Book Review: You Need A Budget

You Need a Budget book coverYou Need A Budget: The Proven System For Breaking The Paycheck-to-Paycheck Cycle, Getting Out Of Debt, And Living The Life You Want

How do you budget? Do you follow the 50-30-20 rule? Are you careful to pay yourself first? Do you tweak your budget each month to suit current needs and then play catch-up when you inevitably fall behind?

Or maybe you’re one of the thousands of people across the globe who have embraced the You Need a Budget (YNAB) approach and changed your relationship with money forever.

The YNAB methodology was introduced years ago through specialized software and a series of lectures by its creator, Jesse Mecham. Now you can read all about this brilliant budgeting method in the Wall Street Journal’s bestseller, You Need a Budget. There’s no need to purchase software or attend classes to incorporate the YNAB platform; it works perfectly well with an old-fashioned spreadsheet or even paper and pencil.

YNAB stands apart from most budgeting advice because of its innate flexibility. While traditional budgeting wisdom advocates using specific percentages of your income for different spending categories, Mecham is careful not to tell you what to do with your money. Instead, he encourages readers to design their own plans using YNAB’s Four Rules:

  • Give Every Dollar A Job. Designate a specific task for all the money you earn.
  • Embrace Your True Expenses. Budget for expected, but irregular, expenses like car repairs, insurance premiums and holidays. By building these into your budget, the large, occasional bills won’t throw you for a loop.
  • Roll With The Punches. Life is inherently dynamic, and your budget must follow suit. A flexible budget is sustainable and realistic.
  • Age Your Money. When you incorporate the first three rules, you’ll start having more funds to spare. Learn to stretch the time between earning a dollar and spending it so you can shatter the paycheck-to-paycheck cycle for good.

In You Need a Budget, Mecham examines those rules in detail while exploring the priorities that might be shaping your budget. He talks about budgeting as a couple, sharing expenses and teaching your kids about money management and financial responsibility. The book is packed with actionable advice and tips, and is sprinkled with personal accounts of people who have embraced the YNAB approach to budgeting.

Some readers don’t like the fact that the last of the four rules has been changed from “Live on Last Month’s Income” to “Age Your Money.” They claim the old rule was more measurable and effective and that the new one is too vague and harder to implement.

Most readers, though, find the book to be fascinating and transformative. If you’re wondering why thousands of people are avid followers of the YNAB budgeting platform, and you’re longing to stop living hand-to-mouth, read this book.

Your Turn:
Do you follow the YNAB approach to budgeting? Share your experience with us in the comments.

SOURCES:

https://money.usnews.com/money/blogs/my-money/articles/best-personal-finance-books-to-read

https://www.sixfiguresunder.com/you-need-a-budget-book-review/

https://www.amazon.com/You-Need-Budget-Paycheck-Paycheck-ebook/dp/B071Y2XSFN

Making Money Simple: The Complete Guide To Getting Your Financial House In Order And Keeping It That Way Forever

Making Money Simple book coverIt can sometimes feel like every decision we need to make revolves around money. How do we spend it? How much should we save? Where should we invest? How much do we need to retire? The endless stream of choices is enough to give anyone a throbbing headache!

Don’t let these decisions throw you into a panic. All you need for simplifying your money management is the proper framework for making smart financial decisions. The soon-to-be-released Making Money Simple provides that crucial framework to learn how to expertly and efficiently navigate your own finances.

Author Peter Lazaroff wants to gift readers with the foundation they need to make the proper personal finance decision in any circumstance or situation they might encounter. His book is a manifesto that will guide you through the ups and downs of your career, major milestones and the path toward growing your wealth. The framework for decisions he outlines in Making Money Simple is strong enough to get you through anything your financial life throws at you, even the most challenging circumstances where there are no hard rules at play.

Read Making Money Simple and you’ll be empowered to create your own plan for financial success, drawing on proven wealth management techniques and real-life strategies. You’ll learn about core economic principles and expert-level investing practices. You’ll study financial topics of every kind and read Lazaroff’s advice culled from his years as chief investment officer of a multibillion-dollar wealth management firm. And finally, you’ll be empowered with the tools you need to make managing your personal finances simple.

