Get Good With Money

Synopsis

Tiffany Aliche was a successful pre-school teacher with a healthy nest egg when a recession and advice from a shady advisor put her out of a job and into a huge financial hole. As she began to chart the path to her own financial rescue, the outline of her ten-step formula for attaining both financial security and peace of mind began to take shape. These principles have now helped more than one million women worldwide save and pay off millions in debt, and begin planning for a richer life. Revealing this practical ten-step process for the first time in its entirety, Get Good with Money introduces the powerful concept of building wealth through financial wholeness: a realistic, achievable, and energizing alternative to get-rich-quick and over-complicated money management systems. With helpful checklists, worksheets, a tool kit of resources, and advanced advice from experts who Tiffany herself relies on (her "Budgetnista Boosters"), Get Good with Money gets crystal clear on the short-term actions that lead to long-term goals, including:  A simple technique to determine your baseline or "noodle budget," examine and systemise your expenses, and lay out a plan that allows you to say yes to your dreams.  An assessment tool that helps you understand whether you have a "don't make enough" problem or a "spend too much" issue-as well as ways to fix both.  Best practices for saving for a rainy day (aka job loss), a big-ticket item (a house, a trip, a car), and money that can be invested for your future.  Detailed advice and action steps for taking charge of your credit score, maximising bill-paying automation, savings and investing, and calculating your life, disability, and property insurance needs.  Ways to protect your beneficiaries' future, and ensure that your financial wishes will stand the test of time. An invaluable guide to cultivating good financial habits and making your money work for you, Get Good with Money will help you build a solid foundation for your life (and legacy) that's rich in every way.

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Summary

Chapter 1: Your Money Story

Summary: Explores the beliefs and habits surrounding money that we develop from childhood, and how they shape our financial decisions.

Example: Jane, raised in an affluent household, believes money is abundant and easily accessible. In contrast, Sarah, who grew up in a low-income family, views money as scarce and a constant source of stress.

Chapter 2: Your Money Map

Summary: Outlines the specific income and expense streams in an individual's financial life, including salaries, bonuses, and investments. It helps identify areas where adjustments can be made to improve financial health.

Example: John creates a money map that shows his income from his salary, commissions, and investments. He realizes that his expenses for entertainment and dining out are higher than he thought, which he resolves to reduce.

Chapter 3: Your Money Plan

Summary: Provides a framework for creating a budget and financial goals that are tailored to an individual's needs and aspirations. It emphasizes the importance of tracking expenses and creating a savings plan.

Example: Maria sets a goal of saving for a down payment on a house within the next five years. She creates a budget that allocates a portion of her income to a dedicated savings account.

Chapter 4: Your Money Attitude

Summary: Addresses the psychological factors that influence our relationship with money, such as anxiety, guilt, or shame. It encourages self-reflection and the development of a healthy attitude towards finances.

Example: Tom recognizes that he experiences anxiety when thinking about his debt. He seeks professional help to address his underlying beliefs and develop coping mechanisms.

Chapter 5: Your Money Mindset

Summary: Explores the growth mindset and abundance mindset as they relate to financial success. It emphasizes the importance of believing in oneself, seeking opportunities, and not letting setbacks define one's financial potential.

Example: Sarah, who previously held a scarcity mindset, adopts a growth mindset. She believes that she can improve her financial situation through education and proactive action.

Chapter 6: Your Money Strategies

Summary: Provides practical advice on investing, managing credit, and planning for the future. It emphasizes the importance of diversifying investments, building good credit, and creating a retirement savings plan.

Example: John invests a portion of his income in a diversified portfolio of stocks, bonds, and real estate. He also establishes a 401(k) plan to save for retirement.

Chapter 7: Your Money Relationships

Summary: Explores the role of relationships in financial decision-making, including relationships with family, friends, and partners. It emphasizes the importance of open communication and aligning financial goals.

Example: Jane and her husband discuss their financial goals and decide to combine their incomes to create a joint budget. This allows them to save more and achieve their goals faster.