The Big Payoff
Anyone out there with a money tree in their backyard? No? Same here. We use to have a money tree. But Jack thought it was a beanstalk and chopped it down. No more money tree. That’s why Collins sent me The Big Payoff for review. They actually sent the book about three months ago. My bad. I have not had much time for reading books or writing reviews lately.
The Big Payoff, by Sharon Epperson, presents eight steps people can take to make the most of their money:
(1) Stretch your budget and make your money last
(2) Create an emergency savings (enough to cover several months living expenses) just in case
(3) Build wealth through 401(k)s and IRAs for smooth sailing in your retirement years
(4) Review your finances before you buy (or sell) your home
(5) Send your kid to college without going broke
(6) Invest in your health by choosing the right plans (health, disability, and long-term care insurance)
(7) Insure your life and property to protect your family and finances
(8) Draft an estate plan so you can share your wealth with others
I’ve only had time to skim read the book. From what I read, the advice is practical and useful. Some of the the tips are obvious, but it’s nice to have them in print as a reminder. The section I was most interested in was the chapter on saving for college. A college education is expensive. In our case, three kids mean expensive times three. Sadly, we have not saved a single penny for our kids’ college education. Based on what I read, I plan to do some more research and hopefully have a plan in place by the end of the year.
Some words of caution. Even though The Big Payoff contains useful information, the book won’t do you any good if you’re not the type of person who follows through on what you read. Reading the book is only the first step. Applying what you learned and sticking with it is the hard part.
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then there’s no point for me to get that book since I’m a bit slow in follow through … hehe
I’m that way sometimes. I have cook books in the closet that I don’t use.
Application is always the stickler isn’t it?
Hugs,
Holly
Wouldn’t it be nice if the book could do it for us?
I’m way behind on book reviews, too.
This books sounds good, but I’m really interested in that money tree. Where can I get one of those?
Sorry, our money tree is dead. Otherwise, I would give you some of its seeds so you can grow your own money tree.
Yeah, that’s why I don’t read self help books… you actually have to do what they tell you. LOL!
I don’t usually read self help books, but we sure could use help with our finances.
I was so pumped when I saw your post…I thought you were running a contest with a BIG PAYOFF. Maybe you should…..
If I still had that money tree, I could give money away to my readers everyday.
i need all the help i can get… single parenthood is freaking me out financially…
With your photography skills, you can sell pictures of your kids.
Money tree? Are you sure you don’t have any seeds left? That is one of my biggest downfalls, saving money. It’s not that I spend it on “things”, though. It’s all spent on going out to eat and bills.
I know exactly what you mean. That’s why I love the concept of a money tree.
Money is always a touchy subjest - a class on handling money is a great way to learn through books and “doing”.
Check out Dave Ramsey’s Financial Peace class. It is great. Or go to http://www.crown.org for many small group studies on money. Both of these is life altering and will teach you to fish (and your children. grandchildren…).