It begins with an assessment of your current financial position, including the net worth calculation; and then examines current spending behavior over a specific period of time. There’s an explanation of compound interest, a strategy for reducing debt, recommendations for accelerating savings growth, and a reconciliation of goals to budget targets. The information gathered in the process is then used to build a custom-tailored budget. Tips are provided for executing, monitoring, analyzing, and ultimately revising the budget as necessary, based on real life circumstances. There’s also an overview of personal income taxes, that explains how tax brackets work, the effect of deferred income, and the benefits of retirement accounts.
This book is a practical and concise guide to personal financial management with an emphasis on measuring, monitoring, and impacting the changes in your Net Worth. For more information, visit www.networth2b.com.