Summary of Tere Stouffer's The Only Budgeting Book You'll Ever Need

By IRB Media

Please note: This is a companion version & not the original book.

Book Preview: #1 If you have a good, working computer, put it to work for you. Create a folder named Budget so you know where all your files go. If you have thoughts about your budget and ways you can save money, note them down and toss them into the Budget folder.

#2 There are many financial software programs out there, and each one claims that it is the only one you need. You can bypass all those programs and just do the work yourself, which isn't hard.

#3 As you go through this book, keep accurate and careful records of your expenses and income. This will help you keep a budget and track your progress. It’s important to keep your financial records for at least three years, but preferably longer.

#4 One of the ironic consequences of the growth of technology is that it’s easier for people to obtain illegal access to your records. One way to protect yourself against this is to shred your personal documents rather than just throwing them away.

• Language: English
• Publisher: IRB Media
• Release date: Feb 16, 2022
• ISBN: 9781669348399

IRB Media

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Insights on Tere Stouffer's The Only Budgeting Book Youll Ever Need

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 3

Insights from Chapter 1

#1

If you have a good, working computer, put it to work for you. Create a folder named Budget so you know where all your files go. If you have thoughts about your budget and ways you can save money, note them down and toss them into the Budget folder.

#2

There are many financial software programs out there, and each one claims that it is the only one you need. You can bypass all those programs and just do the work yourself, which isn't hard.

#3

As you go through this book, keep accurate and careful records of your expenses and income. This will help you keep a budget and track your progress. It’s important to keep your financial records for at least three years, but preferably longer.

#4

One of the ironic consequences of the growth of technology is that it’s easier for people to obtain illegal access to your records. One way to protect yourself against this is to shred your personal documents rather than just throwing them away.

#5

To make budgeting effective, you must be alone. Find a comfortable place that’s away from the turmoil of your daily life. As mentioned above, you’ll need an effective storage system for your income and spending records.

#6

Billie, who is thirty-eight, wants to have a realistic, achievable budget with some goals.

#7

After setting general goals, Billie has to look at them again, this time with an eye to what’s realistic and reasonable. She decides that she wants to help the kids pay for college, pay off the credit card in nine months, retire from the company at age fifty, and save six months of income over the next twelve years.

#8

Billie wants to save as much money as possible, so she makes these decisions: keeps the car, cuts down on utility bills, spends no more than $125 on groceries each week, eliminates small expenses, and invests $400 in insurance.

#9

Billie needs to make some changes to her financial goals. She needs to refinance the mortgage on her condo, pay off the credit card in three months, and start saving for the kids’ college fund only when the credit card is paid off.

#10

Billie was able to create a working budget. It won't be easy to cut back, but the family does still have some discretionary spending money. Billie will realize the dream of owning