What do you think?
Rate this book
Adams 101
Budgeting 101: From Getting Out of Debt and Tracking Expenses to Setting Financial Goals and Building Your Savings, Your Essential Guide to Budgeting
“Cagan makes the case that a budget isn’t a buzz killer. It’s financial salvation.” —The Washington Post
Don’t break the bank—learn to create and stick to a budget with this comprehensive, easy-to-understand guide to saving money sensibly in this edition of the popular 101 series.
Sometimes, it can seem like saving money is impossible. With everyday expenses, from groceries and gas, to the electric bill and lunch money, as well as those unexpected expenses, like car repairs and medical bills, getting—and keeping—control of your finances can feel overwhelming.
With Budgeting 101 , you can start saving now. This clear and simple guide provides tons of practical advice for keeping track of your finances. With useful tips on setting financial goals, reducing debt, finding ways to save money, and creating and following a budget plan, you’ll have your dollars and cents under control in no time.
Why spend more of your hard-earned money on a financial advisor? Filled with expert advice on a wide range of the most common financial concerns and step-by-step instructions to managing your money both now and in the future, Budgeting 101 has you covered.
Don’t break the bank—learn to create and stick to a budget with this comprehensive, easy-to-understand guide to saving money sensibly in this edition of the popular 101 series.
Sometimes, it can seem like saving money is impossible. With everyday expenses, from groceries and gas, to the electric bill and lunch money, as well as those unexpected expenses, like car repairs and medical bills, getting—and keeping—control of your finances can feel overwhelming.
With Budgeting 101 , you can start saving now. This clear and simple guide provides tons of practical advice for keeping track of your finances. With useful tips on setting financial goals, reducing debt, finding ways to save money, and creating and following a budget plan, you’ll have your dollars and cents under control in no time.
Why spend more of your hard-earned money on a financial advisor? Filled with expert advice on a wide range of the most common financial concerns and step-by-step instructions to managing your money both now and in the future, Budgeting 101 has you covered.
256 pages, Hardcover
First published November 1, 2018
819 people are currently reading
2280 people want to read
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 30 of 86 reviews
January 11, 2022
Possibly the most eloquent, all-inclusive, gentle book on money in ever read. Reminiscent of Psychology of Money (which I also loved) but with more definitive, practical advice.
This goes deep into why we spend money, the emotional and mental side of it, and how to climb out of a financial crisis — all without even a hint of judgement. It was pretty awesome. I’d love to read more by this author & in this series!
This goes deep into why we spend money, the emotional and mental side of it, and how to climb out of a financial crisis — all without even a hint of judgement. It was pretty awesome. I’d love to read more by this author & in this series!
August 29, 2021
This book is pretty close to what was advertised by the title. People should read a book like this every few years. Doesn't sound exciting, but it reminds you of good habits. I came away with a list of about 10 things I should probably do to improve my retirement/financials. Good book.
October 15, 2019
Bukunya bagus banget mengajarkan tentang budgeting dan gw merasa ini skill yang penting dan mendasar. Sayangnya ga di ajarin di Indonesia. Budgeting bukan artinya lo hidup irit2 banget tapi, lo udah rencanakan apa kemana lo menghabiskan uang lo.
Harus habis uangnya.
Disini diajarin tentang invest, nabung, mengurangi pengeluaran ( terutama biaya admin dan pajak) sebelum mengurangi kebutuhan dan kesenangan.
Buku ini bagus banget untuk semua usia. Seandainya gw belajar ini dari SMA 😅
Harus habis uangnya.
Disini diajarin tentang invest, nabung, mengurangi pengeluaran ( terutama biaya admin dan pajak) sebelum mengurangi kebutuhan dan kesenangan.
Buku ini bagus banget untuk semua usia. Seandainya gw belajar ini dari SMA 😅
January 25, 2023
TLDR: You can be an investment genius, however-
Accumulating Wealth starts with managing and mastering your Personal Finance. Less Debt + More Assets > Financial Flexibility = More Freedom. Now how do you achieve that?
This book is a must for everyone, and I will for sure give it to my future kids when they turn 16. Michelle Cagan, CPA will guide you all the way from building a budget, to saving and investing to successfully reach your financial goals. This book simplifies the process with eye opening data, useful resources and personal finance hacks that are easy to follow long term. The earlier you know this advice in life, the better. 5/5
Accumulating Wealth starts with managing and mastering your Personal Finance. Less Debt + More Assets > Financial Flexibility = More Freedom. Now how do you achieve that?
