Saturday, January 17, 2015

All Your Worth, by Elizabeth Warren

I read this because I know a few folks who are actively working on fine tuning their money management skills, and this was recommended by a colleague of one of my children.  The concept of Ms. Warren's book, co-written with her daughter, Amelia Tyagi, is to provide a big picture guide to personal money management.  Big picture meaning they don't focus on a highly detailed budget.  Instead, they give readers just three buckets to manage:  needs, wants, and savings.

The tough conversation is separating wants from needs, and this book seems to do a good job of it. It is chock full of good advice, like avoiding credit card debt.

I skimmed some of the book and I'm really not the target demographic, but my impression is that is is a good approach.  A similar but far more detailed an approach comes from Dave Ramsey, with books like The Total Money Makeover and Financial Peace Revisited.

My advice:  borrow this one from the library, as I did.  If you have debt, read something from the Dave Ramsey website to start, and perhaps invest in one of his books.

All Your Worth: The Ultimate Lifetime Money Plan

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