This is another book which I picked up at the last Big Bad Wolf warehouse sale.
This is a personal finance book written by a woman for women. Most women make excuses as to why they are not actively involved in the management of their money and what this book does is tell women to stop being passive and start taking an active interest in managing their money.
This book is full of financial advice that are do-able. She gives a breakdown on how you should funnel your expenses according to the various expense categories:
Housing 35%
Saving 10%
Living 25%
Transportation 15%
Debt Repayment 15%
Housing includes not just the mortgage payment for your home but also the cost of living there such as taxes, insurance, utilities and repairs.
Living expenses include things like clothing, food, donations, entertainment, gifts, travel, etc.
Transportation includes not just payment for your wheels but also gas, insurance and maintenance.
Debt Repayment are payments for debt which don't include payment for your home or your car.
There are also maps to a million throughout this book that illustrates how much you'd earn if you put in a certain amount of money away to invest each month and shows what the amount will be in 10, 20, 30 and 40 years' time.
For example, if you could save $10 a day, which is $70 a week, and you put it away to invest at 8 percent, it would be 55,615 in 10 years, 179,062 in 20 years, $453,069 in 30 years and $1,061,266 in 40 years. Amazing, huh?
I'm inspired to save!!!
And oh, by the way, she has a website (click on the link) where you'll be able to find more money advice.