This book is a must for everyone, and I will for sure give it to my future kids when they turn 16. Michelle Cagan, CPA will guide you all the way from building a budget, to saving and investing to successfully reach your financial goals. This book simplifies the process with eye opening data, useful resources and personal finance hacks that are easy to follow long term. The earlier you know this advice in life, the better. 5/5
August 15, 2023
الكتاب من تأليف شخص يحمل شهادة ال CPA شهادة محاسبة أمريكية
و هو امر جيد ..انه ملم ب الموضوع ...الامر الغير جيد انه اسلوبه جاف و ممل فهو اشبه ب كتاب مدرسي "منهج اكاديمي"
السيء فى الموضوع ان الكتاب مقالش حاجة جديدة ..
الجيد فى الموضوع ان شخص بالشهادة دي ف الموضوع دا "الميزانية" و مأضفش جديد
ف دا شيء جيد يعنى معرفتي ب الموضوع مش بطالة
فصول الكتاب عن
مقدمة
1 ==مبادئ الميزانية
2 == معرفة وضعك المالي
3== كيفية انشاء ميزانية تجعلك تعيش
4== تقنيات الميزانية
5 == طرق لزياد الدخل ↑ و تقليل النفقات ↓
6 == مسؤلية الديون
7 == إعادة بناء الميزانية
ملخص الكتاب
الكتاب القادم : شيرلوك هولمز سجين فوق العادة
و هو امر جيد ..انه ملم ب الموضوع ...الامر الغير جيد انه اسلوبه جاف و ممل فهو اشبه ب كتاب مدرسي "منهج اكاديمي"
السيء فى الموضوع ان الكتاب مقالش حاجة جديدة ..
الجيد فى الموضوع ان شخص بالشهادة دي ف الموضوع دا "الميزانية" و مأضفش جديد
ف دا شيء جيد يعنى معرفتي ب الموضوع مش بطالة
فصول الكتاب عن
مقدمة
1 ==مبادئ الميزانية
2 == معرفة وضعك المالي
3== كيفية انشاء ميزانية تجعلك تعيش
4== تقنيات الميزانية
5 == طرق لزياد الدخل ↑ و تقليل النفقات ↓
6 == مسؤلية الديون
7 == إعادة بناء الميزانية
ملخص الكتاب
الكتاب القادم : شيرلوك هولمز سجين فوق العادة
December 26, 2024
Really helpful advice in an easy to read book. Haven’t implemented the advice yet, even though I’ve found my spending triggers (sales).
January 8, 2020
I suck at knowing where my money is and how much I'm spending on things. It's a goal of mine this year to keep better track of my money, so this book. Working on creating a budget and then tweaking and sticking to said budget.
Full review at: http://tinynavajoreads.wordpress.com/
Full review at: http://tinynavajoreads.wordpress.com/
March 25, 2020
Not a financial literacy book I’d recommend—it doesn’t progress logically from one concept to another, and has all of these annoying blocks of definitions as asides that have nothing to do with the content on the page. It’s confusing.
April 7, 2023
Pretty USA oriented and many of the tips and suggestions won’t work 1-1 on our case, but some of them can be easily “translated” to our reality. Easy to read and encourages you to credit - debt free budgeting. For me, as beginner, it’s very useful to get a general understanding of how the budgeting works, how to maintain, what to prioritise and where to put your money first.
Still, I’d like to test some of it in practice, but in general the book gave me a positive impression 🙌🏻
Still, I’d like to test some of it in practice, but in general the book gave me a positive impression 🙌🏻
December 26, 2019
This book is really written for someone younger -- perhaps a recent college grad or a newly wed, but I found it quite helpful. It's helped me in terms of thinking about what I sacrifice when not spending wisely. The writing is very clear and easy to digest. Overall a helpful read.
![Profile Image for Ariel [She Wants the Diction].](/_next/image?url=https%3A%2F%2Fi.gr-assets.com%2Fimages%2FS%2Fcompressed.photo.goodreads.com%2Fusers%2F1578787871i%2F9958316._UX200_CR0%2C0%2C200%2C200_.jpg&w=128&q=75)
February 3, 2020
Fair warning: I skipped the sections not relevant to me - such as retirement, buying a house, and having a kid. I agree with most other reviewers that the book was really repetitive (I spotted the statistic on how 40% of couples don't share their salaries with each other at least twice). Most of the advice was basic but pretty good, such as setting SMART goals, which I've heard of before but never actually sat down tried. (And it is helping, so there's that.)
