don’t know what to do next. I also really like Larry’s no-nonsense attitude, but that may not be for everyone.

    Thanks for the mention. πŸ™‚

  • Reply Rob Madrid |

    Kuwaiti Woman are you an American working in Kuwaiti?

    Being debt free is a great start, your miles ahead of most people. My only investing advice is to keep it simple and consistent and regular. Time is your friend, debt is your enemy.

    Besides that a few blogs (besides this one)you may want to check out are http://www.simpledollar.com and http://www.wisebread.com both are excellent starting points.

    good luck

  • Reply Matt |

    Tricia, you’re the 3rd positive review I’ve read of this book in the last 24 hours! I was hoping you’d review the book since you’re doing an amazing job of getting out of debt and if you had something negative to say about the book and the message then that would impact my decision to read it.

  • Reply Jim ~ mydebtblog.com |

    I might have to check out this book. The no-nonsense attitude and tell it like it is method is something I like. People like Donald Trump and Gordon Ramsey are known for being very direct with their opinions. I need my wife to read the books too for us to get anywhere.

  • Reply fiveberries |

    I’ve been watching Big Spender since you blogged about it, and I think Larry is just the bee’s knees. Thanks for the great review, and for starting me on his fun show!

  • Reply Amy |

    I will have to check this out. I enjoy the series on A&E. I appreciate the fact that he isn’t afraid to call people out on what the are doing wrong. Kind of like a Dr Phil for the PF crowd πŸ˜‰

  • Reply Eric |

    I’m excited about the book. I’m trying to win a copy, because I’m a big fan of not paying for anything hehe. Of course I might just have to wait for it to hit the library.

  • Reply Eric |

    I’m excited about the book. I’m trying to win a copy, because I’m a big fan of not paying for anything hehe. Of course I might just have to wait for it to hit the library.

  • Reply Michelle |

    I’ve heard some awesome things about this guy. I haven’t seen Big Spender yet, although I’ve been planning on checking the tv listings to see when it comes one.

So, what do you think ?