Personal finance shouldn’t be hard. We tend to make it harder than it needs to be. We get scared to make a decision for fear that we will do something wrong and make irrevocable errors.
In “Simple Money – A No Nonsense Guide To Personal Finance” by Tim Maurer, the author breaks personal finance down into its simplest form. Tim Maurer walks the reader through his or her personal finance choices. The book makes people look at the “why” of their personal finances and money decisions.
Why do we make the financial choices that we make? What motivates us to spend or save money? These questions and much more are discussed in detail in the book.
Tim Maurer makes a statement in the beginning on the book that is very poignant. He says, “Personal finance is more personal than finance.” And, a truer statement has never been said. It is personal, and that’s what “Simple Money – A No Nonsense Guide To Personal Finance” is all about.
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What choices are you making and why? What choices should you make about your finances and why? Tim Maurer breaks it down in clear, easy to read and practical advice.
Simple Money – A No Nonsense Guide To Personal Finance
Many personal finance books try to teach you about money. Other books look to help you find your purpose and how money fits into that goal. It’s rare that a book tackles both and tackles them well. Dave Ramsey’s “The Total Money Makeover” is one. And, Tim Maurer’s book, Simple Money – A No Nonsense Guide To Personal Finance is another.
I can see many similarities between the two books and their philosophies. So, if you like Dave Ramsey, I think that you will really enjoy “Simple Money – A No Nonsense Guide To Personal Finance”.
The Five Parts of “Simple Money”
“Simple Money – A No Nonsense Guide To Personal Finance” is broken down into five sections that make this book a great tool for people looking to take control over their finances.
- Part 1 – Planning for Life
- Part 2 – Planning for Today
- Part 3 – Planning for the Inevitable
- Part 4 – Planning for the Unexpected
- Part 5 – Planning for Action
Part 1 – Planning for Life
Not only is Simple Money – A No Nonsense Guide To Personal Finance easy to read, but it also has great graphs, charts, and illustrations to make the point hit home with the reader.
Part one is a great opening to the book that sets the stage. It walks the readers through goal setting and how to accomplish some of the many financial tasks that you will find throughout the book. Like Dave Ramsey’s book, you’ll also find chapters in this section that talk about your values and your life’s calling and how they intertwine into your finances.
Part 2 – Planning for Today
Part two talks about where you currently stand. It discusses your current financial situation and asks you to take a good, hard look at your finances. You have to know where you are starting from in order to improve.
How much debt to you have? What are the different types of debt that you have? How much are you investing? Do you have your financial priorities straight?
These are all things that you will find in this section. It sets that stage and gets the ball rolling for the rest of the book and the tools and techniques that you will need to implement.
Part 3 – Planning for the Inevitable
Part three gets more in-depth into investing and estate planning. This is like Personal Finance 102. If parts one and two were Personal Finance 101, this section is taking it to the next level.
Do you have an estate plan? Do you have a last will and testament? Are you saving enough money for retirement? How are you going to pay for your children’s college education or for you to go back to school in order to get a better job?
These are just many of the topics covered in this section. While section one and two are by far more important, part three shouldn’t be ignored either. These topics are essential to providing you with a more holistic and well-rounded picture of your personal finances.
Part 4 – Planning for the Unexpected
Part 4 – Planning for the Unexpected covers many of the essential elements of personal finance. In this section, you’ll find details about insurance. The section covers car insurance, home insurance, and life insurance.
It also covers two insurance topics that are glossed over many times and overlooked but are critical to many people – Disability Insurance and Long-Term Care Insurance. These are two topics that are worth your time and attention!
Part 5 – Planning for Action
I love section five of Tim Maurer’s book, Simple Money – A No Nonsense Guide To Personal Finance. This is where the rubber meets the road. This is the section where you find man actionable tips to implement. This is the section for action with your personal finances.
In section five, you’ll find great tools to help you implement everything that you’ve learned throughout the entire book.
Personal finance can be complicated. But, it doesn’t have to be. And, simplifying personal finance is the aim in Tim Maurer’s book, “Simple Money – A No Nonsense Guide To Personal Finance”.
What about you? Is personal finance complicated? Does it need to be? Is the complication something that we bring on ourselves?