You don’t need detailed spreadsheets or complicated investment strategies to get your financial life in order; you simply need a process to help you understand your finances and make them manageable.

Making Money Simple will show you how to:

  • Create financial goals and plan for your future.
  • Understand the three core elements of building a strong financial house.
  • Implement effective investment strategies.
  • Learn the 10 questions to ask when hiring financial professionals of any kind.

Making Money Simple will help you achieve financial wellness and secure your future success.

Your Turn:
Do you think money management can truly be simple? Or, will personal finances always be challenging to navigate? Share your thoughts with us in the comments.

SOURCES:

https://books.google.com/books/about/Making_Money_Simple.html?id=4q3xtgEACAAJ&source=kp_book_description

https://www.amazon.com/Making-Money-Simple-Complete-Financial/dp/1119537878/ref=mp_s_a_1_34?ie=UTF8&qid=1548732981&sr=1-34&pi=AC_SX236_SY340_QL65&keywords=personal+finance+books&dpPl=1&dpID=415SQGYM8uL&ref=plSrch

Plant Your Money Tree: A Guide To Growing Your Wealth

plant your money tree coverWouldn’t life be fantastic if you had that mythical money tree growing in your backyard?

Short of planting a tree that actually sprouts dollar bills, learning how to boost your income and investing wisely is the best thing you can do for your finances. And the soon-to-be-released Plant Your Money Tree, by Michele (Mish) Schneider, will show you how to do exactly that.

In clear and easy-to-understand language, Mish takes readers on a journey through the six significant sectors of the U.S. economy as seen through six market phases: bullish, caution, distribution, bearish, recuperation and accumulation. She demonstrates how to identify these phases and understand their interconnectivity, and illustrates to readers why this all matters.

Mish uses a light, chatty tone throughout the book, proving that anyone can grasp the basics of the economy and how to grow wealth, regardless of their financial and educational background. She strongly believes that knowledge is power. In her book, Mish endeavors to empower readers with the knowledge to make confident, educated decisions about personal finance.

In Plant Your Money Tree, you’ll learn how to make informed decisions about your money, including:

  • What to do with your money
  • How to help your money grow
  • When and how to make financial life decisions, such as a career change, business expansion, buying a house and increasing your monthly savings inputs
  • How to invest in the future and capitalize on social trends
  • How to manage and maximize your existing portfolio and 401K

Mish also offers readers an investing methodology that is evergreen and easily adaptable to every market scenario. There is no such thing as a losing market for Mish; her strategy shows investors how to reap handsome profits in any market condition. Her book is an invaluable resource for beginner investors and seasoned experts alike.

In Plant Your Money Tree, Mish draws on her years of experience as director of trading, research and education at MarketGauge.com, a financial publishing company founded by her husband Keith, and his partner, Geoff Bysshe. She weaves real-life examples, charts, and history throughout the book to prove her points and create the masterpiece that can guide you to success.

Your Turn:
What’s your favorite investing book? Tell us about it in the comments.

SOURCES:
https://www.amazon.com/gp/aw/s/ref=is_pn_1?fst=as%3Aoff&rh=n%3A283155%2Ck%3Apersonal+finance+books&page=2&sort=date-desc-rank&keywords=personal+finance+books&ie=UTF8&qid=1548732533

https://rowman.com/ISBN/9781538122570/Plant-Your-Money-Tree-A-Guide-to-Growing-Your-Wealth

Book Review: A Random Walk Down Wall Street

Arandom walk down wall streeet , black sa-serif text over marigold yellow background.Some investments take months, or even years, to pay off. And some can pay for themselves almost instantly.

Burton G. Malkiel’s classic investing book, A Random Walk Down Wall Street, is an investment that will pay for itself as soon as you read it and apply its theories in your own life.

A Random Walk Down Wall Street has long been touted as the ultimate guide for every investor and the single purchase to make before building a portfolio. More than 1.5 million copies of this must-read investment book have been sold to date. In today’s volatile market, the ageless lessons between the flaps of this book are more applicable than ever.

