Budgeting! Personal Finance!! Concepts that make most people sit on the edge of their seats. Everyone wants to know how to either make more money or make the money they already have do more for them. Most people prefer the former.
A senior friend of mine dealt with this issue in a book launched in the last quarter of 2011 (talk about great timing!). He is an experienced accountant responsible for billions in a well-known firm. Funny thing is that he testifies that before he stumbled on the principles of personal finance that have worked for him, he did have his own challenges saving any significant amount of money. In his words, he and his wife, an upper middle class couple, were once ‘one paycheck away from bankruptcy’ simply because of urgent wants that needed to be met every month.
The book has an interesting title: Honey, Is It in the Budget? The typical question a spouse would ask his/her more spendthrift partner. You may consider it an unconventional title for an unconventional book. Mr. Yinka Ogunnubi does not propose a quick fix or magic wand for our financial troubles rather he emphasizes that some work needs to be done in gathering data of your spending pattern over six months to one year, then planning your short/medium/long term financial goals.
The approach described in the book is unique, even drastic. Mr. Ogunnubi emphasizes that staying financially free requires discipline not just wishes. No matter how much one earns, one could still be bankrupt if there is no plan for how you spend. One piece of information that dazzled me was the fact that ‘many people cite money as the main cause of divorce’. I definitely did not know that.
I was half way into the book before I took a break. I will finish it, trust me. You can see a preview on the official web site www.honeysbudget.com. It’s a good read, please do get a copy. Honey, Is It in the Budget also comes with a Personal Finance and Budget Tool which is available for download on the website. Happy reading.