The most popular question Alvin Hall is asked is "Where does my money go?" In this updated edition of his bestselling financial guide, Alvin helps everyone get their finances in order. Helping you to understand your money psychology, Alvin beats a clear pathway through the financial maze of mortgages, insurance, and pensions, provides a practical understanding of credit card debt and interest rates, and advises how to set up balance sheets for budgeting personal finances. Here is the easy-to-follow advice for a brighter, sounder financial future.
The edition of this book that I have is 24 years old, and is fairly dated. The methodology the authors use for tracking daily expenditures and budgeting has been greatly simplified since then by tools such as Quicken. I found their methodology for tracking spending way too complicated and I know I would never do it on a daily basis, but their logic is sound: if what you are doing every day is taking more out of your total real energy (not just money), you shouldn't be doing it. I have read many other books about financial planning that state this far more elegantly using much simpler tools, but I expect the current edition is updated to use these tools, so I didn't spend much time with this one.
This is a really good book for financial advice from managing debts, controlling spend, savings, investing, pensions and insurance. The advice is clear and easy to understand, you can imagine Alvin's voice as you are reading it. I have taken on a few of the points he has spoken about to improve my own short and long term financial situation. This book does need to be updated as it is now 12 years old and some things have changed
Only about 40% of this book applied to me but for someone who has difficulty dealing with anything financial, it was perfect. The language is simple and to the point and everything is set out very clearly. I would recommend it for anyone needing to get a handle on their finances.
A great starting point for someone looking to build a better financial future for themselves. Short enough that you won't get bored reading it, and full of examples, I enjoyed it. While some content was pretty basic, the holistic approach to financial management had a few nuggets that were new to me.
I have read many personal finance books. Perhaps that is why I didn't find this book as appealing. Nothing mentioned is new or interesting, except perhaps for the practical tips on finding ways to save extra cash and stick to your financial plan.