Chapter 5 is really what pissed me off, though. It's all about ways to increase your income, and... sorry, but asking for a raise is pretty obvious and not really helpful to most people, especially when you work retail/customer service and have scheduled raises. The suggestions for earning passive income are pretty outrageous, too. Like this book actually suggested Sweatcoin as a legitimate source of income, and with a quick Googling I came across this video, where a guy completely debunks the app and basically breaks down why it's not worth it.
There's plugs for different financial apps (some paid and some not) scattered all throughout, to the point where it starts to get ridiculous. I'm not sure if the author was paid for this or what, but it seems counterintuitive to pay extra for a budgeting app when you're trying to save money, does it not? I appreciate trying to be technologically forward and all, but I could also forsee this book quickly becoming outdated due to the constant app mentions.
Chapter 5 is really what pissed me off, though. It's all about ways to increase your income, and... sorry, but asking for a raise is pretty obvious and not really helpful to most people, especially when you work retail/customer service and have scheduled raises. The suggestions for earning passive income are pretty outrageous, too. Like this book actually suggested Sweatcoin as a legitimate source of income, and with a quick Googling I came across this video, where a guy completely debunks the app and basically breaks down why it's not worth it.
There's plugs for different financial apps (some paid and some not) scattered all throughout, to the point where it starts to get ridiculous. I'm not sure if the author was paid for this or what, but it seems counterintuitive to pay extra for a budgeting app when you're trying to save money, does it not? I appreciate trying to be technologically forward and all, but I could also forsee this book quickly becoming outdated due to the constant app mentions.
December 14, 2024
Budgeting: A Key to Financial Stability
Budgeting isn’t just for large corporations; it’s a crucial practice for anyone aiming to achieve a stable and fulfilling financial life. The first step in budgeting is understanding your current financial standing. This includes assessing your net worth, monthly income and expenses, cash flow, debt details, and credit score. Since financial situations change over time—especially during major life events—it’s essential to periodically reassess your goals and priorities.
Modern mobile apps make tracking your transactions easy, helping you see where your money goes and whether it aligns with your expectations. By sticking to a spending limit, you can determine whether your budget is realistic. Expenses can be classified into necessities versus discretionary spending, as well as fixed costs (e.g., mortgage payments) and variable costs (e.g., utilities, groceries, or social activities). This practice not only sharpens financial awareness but also fosters conscious spending, uncovers wasteful habits, prevents budget overruns, and motivates cost-cutting behaviors. Every dollar spent is a dollar that could have been invested in building your wealth.
Tailoring Your Budget
Budgeting methods vary, allowing you to choose one that suits your financial personality and lifestyle. Popular approaches include:
50-30-20 Rule: Allocate 50% to needs, 30% to wants, and 20% to savings.
80-20 Budget: Dedicate 20% to savings and use the rest for expenses.
Zero-Sum Budget: Assign every dollar a purpose, ensuring your income equals expenses each month.
Debt Diet: Allocate specific percentages: 35% for housing, 15% for transportation, 25% for living expenses, 10% for savings, and 15% for debt repayment.
Understanding your budgeting personality is equally important. Emotional spenders may need to address impulsive purchases, status spenders might need to rethink socially-driven expenses, and dodgers should take manageable steps to face financial challenges. Mega-savers, meanwhile, should ensure their strategies account for inflation and long-term growth.
Income: Boosting Your Earnings
To improve your net worth (Assets - Liabilities), you can either reduce expenses or increase income. Here are practical ways to boost your earnings:
Negotiate a raise at work.
Take on a side gig, such as freelancing or tutoring.
Establish passive income streams, like publishing a book, selling photos, or monetizing a website.
Start a business or explore entrepreneurship.
If working more isn’t feasible, consider alternatives like selling unused items, using cashback apps, or providing services through gig platforms. Investing in income-generating assets such as dividend stocks or real estate investment trusts (REITs) can also help grow your income without significant additional effort.
