Where's My Money? 10 Sure-Fire Ways To Keep, Earn And Grow More Money

Wrightbooks Publishing (Published 2009)

Written By Jason Cunningham

Australia

Review 4 Stars – Excellent Book

How the blurb describes the book:
(Jason) conveys a range of financial concepts in simple, straightforward language, and his passion, energy and personality shine through on every page.
David Schwarz
AFL commentator and former Melbourne Football Club star

Are you sick of living from payday to payday? Do you wish for a secure financial future? Are you always asking yourself, 'Where has my money gone?'
Packed with practical tools and real-life examples, Where's My Money? will help you to take charge of your financial future and make your dreams a reality. This 10-step, plain-English guide has something for everyone – whether you earn 35K or 350K.

Inside you'll discover how to:
- Earn more money – and keep more of it
- Grow your money by investing it in properties outright before you retire
- Use a business to fast-track your financial goals
- Protect your assets and reduce your tax commitments
Whether you're struggling under the weight of a mountain of debt or wanting to speed up your financial success, Where's My Money? is the book for you!

An accountant and financial planner, Jason Cunningham is also a co-founder of financial services business, The Practice. Jason talks straight and calls it as he sees it. Above all, he's passionate about helping people achieve their full financial potential.

Mr Home Budget's Review:
Jason Cunningham talks about his 10-steps to financial freedom:

1. Get your head right
2. Understand your risk profile and protect yourself
3. Consolidate bad debt
4. Create a budget
5. Maximise your income-earning potential
6. Buy property – the smart way
7. Have a crack at the sharemarket
8. Business – the ultimate in leverage
9. Protect your assets
10. Get some help from the tax man

Now I don't normally include all the chapter breakdowns in my Book Reviews however, this book starts out like a home budgeting book (and even the title suggests that it is a home budgeting book). It then delves into other areas, including how to start and run a business or how to invest in property.

This is not a good or bad thing for you the reader. However it's a good idea to know what you are getting youself into from the outset. If you are looking purely for a how to home budget book, this is not for you.

Jason starts off the book talking about three different clients of his:
Sarah, a young 23-year-old woman in a mountain of debt with little income.
Steve, a 35-year-old man with income of $140,000 but few assets.

Brad and Cindy, a married couple of 43 and 32, who earn a combined wage of $90,000. As a couple they don't have much debt and are determined to escape the rate race.

In each chapter, he points to all three clients and explains what his advice would be for their situation on the subject matter of that chapter. As you could probably put yourself into the shoes of at least one of the three clients' money situation, you can apply his advice to your situation. This is brilliant as it gives the book a more tailored approach to different situations, rather than a one-size-fits-all answer.

It's great to see an accountant talk about needs vs wants. Something most accountants don't touch on in books as it might seem too insignificant to mention. He makes it crystal clear that if your wants start becoming your needs this is a fast track to a declining bank balance. If you know what your needs are worth each year, you can run a much smoother household.

Some of the paragraphs which stood out to me included: "Thirty years ago attitudes to purchasing property were a lot different from that of first home buyers today. My parents borrowed only 50 per cent of the purchase price – meaning they actually saved for a 50 per cent deposit (some readers may need to look up those 's' and 'd' words in the dictionary). Their sole focus then was to pay off their home loan as fast as they could.
So we had milk crates for furniture until they could afford to buy a lounge suite. Don't get me wrong, we didn't eat gruel for dinner, but Mum and Dad, and people of their era, understood and lived the concept of delayed gratification. They worked hard (sometimes doing a couple of jobs) to pay down the loan, and then bought wants such as furniture, holidays and things for the kids. They waited until they could afford it".

It's highly recommended you think about giving this book a read. However, it is probably even a better idea to pick this up if one of your goals is to open a business one day. Jason does a great job of making complicated money problems seem simple.

Pros:
- It is easy to read and understand. Plus has some extremely funny parts scattered throughout.
- While Jason does include parts about increasing your income and wealth. Unlike a lot of books written in the same style, he remembers one of the best ways to help your bank balance is to cut back on your everyday budget.

Cons:
- The book sometimes can get a bit too in depth for its own good. You probably don't need to know every nut and bolt about everything.
- Jason is a big believer in credit cards and borrowing against your money to purchase more assets. Both are risky, but for different reasons.