Malkiel’s book is built on the premise that the stock market works efficiently, and investors should capitalize on this efficiency instead of killing their time and wasting their money trying to exploit the inefficiencies in the market. It’s packed with insight on classic investments like stocks, bonds, real estate investment, trusts, home ownership, tangible assets and more. A favorite section of A Random Walk Down Wall Street is its life-cycle guide to investing, which is a clear roadmap through life’s investment stages. The book is written in a factual, authoritative tone that empowers the reader to invest with confidence.

Malkiel’s updated version, released in time for 2019, features his perennial advice on traditional investing topics along with measured guidance for navigating a slew of modern financial concerns.

The revised edition of A Random Walk Down Wall Street includes Malkiel’s take on these timely topics:

  • Tax-loss harvesting
  • Understanding and navigating the bitcoin bubble
  • Automated investment advisors
  • Factor investing and risk parity

A Random Walk Down Wall Street is a brilliant blend of the theoretical and the practical. The updated version promises to be as big a hit as the original edition. Pick up your copy today and learn how to walk down Wall Street with confidence.

Your Turn:
Have you read A Random Walk Down Wall Street? Share your thoughts on this classic investing book in the comments.

SOURCES:
https://www.goodreads.com/book/show/900892.A_Random_Walk_Down_Wall_Street

https://www.thesimpledollar.com/review-a-random-walk-down-wall-street/

Book Review: Everyday Millionaires: How Ordinary People Built Extraordinary Wealth–And How You Can Too

Everyday Millionaires How Ordinary People Built Extraordinary WealthMoney conversations can be super-depressing. Everything you read tells you that the “Great American Dream” has faded into oblivion. Everyone you talk to says that only the rich-born can get ahead and make it to the top. We ingest these lies without thinking twice. They become part of our belief systems and kill our ambition, effectively destroying any chance we have of becoming financially successful.

Get ready to read about the truth.
In Chris Hogan’s book, Everyday Millionaires: How Ordinary People Built Extraordinary Wealth—and How You Can Too, he destroys the most common millionaire myths that prevent ordinary people, like me and you, from achieving and maintaining financial independence.

Hogan is a #1 national best-selling author, the host of The Chris Hogan Show, and a dynamic speaker who lectures nationwide about personal and business money management. He also serves as a beloved financial coach and Ramsey Personality at Dave Ramsey’s Ramsey Solutions company.

Everyday Millionaires is the culmination of comprehensive research on more than 10,000 American millionaires—and the results might shock you.

Here are some of the surprising revelations in Everyday Millionaires:

  • There is no secret sauce for becoming a millionaire.
  • Most millionaires in the U.S. were not born rich.
  • You don’t need to have a high-paying job to achieve millionaire status.

Hogan and the Ramsey Team show the world that building extraordinary wealth is not reserved for those hailing from a privileged background or holding down high-paying jobs. Instead, true wealth is a product of living with responsible principles, like spending within your means, avoiding the debt trap, investing wisely and exercising discipline with your money.

There is no carefully guarded secret behind the nation’s most successful people. It doesn’t take a fantastic stroke of luck, a sizeable inheritance or a 7-digit salary. Anyone and everyone can achieve financial independence—and even millionaire status—by following Hogan’s guidelines while living responsibly.

Learn how to think like the rich and you just might be the next everyday millionaire.

Your Turn:
Do your personal experiences reflect Hogan’s research? Were most of the rich people in your life born wealthy or did they build their own net worth through responsible living and hard work? Share your thoughts with us in the comments.

SOURCES:
https://www.amazon.com/Everyday-Millionaires-Ordinary-Extraordinary-Wealth_and/dp/0977489523/ref=mp_s_a_1_9?ie=UTF8&qid=1539743871&sr=1-9&refinements=p_n_publication_date%3A1250228011&pi=AC_SX236_SY340_QL65

https://www.goodreads.com/book/show/41074642-everyday-millionaires

https://www.daveramsey.com/store/product/everyday-millionaires-book-by-chris-hogan