Managing Expenses Wisely
Effective expense management is essential to financial stability. Avoid lifestyle creep, where increased income leads to unnecessary spending. Instead, live within your means and allocate surplus funds to savings or investments. Begin by cutting down on major expenses, such as housing and transportation.
Curb everyday spending by recognizing retailer tactics like “buy one, get one” deals or free shipping thresholds. Shop around for the best deals and consider implementing a spending freeze for a set period, focusing only on necessities like housing, groceries, and transportation.
Adopting conscious spending rules can refine your decision-making:
Wait-for-It Rule: Delay purchases over $100 for a week to determine if they’re still essential, and look for discounts during that time.
Indecision Rule: If you can’t choose between two items, don’t buy either; your priorities will become clearer with time.
Something In, Something Out Rule: For every non-essential item you buy, give away or sell a comparable one. If downsizing, adopt a “two-out, one-in” approach.
Be mindful of bad habits like overspending on sales or rewards points and relying only on risk-free savings. For credit card use, only charge what you can pay off immediately, keep utilization under 30%, and automate payments to avoid late fees.
Recognize spending triggers like guilt, boredom, or frustration, and avoid shopping when emotional. Plan splurges to prevent overspending from over-restricting yourself. Address “budget leaks” like subscription fees, ATM charges, and overdraft fees. For seasonal expenses, such as holidays, create a detailed budget in advance.
Financial Recovery After Setbacks
Financial setbacks from emergencies or life events can happen to anyone. Common emergencies include medical bills, car repairs, unexpected pet care, urgent travel, or job loss. Major life milestones—such as marriage, buying a house, or retirement—also require budget adjustments.
When setbacks occur, accept the situation and evaluate your finances. Create a recovery plan based on your current cash flow, and maintain adequate insurance to protect your future. Avoid emotional traps like anger or blame, which can derail progress. Instead, stay focused and categorize financial goals into:
Short-term goals: Risk-free, easily accessible cash.
Mid-term goals: 3-5 years, balanced between risk and growth.
Long-term goals: Strategic investments for wealth accumulation.
By proactively addressing setbacks, managing expenses, and boosting income, you can rebuild financial stability and move closer to achieving your goals.
Budgeting isn’t just for large corporations; it’s a crucial practice for anyone aiming to achieve a stable and fulfilling financial life. The first step in budgeting is understanding your current financial standing. This includes assessing your net worth, monthly income and expenses, cash flow, debt details, and credit score. Since financial situations change over time—especially during major life events—it’s essential to periodically reassess your goals and priorities.
Modern mobile apps make tracking your transactions easy, helping you see where your money goes and whether it aligns with your expectations. By sticking to a spending limit, you can determine whether your budget is realistic. Expenses can be classified into necessities versus discretionary spending, as well as fixed costs (e.g., mortgage payments) and variable costs (e.g., utilities, groceries, or social activities). This practice not only sharpens financial awareness but also fosters conscious spending, uncovers wasteful habits, prevents budget overruns, and motivates cost-cutting behaviors. Every dollar spent is a dollar that could have been invested in building your wealth.
Tailoring Your Budget
Budgeting methods vary, allowing you to choose one that suits your financial personality and lifestyle. Popular approaches include:
50-30-20 Rule: Allocate 50% to needs, 30% to wants, and 20% to savings.
80-20 Budget: Dedicate 20% to savings and use the rest for expenses.
Zero-Sum Budget: Assign every dollar a purpose, ensuring your income equals expenses each month.
Debt Diet: Allocate specific percentages: 35% for housing, 15% for transportation, 25% for living expenses, 10% for savings, and 15% for debt repayment.
Understanding your budgeting personality is equally important. Emotional spenders may need to address impulsive purchases, status spenders might need to rethink socially-driven expenses, and dodgers should take manageable steps to face financial challenges. Mega-savers, meanwhile, should ensure their strategies account for inflation and long-term growth.
Income: Boosting Your Earnings
To improve your net worth (Assets - Liabilities), you can either reduce expenses or increase income. Here are practical ways to boost your earnings:
Negotiate a raise at work.
Take on a side gig, such as freelancing or tutoring.
Establish passive income streams, like publishing a book, selling photos, or monetizing a website.
Start a business or explore entrepreneurship.
If working more isn’t feasible, consider alternatives like selling unused items, using cashback apps, or providing services through gig platforms. Investing in income-generating assets such as dividend stocks or real estate investment trusts (REITs) can also help grow your income without significant additional effort.
