Book Review: Rich Budget Wise, Dollar Rich

Book Review: Budget Wise, Dollar Rich.
How to get everything you want … and more. ,
By Anton Nadilo & Andrew Lendnal - $29.95 GST

Budget Wise, Dollar Rich

Reviewed by Leonie Wise, Good Returns

As many as 95 percent of New Zealanders have difficulty simply managing their money day to day; for most people the thought of having money to invest and create wealth is no more than a pipe dream.

Budget Wise, Dollar Rich is a practical handbook designed to help readers take control of their personal finances – not a topic that most people choose to think about, let alone discuss or spend time working on. “The biggest resistance of course, is the notion that having a budget means depriving yourself of important things – the idea that you won’t be able to have what you want. In fact, a budget can be a source of freedom and can help you achieve your financial goals. This can be a tough concept to accept when you are already feeling squeezed to make ends meet. But if you have any sense that a budget could help you, it probably can.”

As well as being split in to small, easily readable chapters, the book is divided in to three parts:

1. Firing up the budget. This section of the book includes information on how to remove obstacles that may be stopping people from starting. It includes topics such as procrastination, tips on defining financial objectives, the importance of S.M.A.R.T. goals and includes worksheets to help readers identify their values, define short-term (less than 2 years), medium-term (2-5 years) and long-term goals. Compound interest is given a mention and the writers also stress the importance of communication with everyone involved in the process. “Money is something that many people have problems with, and while communicating is not always easy, it is important. Generally, the more open the communication about finances, the better the quality of the financial decisions.”
2. The budget in action. This is the good stuff. In this section of the book, the reader will find most of the worksheets. Part 2 is where the work gets done and each worksheet is explained so the reader can understand what it is they are completing. Worksheets include personal details, budget, income, fixed, variable and discretional expenses as well as tips and tricks to staying on track. There are also sheets to help eliminate student loan and credit card debt and a great chapter on budgeting tips which includes advice on being realistic, having savings goals and planning for an emergency fund.
3. The budget and beyond. So where to from the worksheets? This section includes information on insurance, family trusts and wills. Chapter 18 has a numbered action plan to help you with a plan for the future and also includes a Net Worth statement worksheet.

With a summary at the end of each chapter to re-cap what has been covered and a multitude of worksheets to help you, this book is a great tool. The worksheets are also available to be downloaded from the internet for a small cost. The worksheets in the book don’t have to be completed of course, but people are more likely to get more out of the book by filling them in. After all, what would be the point of buying this book if the reader has no intention of actually using it?

This book is aimed at anyone looking to gain control of their financial situation. All the worksheets include examples to help readers fill in their own details. It is well-written, easy to understand and should help to make budgeting a lot less of a headache for those who read and use the book as a budgeting tool.

Anton Nadilo & Andrew Lendnal are the brains behind this great practical guide for New Zealanders. Anton is a Wellington-based financial coach, professional speaker and founder and CEO of Financial Minds. Andrew is a financial planner and educator and founder of Breakthru Limited.

This is a fantastic book that I believe every New Zealand family should buy, read and complete the exercises in. I will read this again at my leisure, encourage my husband, friends and family to read also and, in order to get the most possible benefit, complete all the worksheets. If the reader is serious about taking action from reading this book, I highly recommend the small investment required to purchase the electronic sheets. These will save the reader time, are easy to install and use and require only basic computer knowledge, a computer and a copy of Microsoft Excel. The worksheets in the software are well laid out and contain easy to follow instructions in case the user is unclear on what to fill in to each cell of the sheets, as well as access to online support.

To buy your copy of ‘Budget Wise, Dollar Rich priced at $25.00 incl. GST from the Good Returns Bookstore click here.

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