Thursday, February 22, 2007

Michael Mihalik, author of Debt is Slavery interviewed on Money Blogger Podcast


My guest for this podcast is Michael Mihalik. He's the author of a new book, Debt Is Slavery.

Michael's story starts in a common way: he got his first credit card in high school, and soon started spending beyond his means. After college he got a good job, which led to a higher credit limit, allowing him to spend even more.

Much of what Michael bought with credit were things of no lasting value. He realized he was left mostly with debt, not things, and ultimately he felt enslaved by the debt.

Michael turned things around and found his way out of debt by achieving a mental shift in his view of money. He describes some of this experience in the interview, and gives us a preview of the 10 of the lessons about money that he learned. You can read them all in Debt is Slavery, and 9 Other Things I Wish My Dad had Taught Me About Money.

You can purchase Debt is Slavery at


Blogger Tim Moon said...

Nice interview of Mihalik. I thought his book was pretty interesting. I reviewed it on my blog. Keep up the good work!

11:49 PM  
Anonymous Anonymous said...

Michael and I seem to have a lot in common. Nice to know there are 'others' out there who get it. To me, debt is slavery to the master. You can check out my blog at

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Great idea for a blog. Keep it up!! :-)

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Blogger Tyson said...

Debt is not slavery. Debt is stupidity. If you are smart enough carrying a little balance won't hurt you

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Great interview. Debt IS slavery. That makes most Americans slaves, right now, today. I think the next wave of defaults will be unsecured debt defaults. Coming soon as a depressing headline hear you.

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Anonymous Anonymous said...

Very interesting book really... and I agree debt is not slavery is just a really bad move,,,

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Blogger seranapearlin said...

It is wonderful job done by Michael Mihalik that they take a session on debt and debt relief, many people does not much familiar about it so this is a best note for it.
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Blogger about annuities said...

Good article, this has happened to alot of us credit is just to easy to obtain or I should say it was!

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Blogger about annuities said...

We all need to follow his guidelines and all get out of debt at the same time.

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Blogger about annuities said...

Good interview, nice to know others believe what i believe.debt is slavery.

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Blogger about annuities said...

Great interview, keep up the nice job!

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Blogger about annuities said...

I agree debt is not slavery it is stupity that we let our selves get into.

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Good article, on debt solutions, thanks we can all use the help.

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Good read just not sure I agree with debt being slavery,personally I think it is the economy and the me generation.

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Nice interview, with a lot of good points I am not sure to which opinion a i am partial to I will have to think on this a while, but I enjoyed reading your post.

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Blogger Jojo P. said...

I don't think having debt is good at all unless you had important things to spend or emergency purposes. As much as possible try to avoid debt it won't help us at all but it will ruin our lives when it's worst.


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