Managing Expenses Wisely
Effective expense management is essential to financial stability. Avoid lifestyle creep, where increased income leads to unnecessary spending. Instead, live within your means and allocate surplus funds to savings or investments. Begin by cutting down on major expenses, such as housing and transportation.
Curb everyday spending by recognizing retailer tactics like “buy one, get one” deals or free shipping thresholds. Shop around for the best deals and consider implementing a spending freeze for a set period, focusing only on necessities like housing, groceries, and transportation.
Adopting conscious spending rules can refine your decision-making:
Wait-for-It Rule: Delay purchases over $100 for a week to determine if they’re still essential, and look for discounts during that time.
Indecision Rule: If you can’t choose between two items, don’t buy either; your priorities will become clearer with time.
Something In, Something Out Rule: For every non-essential item you buy, give away or sell a comparable one. If downsizing, adopt a “two-out, one-in” approach.
Be mindful of bad habits like overspending on sales or rewards points and relying only on risk-free savings. For credit card use, only charge what you can pay off immediately, keep utilization under 30%, and automate payments to avoid late fees.
Recognize spending triggers like guilt, boredom, or frustration, and avoid shopping when emotional. Plan splurges to prevent overspending from over-restricting yourself. Address “budget leaks” like subscription fees, ATM charges, and overdraft fees. For seasonal expenses, such as holidays, create a detailed budget in advance.
Financial Recovery After Setbacks
Financial setbacks from emergencies or life events can happen to anyone. Common emergencies include medical bills, car repairs, unexpected pet care, urgent travel, or job loss. Major life milestones—such as marriage, buying a house, or retirement—also require budget adjustments.
When setbacks occur, accept the situation and evaluate your finances. Create a recovery plan based on your current cash flow, and maintain adequate insurance to protect your future. Avoid emotional traps like anger or blame, which can derail progress. Instead, stay focused and categorize financial goals into:
Short-term goals: Risk-free, easily accessible cash.
Mid-term goals: 3-5 years, balanced between risk and growth.
Long-term goals: Strategic investments for wealth accumulation.
By proactively addressing setbacks, managing expenses, and boosting income, you can rebuild financial stability and move closer to achieving your goals.
March 25, 2019
Wish I had read this book or something similar many years back. Still it’s not too late to get a hold on our finances I guess. Best book on personal finance I have read so far. Very comprehensive and to the point.
September 1, 2019
Very basic. Good for beginners. Easy quick read.
December 9, 2024
Budgeting 101
What was the book about well? I am going to tell you about the chapters I think were most interesting and gave the best advice. My first favorite part of the book was chapter called, start investing your money i think that this chapter helps because it talks about how most people start out investing and what their experience is like how most people go with a 401 k fund it is a feature of a qualified profit-sharing plan that allows employees to contribute a portion of their wages to individual accounts. Another thing that I think is good is a chapter when it says setting your financial goals. I like it because it talks about how you need to have a goal because without a goal you have nothing to work for it also means that you don't want to complete anything with your life and i like how it guys you steps when it says use the method called “SMART” it means
“Specific,Measurable,Achievable,Realistic,Time-oriented.” It helps objectives and is a good way to plan the steps to meet the long-term goals in your grant. It helps you take your grant from ideas to action. It is also a good thing to have goals in mind because it gives you stuff to work towards. I think some good examples are “ Who: Who is involved in this goal? What: What do I want to accomplish? Where: Where is this goal to be achieved? When: When do I want to achieve this goal? Why: Why do I want to achieve this goal. ”
What I liked about the book now that I gave you the chapters that best, now I'm going to give you the chapters that I think give the best information. This is chapter is called busting budget myths the first one i am going to be talking about is “budgets are for other people” The
truth is that everyone and anyone can benefit from a budget because when is basically a financial plan that helps you make a list on your expenses and income over time it is also one of the best ways that you can keep track of your money it's also good because if you know how to budget that means you know how to save and know how to save correctly is one of the hardest things someone can learn because it means you can't just spend to spent its basically like saying man vs self because you need to go against yourself when it comes to spend money on the wrong things. The second myth is called “budgets are to stressful” i think the truth is that it isn't stressful i think it's more stressful if your running out of money every month before your bills are paid and then you get stuck in debt and you don't want debt because then you have to pay back the bank so that's why i think it's good that the book talks about this myth. Now the end of my likes I'm going to talk about my favorite chapter called “build an empire of assets” you might ask what does that mean? It means that true wealth
is putting your money,time and work all towards you and making more money. You might say well what are you talking about that means whenever you make money you should put into things like stocks,bonds or real estate the reason the book says you should do this is because it helps you earn more money then you spend but then there is also a chance you loss it so i think this is man vs self. What I dislike about the book . well i would say this is one of the best books i have read in a while but there are very few things i don't like one of the things is that it really doesn't give ways to start making money if you're young.
