NetWorth2B If You Don't Have A Money Tree

Personal Finance, Budgeting, Wealth Management

By: Jean Hines

Narrated by: Virtual Voice

Length: 2 hrs and 43 mins

Publisher's summary

Making the most of your hard-earned money, means working less and living your best life. Who could say no to that? Well, for most people the challenge is knowing how to make it happen. This book provides an action-oriented approach to smart money management, with advice from a licensed certified public accountant.

It begins with an explanation of personal net worth… what is it? How do you calculate it? With that foundational knowledge, the discussion moves on to goal setting. It’s not enough to want to pay off debt and build savings… financial goals need to be clearly defined and measurable. The focus then shifts to building a budget that incorporates your current financial reality and your goals for the future. In traditional budgeting, line-item amounts are fixed each month. Since fixed monthly budgets don't work for most people, this author takes a different approach. She advocates the use of variable monthly budgets to capture regular and irregular income and expense items. Those monthly budgets are then reconciled into an annual budget. This approach is extended to income and expense tracking, to facilitate a meaningful budget to actual comparison.

As a certified public accountant, this author couldn’t talk about personal finance without talking about income taxes. The tax topics include an explanation of tax brackets, tax withholding, estimated tax payments, self-employment tax, deferred taxes on certain retirement plan contributions, tax credits and tax deductions.

In the final chapter the author touches on the financial considerations for home buying, data security in the information technology age, and general rules for everyday money decisions. This book delivers a lot of material in a concise and informative manner; without extra verbiage or unnecessary redundancy.

The primary objective is to promote financial literacy by actively engaging the reader in the process. To that end, the networth2b.com website is a perfect complement. There you can find a net worth calculator, a financial goals worksheet, a budget worksheet, a debt payoff calculator, a mortgage payoff calculator, a savings calculator, and a host of other online resources. These tools can help the reader work through different scenarios, based on recommendations given in this book.

Throughout the book, the NetWorth2b Budget & Flow App (premium edition)… is used to demonstrate how an effective budgeting and cash flow management system should work. The app is affordable, robust, and designed specifically for individuals who need an efficient way to monitor and control their finances without surrendering data privacy. NetWorth2b Budget & Flow runs on android devices and on Windows 11 devices; and as such is available in the Amazon Appstore and the Microsoft Store. Download links can be found on the networth2b.com website, along with instructions that explain how to install the app on both devices.