The Smart Cookies' Guide to Making More Dough
Andrea, Angela, Katie, Robyn and Sandra were inspired by an Oprah Winfrey show on personal finance to not only take a look at their desperate financial straits, but to do something about it. They found each other, formed a money group, and they helped each other learn about financial foibles and develop better financial habits.
In America, finance is a taboo conversation topic. It is hard to talk about, and people think that you are greedy if you broach the subject. However, people need to get honest about their finances and learn about money so that they can make and reach reasonable financial goals for themselves.
People need to look at all of their expenses and sources of income. Planning a budget (or spending plan) can help immensely. Oftentimes, people are unaware of how much money they spend and where they spend it until they begin tracking expenses. Knowledge is necessary in order to change entrenched habits. People cannot buy everything they want, and they do not need to buy things simply because they are "on sale." Also, it is best to avoid using shopping to cure the blues.
It is also possible to increase income by asking for a pay increase at work and/or turning a hobby into a part-time job. Investing money is necessary to enjoy the beauty of compound interest. Cutting hidden expenses (like Starbucks every day) can save hundreds of dollars every year.
Forming a money group with like-minded individuals can help potential savers to learn more about money and develop strategies in a supportive environment.
The Smart Cookies' Guide to Making More Dough: How Five Young Women Got Smart, Formed a Money Group, and Took Control of Their Finances by The Smart Cookies with Jennifer Barrett
The group's name and the cover of this book appealed to me. It's been a while since I've read a book on personal finance. I learned more strategies from this enterprising and upbeat group. You can turn your financial life around just as these women did.
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