connections my connections from this book is i choose this book because i am going to be rich i will be one of the richest mexicans in history i will be the conflict is that i'm going to be rich and when i am
this book will help me keep track of money and it will give me tips on how i can get better and smarter so to rate this book i would say this book is a great book
What was the book about well? I am going to tell you about the chapters I think were most interesting and gave the best advice. My first favorite part of the book was chapter called, start investing your money i think that this chapter helps because it talks about how most people start out investing and what their experience is like how most people go with a 401 k fund it is a feature of a qualified profit-sharing plan that allows employees to contribute a portion of their wages to individual accounts. Another thing that I think is good is a chapter when it says setting your financial goals. I like it because it talks about how you need to have a goal because without a goal you have nothing to work for it also means that you don't want to complete anything with your life and i like how it guys you steps when it says use the method called “SMART” it means
“Specific,Measurable,Achievable,Realistic,Time-oriented.” It helps objectives and is a good way to plan the steps to meet the long-term goals in your grant. It helps you take your grant from ideas to action. It is also a good thing to have goals in mind because it gives you stuff to work towards. I think some good examples are “ Who: Who is involved in this goal? What: What do I want to accomplish? Where: Where is this goal to be achieved? When: When do I want to achieve this goal? Why: Why do I want to achieve this goal. ”
What I liked about the book now that I gave you the chapters that best, now I'm going to give you the chapters that I think give the best information. This is chapter is called busting budget myths the first one i am going to be talking about is “budgets are for other people” The
truth is that everyone and anyone can benefit from a budget because when is basically a financial plan that helps you make a list on your expenses and income over time it is also one of the best ways that you can keep track of your money it's also good because if you know how to budget that means you know how to save and know how to save correctly is one of the hardest things someone can learn because it means you can't just spend to spent its basically like saying man vs self because you need to go against yourself when it comes to spend money on the wrong things. The second myth is called “budgets are to stressful” i think the truth is that it isn't stressful i think it's more stressful if your running out of money every month before your bills are paid and then you get stuck in debt and you don't want debt because then you have to pay back the bank so that's why i think it's good that the book talks about this myth. Now the end of my likes I'm going to talk about my favorite chapter called “build an empire of assets” you might ask what does that mean? It means that true wealth
is putting your money,time and work all towards you and making more money. You might say well what are you talking about that means whenever you make money you should put into things like stocks,bonds or real estate the reason the book says you should do this is because it helps you earn more money then you spend but then there is also a chance you loss it so i think this is man vs self. What I dislike about the book . well i would say this is one of the best books i have read in a while but there are very few things i don't like one of the things is that it really doesn't give ways to start making money if you're young.
connections my connections from this book is i choose this book because i am going to be rich i will be one of the richest mexicans in history i will be the conflict is that i'm going to be rich and when i am
this book will help me keep track of money and it will give me tips on how i can get better and smarter so to rate this book i would say this book is a great book
Read
October 13, 2022 For those of us out there wanting advice on how to take better control of finances, CPA and author Michele Cagan book Budgeting 101 is a great place to learn some important concepts that will help anyone trying to get better with money. This is done by creating a plan (or budget) that works on an individual basis. After all, a plan you cannot see yourself sticking to is one that will not work and Cagan has plenty to say about avoiding the biggest budgeting pitfalls.
Cagan begins the book by explaining the importance of knowing where you are financially. That in order to get where you want to go you have to face where you are at, despite how difficult that might be.Cagan recommends tracking income and expenses in order to get a clear picture of where cash flow is really going. From there Cagan recommends setting SMART (specific, measurable, achievable, realistic, and time-based) savings and financial goals. Cagan explains that in order to improve financially it is important to have actual goals in mind because otherwise it is impossible to get anywhere. Cagan also mentions looking at goals from the standpoint that some will be short term (like saving for a phone) to longer term (like retirement ) to have greater control over finances.
