DIY finance with one of these two fantastic guides
Our events manager Chris Gordon talks about two fantastic money guides that have helped her learn how to DIY her finance.
Have you got a splurge card? Perhaps you’ve recently chopped up your credit card? Or used the phrase ‘financial detox’ in conversation?
If you answered yes to any of the above questions, it’s possible that you’re already well on your way to becoming a DIY financial master.
If not, let me recommend you seek out either Scott Pape’s bestselling The Barefoot Investor, or Melissa Browne’s newly released Unf*ck Your Finances. Both these authors have a similar overall message that I can get on board with: Don’t make your life all about money, but do think about how and why you spend. However, their approaches are different.
Unf*ck Your Finances starts at the very beginning. Browne wants readers to talk and think through their relationship with money. Her goal is to challenge their existing mind-state towards money, and to realise how money can equal power. Her book has a feminist slant – as she says, women are typically behind the starting line where money is concerned.
The Barefoot Investor is more pragmatic. Pape is very action orientated, and he wants readers to start working on their finance now. That’s right – don’t dillydally! Buy this book and within a few weeks, you’ll be changing banks, getting quotes from superannuation firms, and more.
I’ve heard Pape and Browne speak at different events, and have gone onto read each of their books. Both times, I’ve been inspired to make changes to my own life.
First, my bloke and I followed Pape’s weekly schedule and advice, and we now have a splurge card that rudely runs out each month. We started strong, but we do often find ourselves falling into bad financial habits. (We’re working on this – I recently did a detox week where I only spent my extra money on experiences, not things.) So I enjoyed reading Browne’s book which alerted me to my tendency to splurge on random things. (Do I need flowers in my house? Apparently not.) I appreciated how her book focused on remaining mindful of spending habits.
So which book is right for you? Well, I think it depends where you are in the great cycle of life.
If you are at the stage where dinner party conversations veer towards property costs and interest rates (I know!) then I recommend The Barefoot Investor. This forward-thinking book is about renovating your situation immediately.
If you’re still at a stage in life where you’re heading to music gigs that start after 11pm, Unf*ck Your Finances is the answer. It will help you reconsider how and why you spend, and has a far less prescriptive approach.
Or, like me, read both and let the two approaches complement one another!