Overview
This book isn’t especially long, but it takes awhile to complete due to the 6-week course that is included in it. You have to do things such as open new bank accounts, investment accounts, credit cards, pay off debt, figure out your spending limits, transfer funds, negotiate lower rates etc etc.
But, outside of how daunting doing some of these things can be I have found this book to be extremely useful when it comes to financial health. You will learn valuable information when it comes to finances. These things can save you thousands of dollars throughout your life. It is worth doing the 6-week program and putting in the work because after you have completed this you won’t have to deal with questioning your finances and remembering to pay bills every month. Once you complete the program in this book you will know how much money you have, how much you can spend, you will have automated your bills, savings, and even investments.
The work you put in now will pay off huge dividends later. Once you have all these finances in order you will have less stress and worry while saving and investing for your future automatically. The sense of freedom you will obtain after completing this 6-week course is truly priceless.
Now you can use your extra time to make more money, improve your skills, or just spend time with your family. I highly recommend you read this book and complete it’s 6-week program as soon as you get the chance.
The 6-Week Program
The 6-week program in the book is designed to help you pay off debts, set up good accounts, start saving, start investing, and set up automatic payments and transfers so you don’t have to do a single thing, but check and make everything is still working once a month. I’ll outline the program here.
Week 1
- Get your credit score and credit report
- Set up your credit card
- Make sure you’re handling your credit cards effectively
- If you have debt, start paying it off
Week 2
- Open a checking account or access your current one
- Open an online high-interest savings account
- Optional: Open an online high-interest checking account
- Fund your online savings account
Week 3
- Open your 401(k)
- Come up with a plan to pay off your debt
- Open a Roth IRA and set up automatic payments
- Find out if you’re eligible for an HSA, and open one if you are
Week 4
- Get your paycheck, determine what you’re spending, and create a conscious spending plan
- Optimize your spending
- Pick your big wins
- Maintain your conscious spending plan
Week 5
- List all your accounts in one place
- Link your accounts together
- Set up your automatic money flow
Week 6
- Determine your investing style
- Buy your funds
Obviously is a lot and it all seems daunting. But, once you get into it it’s not actually that bad. The author goes into way more detail than I did about what accounts to pick, what investments to make, and how everything works. So you don’t have to worry about figuring out how to do all of these things yourself. It’s all in the book.
The author also adds an annual financial checklist that I found priceless. Once you complete this checklist you are set and ready to live your life without worrying about money to the extent that the other 90% of the population does.
Review
I recommend this book to anyone that does not want to spend their life worrying about money all the time. If you don’t want to live paycheck to paycheck every month and actually want to get ahead and grow your wealth, then this book is for you. I would add this book to my must reads category.
If you want to learn more about personal finance and where to pick up I Will Teach You To Be Rich check here.
https://www.iwillteachyoutoberich.com/
You can also check out last months book here.
How to Win Friends and Influence People: Review
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