One of the best things about this book is that it is very reader friendly. Cagan doesn’t weight the book down with loads of financial jargon and she explains things in a very clear and concise way. This makes learning these concepts easy and accessible.I also appreciate that Cagan had no problems tackling the harder money subjects like facing debt and planning for retirement. These are subjects that are difficult for a lot of people, but Cagan approaches them with sense and empathy. I would recommend this book to be given to teens and any adult looking to increase their financial literacy and gain more control of their money lives.
Cagan begins the book by explaining the importance of knowing where you are financially. That in order to get where you want to go you have to face where you are at, despite how difficult that might be.Cagan recommends tracking income and expenses in order to get a clear picture of where cash flow is really going. From there Cagan recommends setting SMART (specific, measurable, achievable, realistic, and time-based) savings and financial goals. Cagan explains that in order to improve financially it is important to have actual goals in mind because otherwise it is impossible to get anywhere. Cagan also mentions looking at goals from the standpoint that some will be short term (like saving for a phone) to longer term (like retirement ) to have greater control over finances.
One of the best things about this book is that it is very reader friendly. Cagan doesn’t weight the book down with loads of financial jargon and she explains things in a very clear and concise way. This makes learning these concepts easy and accessible.I also appreciate that Cagan had no problems tackling the harder money subjects like facing debt and planning for retirement. These are subjects that are difficult for a lot of people, but Cagan approaches them with sense and empathy. I would recommend this book to be given to teens and any adult looking to increase their financial literacy and gain more control of their money lives.
September 4, 2023
Straightforward guidance
I especially recommend this book to young people - as young as 17 or 18. The sooner we get control of our finances, the happier we'll be. It's a good reference book for anyone to keep on hand. I'm retired and several points no longer apply to my circumstances - like raising children. I read this book to help a younger relative get a handle on money management. Budgeting has always been easy for me. I wanted to use the advice of a 3rd party to assist our conversations. The one thing I disliked was the amount of investing info in the initial chapter on setting up a budget. I suggest that good info be in the investing chapter & that the reader skim that part until s/he has made up a working budget. I especially liked the part at the book's end that pointed to socially conscious investment help - a a younger person looking for investment options I frequently got blank stares when I asked for such choices. Glad that changed!
I especially recommend this book to young people - as young as 17 or 18. The sooner we get control of our finances, the happier we'll be. It's a good reference book for anyone to keep on hand. I'm retired and several points no longer apply to my circumstances - like raising children. I read this book to help a younger relative get a handle on money management. Budgeting has always been easy for me. I wanted to use the advice of a 3rd party to assist our conversations. The one thing I disliked was the amount of investing info in the initial chapter on setting up a budget. I suggest that good info be in the investing chapter & that the reader skim that part until s/he has made up a working budget. I especially liked the part at the book's end that pointed to socially conscious investment help - a a younger person looking for investment options I frequently got blank stares when I asked for such choices. Glad that changed!
March 6, 2020
Overall, this is a great book for people who don’t know where to start with budgeting. It allows for some hand holding in the sense that it repeats certain topics again when relevant, which is nice for first time people learning budgets, but adds redundancy for those who want to learn more to dive deeper. Again this book is marked as budgeting 101 so I didn’t expect to go deeper, but i do expect if you revisit a topic, to provide more context of why we need to revisit about that point. All in all YNAB is a great tool and i am glad it is mentioned here, but it also go through general debt tackling, emergency constructing, and the importance of what it means to build wealth aside from just conserving your monthly spending.
January 23, 2021
TLDR: The book offers basic knowledge about budgeting, savings, and investing in America. But it's too long and too repetitive.
***What the book is about***
The book is about money—budgeting, saving, and investing in America. The book talks about how to budget using different methods, how to track spending, how to know your net worth, how to invest in America and ways on how to get out of debt.
***What I don't like about the book***
The book felt so long and in some parts repetitive.
The book investing part is for Americans only which I understand but still I think the author could have made it more general but I understand.
***Round Up***
If you are an American, this is a basic book that you should start on if you want to know how to budget, save, spend, and track money.
I do not recommend this for non-Americans.
***What the book is about***
The book is about money—budgeting, saving, and investing in America. The book talks about how to budget using different methods, how to track spending, how to know your net worth, how to invest in America and ways on how to get out of debt.
***What I don't like about the book***
The book felt so long and in some parts repetitive.
The book investing part is for Americans only which I understand but still I think the author could have made it more general but I understand.
***Round Up***
If you are an American, this is a basic book that you should start on if you want to know how to budget, save, spend, and track money.
I do not recommend this for non-Americans.
April 11, 2019
The author presents mini plans on how to budget when young and starting out, key working years, for a home, for vacations, for paying bills, but where she hits a real snag is for retirees where she basically says, "be debt free before you retire." Not exactly helpful. I do agree with her on setting up more than one emergency fund...for health, for home repair, etc. and choosing the way you want to pay off debts (smallest first, or the one with the highest interest rate first)….whatever works best for you. A good starter book for budgeting or at least to get you thinking about how you acquire and use money.
August 26, 2019
Budgeting 101 is a book that everyone starting out in life should read. Michele Cagan covers so many scenarios in clear and easy to understand language. My wife and I were lucky, we were on the same page from the start and discovered many of the ways to save, invest, build credit scores and build a good emergency fund. We were also lucky to have started out life when credit cards were not as ubiquitous as they are now. I am going to purchase this book for nieces and nephews who are now starting to negotiate life many of the pitfalls that they will encounter that is tied to understanding how to use money instead of being confused by it.
January 8, 2026
A great crash course that goes over everything you need to know to start your budgeting journey and enhance your personal financial awareness. Provides many valuable resources, links, and apps. Easy, fun, simple to read and understand without overkill or long topics, which makes this book intriguing and well worth your time. This book is for anyone: students, parents, singles, homeowners, and more. The cover lives up to its hype and title. I might look into the other series. Make your money work for you!
Start today!
Start today!
January 19, 2019
Budget 101... title is self explanatory; book briefly describes basic concepts of budgets, overcoming debt, saving for the future. Appropriate for a high school reader fresh into managing his finances, the book simply explains what most of us already know. Save more than you spend, pay down debt, use cash, don't carry credit card balance, find side gigs for passive income, buy a house, share expenses with a significant other, plan for retirement. Nothing new, no big secrets.
January 12, 2023
New year, poorer me. 😜✨ De info in dit boek is met name relevant voor Amerikanen. Vooral de laatste helft (over credit scores etc) kun je als Nederlander skippen. In de eerste helft van het boek staan naast een hoop (voor mij) open deuren ook genoeg leuke tips. Handig voor een #moneymindset reset aan het begin van het jaar.
Wie gaat er een toegankelijk boek over geld maken voor Nederlandse middelbare scholieren/jongeren?
Wie gaat er een toegankelijk boek over geld maken voor Nederlandse middelbare scholieren/jongeren?
October 3, 2019
I thought this was a great resource and took lots of notes. Mostly I really appreciated how it wasn't a one size fits all solution but offered many options and listed lots of websites and apps because it acknowledged that people with different personalities, life situations, and beliefs need different solutions.
October 5, 2019
The book teaches you the basics of budgeting and how to manage your money wisely. It also teaches you how to achieve financial stability or achieve your financial goals. However, the book is very repetitive and some information is good to know but not might relate to your situation. Overall, I recommend the book!
December 17, 2019
I was hoping that this book would have some level of insight that I didn’t know. Our family hasn’t historically done budgets (frugal family culture), but we are aware. The book is written well and is easy to follow, but has even less content than a Dave Ramsey book. This book is only for people who truly need a 101 course on budgeting. May be great for high schoolers.
February 28, 2022
As the title says, it speaks all about budgeting. It includes how to budget, the tips to not lose the budgeting momentum, how to increase revenue, how to re-budget after a lifestyle change and many others.
Overall, a quick and light read. Perfect for an introduction but not for deeper understanding!
Overall, a quick and light read. Perfect for an introduction but not for deeper understanding!
July 3, 2022
This book had basic knowledge and resources for anyone who wants to take control of their money. If you have a budgeting system already or looking for a great way to tackle debt I would recommend reading something else. I appreciated the few pages on retirement and buying a home but nothing that made me think "I should get up and do that right now".
December 13, 2019
There is a lot of repetition of the concepts and ideas as if trying to increase number of words. It didn't add much to financial planning as everything in it was common knowledge and common sense. I expected more from the book but it didn't deliver.
Displaying 1 - 30 of 86 reviews